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AIA delivers excellent financial growth in 2023
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he Board of AIA Group Limited is pleased to announce that the Group has delivered excellent performance in its financial results for 2023. AIA’s Value of New Business (VONB) grew by 33% with double-digit growth in 10 markets, including ASEAN, Hong Kong, Mainland China and India.
The Group’s consistent financial discipline also drove growth across all major indicators, such as Embedded Value (EV) Equity and Operating Profit After Tax (OPAT). EV Equity was up 7% before capital returns totalling US$5.9 billion in dividends and share buybacks to shareholders, and OPAT was up 2% per share to reach $6.2 billion.
The Board also brought the total dividends to 161.36 Hong Kong cents per share, an increase of 5% from 2022. This reflects AIA’s sustainable and progressive approach to dividends, allowing future growth and flexibility for the Group.
Lee Yuan Siong, AIA Group Chief Executive and President, stated: “Asia is the most attractive region in the world for life and health insurance, where the strong fundamental drivers of demand and major demographic trends provide powerful support for the long-term prospects of our businesses across the region.
“I am confident that the need for AIA’s insurance products will continue to grow strongly and that our clear competitive advantages, multiple growth engines and unmatched financial flexibility will enable AIA to generate long-term sustainable value for all our stakeholders while we help people live Healthier, Longer, Better Lives.”
The 2023 financial results of AIA Group Limited underscore remarkable accomplishments across multiple areas, encompassing New Business Performance, Earnings and Capitals as well as Dividends and Share Buy-back Programme. The growth rates across each front, outlined on a constant exchange rate basis, marked a notable increase in all key financial metrics, showcasing for AIA’s exceptional strength throughout the year 2023.
