A strong premium income growth in China and Malaysia drove AIA to report its highest ever quarterly new business value.
AIA, 32.89 per cent-owned by American International Group, said its value of new business amounted to $245 million in its third quarter ended Aug. 31, up 53 from the same period a year earlier. The group’s value of new business margin increased 4.5 percentage points to 36 per cent, and annualized new premium sales were up 52 per cent at $766 million, AIA said.
AIA Chief Executive Mark Tucker stated : “We remain confident that the region’s dynamic economic growth and vast demand for savings and protection products will continue to provide the group with significant profitable growth opportunities for many years to come.”
Hong Kong, October 13, 2011 (Dow Jones)
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