Hong Kong, 14 March 2025 – The Board of AIA Group Limited (the “Company”) is pleased to announce the Group’s financial results for the year ended 31 December 2024. Growth rates are shown on a constant exchange rate basis:

 

• Value of new business (VONB) up 18 per cent to US$4,712 million
• All reportable segments delivered double-digit VONB growth
• Annualised new premiums (ANP) up 14 per cent to US$8,606 million 
• New business profitability increased with VONB margin up 1.9 pps to 54.5 per cent

• Operating profit after tax (OPAT) of US$6,605 million, up 12 per cent per share
• On track to meet OPAT per share CAGR target of 9 to 11 per cent from 2023 to 2026
• Operating ROE of 14.8 per cent, up 130 basis points from 13.5 per cent in 2023

 

“AIA has delivered an excellent performance in 2024 with record new business profits, strong earnings growth and free surplus generation. We have continued to drive higher operating ROEV and ROE while returning substantial capital to shareholders. VONB was up 18 per cent to US$4,712 million with all reportable segments achieving double-digit growth, reflecting the diversification and strength of our business. Successive layers of profitable new business drive sustained growth in earnings and cash generation with OPAT per share up 12 per cent and  UFSG per share up 10 per cent. EV Equity per share increased by 9 per cent, after returning US$6.5 billion to our shareholders through dividends and share buy-back.

 

“Following our prudent, sustainable and progressive dividend policy, the Board has recommended a 10 per cent increase in the final dividend to 130.98 Hong Kong cents per share, which results in an increase of 9 per cent in total dividend per share for 2024. In addition, following our enhanced capital management policy, the Board has also announced a new share buy-back of US$1.6 billion. This comprises US$0.6 billion to meet the payout ratio target of 75 per cent of annual net FSG and an additional US$1.0 billion following a regular review of the Group’s capital position. Together, the dividends and share buy-backs amount to a total yield⁽⁶⁾ of  approximately 6 per cent for shareholders.

 

“AIA is uniquely well-positioned to capitalise on the long-term structural growth potential in the world’s most attractive market for life and health insurance through the consistent execution of our clear and ambitious strategy. I am confident that AIA’s long-term business prospects remain exceptional. We will continue to strengthen our substantial competitive advantages to capture the opportunities ahead of us and create sustainable value for all our stakeholders.”

 

AIA Group Limited and its subsidiaries (collectively “AIA” or the “Group”) comprise the largest independent publicly listed pan-Asian life insurance group. It has a presence in 18 markets – wholly-owned branches and subsidiaries in Mainland China, Hong Kong SAR⁽⁷⁾, Thailand, Singapore, Malaysia, Australia, Cambodia, Indonesia, Myanmar,  New Zealand, the Philippines, South Korea, Sri Lanka, Taiwan (China), Vietnam, Brunei and Macau SAR⁽⁸⁾, and a 49 per cent joint venture in India. In addition, AIA has a 24.99 per cent shareholding in China Post Life Insurance Co., Ltd.

 

The business that is now AIA was first established in Shanghai more than a century ago in 1919. It is a market leader in Asia (ex-Japan) based on life insurance premiums and holds leading positions across the majority of its markets. It had total assets of US$305 billion as of 31 December 2024. 

 

AIA meets the long-term savings and protection needs of individuals by offering a range of products and services including life insurance, accident and health insurance and savings plans. The Group also provides employee benefits, credit life and pension services to corporate clients. Through an extensive network of agents, partners and employees across Asia, AIA serves the holders of more than 43 million individual policies and 16 million participating members of group insurance schemes.

 

AIA Group Limited is listed on the Main Board of The Stock Exchange of Hong Kong Limited under the stock codes “1299” for HKD counter and “81299” for RMB counter with American Depositary Receipts (Level 1) traded on the over-the-counter market under the ticker symbol “AAGIY”.