The results were revealed by the board of AIA Group Limited for the period of six months ending on June 30.

Overall, AIA delivered an increase in all of the company’s key financial metrics, with its VONB exceeding pre-pandemic levels in all reportable segments except for Hong Kong, a fact AIA Group Chief Executive and President Lee Yuan Siong attributed to travel restrictions affecting sales to Mainland Chinese visitors.

AIA recorded a 5 percent increase in operating profit after tax (OPAT) to US$3,182 million, at the same time increasing its free surplus levels by $4.4 billion to $17.9 billion.

According to Lee, AIA’s growing high-quality in-force portfolio supported growth in both OPAT and UFSG. EV Equity and shareholders’ allocated equity reached record highs, and the company’s strong financial position is reflected by a significant increase in free surplus and a Group Local Capital Summation Method (LCSM) cover ratio of 412 percent.

“The Board has declared an 8.6 percent increase in interim dividend to 38.00 Hong Kong cents per share. This follows AIA’s established prudent, sustainable and progressive dividend policy, allowing for future growth opportunities and the financial flexibility of the Group.

“Our focus on further enabling our business with technology has significantly improved resilience in the face of ongoing pandemic containment measures. Compared to the first half of 2020, our Premier Agency has increased both agent productivity and our number of active agents. We have delivered a 25 percent increase in our registered Million Dollar Round Table (MDRT) members to more than 16,000,” he said, adding that it was AIA’s seventh consecutive year of achieving the largest number of registered MDRT members globally.

“AIA’s purpose of helping people live Healthier, Longer, Better Lives comes to life through our compelling propositions, which integrate our Health and Wellness Ecosystem and long-term savings solutions. We continue to focus on advancing the key components of our ecosystem to deliver improved health outcomes for our customers.

“We believe that creating distinctive, personalized and meaningful experiences for our customers will generate a range of business benefits. Transforming AIA into a simpler, faster, more connected organization will support the delivery of our strategic ambitions for the next era of growth, building on the powerful demographic trends and immense opportunities in the life insurance market in Asia. I am confident that the continued execution of our strategic priorities will enable us to generate long-term sustainable value for our shareholders,” Lee concluded.

AIA Indonesia President Director Sainthan Satyamoorthy said that the strong results for the AIA Group reflected the strength of the company’s businesses across the Asia-Pacific region.

“In Indonesia, our continued focus on helping millions of families live Healthier, Longer, Better Lives has resulted in strong results in Q2 2021. Premium income increased to Rp 7 trillion from Rp 6.1 trillion, and total assets to Rp 52 trillion from Rp 48.9 trillion, reflecting customers’ continued trust in AIA, especially during these difficult times,” he explained, noting that AIA paid out over Rp 1.1 trillion in claims and benefits in the first half of the year.

“With our continued investment in technology, the quality of our distribution and market leading propositions such as our science-backed wellness program AIA Vitality, we believe we are in a strong position to continue to support Indonesia’s economic recovery, providing compelling propositions for Indonesians’ financial protection needs and employment opportunities through our Agency's Premier Academy.”

Overall, AIA China remained the largest contributor to the Group’s VONB and delivered a very strong 20 percent increase in VONB on a like-for-like basis. AIA have also made rapid progress in our geographical expansion in Mainland China with the launch of our new operation in Sichuan province and the regulatory approval to prepare for a new branch in Hubei province.

While travel restrictions continue to limit sales to Mainland Chinese visitors, AIA Hong Kong achieved a 16 percent VONB growth in the domestic customer segment. In AIA’s Macau branch, Mainland Chinese visitor sales contributed over one-third of the total ANP in the first half of 2021, supported by the resumption of the Individual Visit Scheme.

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