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AIA delivers excellent results in the first quarter of 2023
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W
e’re not going to focus just on life; we’re going to focus on living, encapsulates one of the remarkable purposes of AIA, the largest pan-Asian life insurance group that has presence in 18 markets, including Indonesia.
In the first quarter of 2023, PT AIA FINANCIAL (AIA) reported positive financial results, having reached a premium income of Rp2.5 trillion or US$176.2 million (unaudited), accompanied by an increasing risk-based capital of 590 percent (unaudited).
“I really appreciate this achievement being attained as a result of the hard work of our solid management, employees, sales forces, and essentially the trust of our customers and partners,” noted AIA President Director Sainthan Satyamoorthy.
AIA’s remarkable risk-based capital far exceeds the requirement that typically only measures up to 120 percent.
To continue AIA’s journey of growth, Sainthan conveyed how the company, with over a century of expertise demonstrates its resilience in the post-pandemic period. This resilience and persistence culminated in the good financial performance the company is witnessing today.
During the first quarter, AIA fulfilled its obligation to protect its customers by funding claims and benefits worth Rp1.8 trillion (unaudited), an increase of the 16 percent of the total claims and benefits expenses paid within the same period of 2022 worth Rp1.5 trillion.
Centering customer protection as one of the company’s obligations further reiterates AIA’s long-term commitment to accountability for its customers, Sainthan explained.
He further explained what these strong first quarter results signified for the company.
To Sainthan, this achievement was more than just numbers, it reiterated the company’s credible expertise and experience in providing life and health protection for its customers.
“[This] is in line with our goal to help millions of families in Indonesia live healthier, longer, better lives.”
This achievement could not have been made without professional, trusted and digitally savvy sales forces to provide solutions prioritizing the needs of their customers.
Because at AIA, creating a healthier Asia is the dream, and this comes through empowering customers to understand and manage every aspect of their wellness. Through expanding awareness of the need for trusted insurance, AIA’s value of new business (VONB) has continued to grow, reported last April at US$1 billion.
This goal attained by AIA Group Limited, the parent company of AIA in Indonesia, stems from its successful collaboration in several countries and regions, crossing Indonesia, Hong Kong, Mainland China, India and New Zealand, as well as other countries in Southeast Asia.
The power of teamwork from all AIA Group Limited subsidiaries in these regions has led to harmonious growth, with its VONB having grown 28 percent.
Reflecting on these achievements helps AIA focus on its long-term prospects with confidence, with hopes to expand these outcomes by reshaping the life and health insurance industry in Asia.
Sainthan further emphasized this positive outlook.
Going forward, he shared that in line with the Group’s positive view of the industry, “We are confident about Indonesia’s long-term growth prospects and maximizing new opportunities in providing sustainable value for our customers and stakeholders.”
