Hong Kong, 21 August 2025 – The Board of AIA Group Limited (the “Company”) is pleased to announce the Group’s financial results for the six months ended 30 June 2025. Growth rates are shown on a constant exchange rate basis unless otherwise stated:
New business performance and embedded value
- Value of new business (VONB) up 14 per cent(1) to US$2,838 million
- 3.4 pps increase in VONB margin to 57.7 per cent
- Annualised operating ROEV of 17.8 per cent, up 290 basis points from 14.9 per cent in full year 2024
- EV Equity of US$73.7 billion, up 5 per cent per share over the first half on an actual exchange rate basis
IFRS earnings and free surplus generation
- Operating profit after tax (OPAT) of US$3,609 million, up 12 per cent per share
- On track to achieve OPAT per share CAGR target of 9 to 11 per cent from 2023 to 2026(2)
- Underlying free surplus generation (UFSG) of US$3,569 million, up 10 per cent per share
Dividend and capital
- US$3,710 million returned to shareholders in the first half through dividend and share buy-backs
- Interim dividend increased by 10 per cent to 49.00 Hong Kong cents per share
- Shareholder capital ratio of 219 per cent at 30 June 2025
Lee Yuan Siong, AIA’s Group Chief Executive and President, said:
“AIA has delivered an excellent operating and financial performance in the first half of 2025, demonstrating that we have the right strategic priorities to leverage the unparalleled opportunities for life and health insurance in Asia. We have achieved strong VONB growth of 14 per cent(1) for the Group with positive growth from 13 out of our 18 markets.
“Premier Agency, the core of our unrivalled distribution platform, grew VONB by 17 per cent through a combination of a higher number of active agents and enhanced productivity as our agents increasingly benefit from the transformational power of Gen AI and our cumulative technology investments. The scale and quality of our Premier Agency sets AIA apart and we have been the number one global Million Dollar Round Table (MDRT) multinational company for the last 11 years with more than double the number of MDRT members than our nearest competitor. Our partnership distribution channel complements our agency as we work closely with market-leading banks and financial intermediaries to provide tailored solutions to their customers. This fast-growing channel delivered an 8 per cent VONB increase in the first half, building on last year’s exceptional growth.
“We have said many times that adding successive layers of profitable new business compounds over time to support higher growth in earnings and cash generation for the long term. This compounding is clearly evident in a further acceleration in the first half, with OPAT and UFSG per share growth of 12 per cent and 10 per cent respectively. Following our prudent, sustainable and progressive dividend policy, the Board has declared a 10 per cent increase in the interim dividend to 49.00 Hong Kong cents per share.
“Asia is the most attractive region in the world for life and health insurance. The strong fundamental growth drivers of rising wealth, low insurance penetration levels and limited social welfare coverage continue to power the long-term exceptional prospects for AIA’s business. I am confident that AIA’s geographical diversification and focus on the disciplined execution of our strategic priorities will continue to deliver long-term sustainable value for all our stakeholders.”
