Hong Kong-based insurer AIA Group on Wednesday posted a 13 per cent rise in its first-quarter value of new business (VONB), bolstered by its flagship Hong Kong unit which saw strong demand from both local customers and mainland Chinese visitors.
AIA’s VONB, which gauges expected profits from new premiums and is a key barometer for future growth, came in at $1.50 billion on a constant exchange currency basis in the three months ending March 31 compared with $1.33 billion a year ago.
