Hong Kong, 14 May 2021 – AIA Group Limited (“AIA”; or the “Company”; stock code: 1299) welcomes its designation effective today as a Designated Insurance Holding Company by the Insurance Authority under Hong Kong’s Group-Wide Supervision (GWS) Framework.
AIA fully supports the recently established GWS Framework, which sets out the principles and standards for international insurance groups supervised by the Hong Kong Insurance Authority in a wide range of areas, including enterprise risk management, corporate governance, capital adequacy requirements and public disclosure.
Garth Jones, AIA’s Group Chief Financial Officer, said, “We are very proud to be a Hong Kong-headquartered company and are committed to the long-term future of Hong Kong as an international financial centre and attractive home for insurance groups. We welcome our designation under the GWS Framework, which further aligns Hong Kong’s insurance regulatory regime with global standards and further reinforces the continued health and strength of the local insurance industry.”