TOPIC

/ company

AIA

(友邦保险)

AIA

友邦保险

AIA is a multinational insurance company, offering a range of products including life insurance, accident and health insurance as well as savings plans. It also provides employee benefits, credit life and pension services to corporate clients. The company is active in markets across Asia and is headquartered in Hong Kong.

Chairman / President

Lee Yuan Siong

CFO / Finance Director

Mark Francis

Industry

Insurance

Headquarters address

1 Connaught Road Central, Central, Hong Kong

Stock Code

SEHK:81299

Year founded

2009

last updated:

27 August, 2024

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Insurance

Buyers from mainland China drive record Hong Kong life insurance sales

Sales surge 12 per cent to US$14.9 billion as mainland visitors continue buying spree to chase better returns and hedge the yuan.

30 Aug 2024 - 4:39PM

Tourists crowd the Avenue of the Stars at Victoria Harbour in Tsim Sha Tsui during the ‘Golden Week’ holiday period on October 2, 2023. Photo: May Tse

Banking & finance

Mainland Chinese buying spree boosts AIA’s first-half profit 53%

Asia’s largest insurer posted its best first-half profit in five years at US$3.31 billion and beat analysts’ estimates of US$3.27 billion.

22 Aug 2024 - 6:34PM

Hong Kong property

A quarter of Hong Kong companies plan cuts in office space, survey shows

A weak economic recovery and geopolitical uncertainties have had more companies ‘talking about money’ when making rental decisions, according to Colliers.

30 Jun 2024 - 3:00PM

Insurance

Hong Kong life insurance sales surge amid soaring demand from mainland visitors

Life insurance sales in Hong Kong surged by 39 per cent in the first quarter thanks to a world record policy sold by HSBC Life and strong growth in the number of mainland Chinese visitors buying policies in the city, according to data from the industry regulator.

19 Nov 2024 - 11:12AMvideocam

Insurance

AIA eyes more office buildings in China on rapid growth in insurance business

AIA Group, Asia’s largest insurer, is picking an opportune time to look for office buildings in mainland China to house its operations. A two-year slump in the property market has rendered these assets ‘affordable.’

27 May 2024 - 4:42PM

Insurance

AIA new business value soars 27% as insurer adds US$2 billion to buy-back plan

Stripping out the effect of exchange-rate fluctuations, new business value surged 31 per cent while annualised new premiums rose 26 per cent.

29 Apr 2024 - 9:47AM

Insurance

Prudential sees windfall from Hong Kong’s cash-for-residency scheme

Hong Kong’s revamped investment-migration scheme is paying off for insurers such as Prudential Hong Kong, which is planning to expand its product line to appeal to wealthy would-be Hongkongers.

31 Mar 2024 - 10:00AM

A general view of Shenzhen, one of the cities of the Greater Bay Area, photographed from the Free Sky observation deck in Ping An Finance Center on December 28, 2023. Photo: Dickson Lee

Banking & finance

Prudential turns around with US$1.71 billion net profit in 2023

UK insurer Prudential reported a strong set of results for 2023 driven by higher sales to mainland Chinese visitors as they returned to Hong Kong for better life policies and investment returns.

20 Mar 2024 - 5:41PMvideocam

An insurance salesman approaches mainland Chinese tourists in Tsim Sha Tsui, Hong Kong. Photo: Eugene Lee

Banking & finance

Exclusive | Janus Henderson targets Greater Bay Area, Hong Kong cash-for-residency scheme

Hong Kong will play a key role in Janus Henderson’s Asia expansion plan because the city is a portal to China, while the new investment-migration scheme will create demand for investment products, CEO Ali Dibadj says.

18 Mar 2024 - 8:30AM

Insurance

AIA’s 2023 profit jumps 15% on insurance sales to mainland visitors

AIA Group’s new sales in Hong Kong and mainland China continued to grow in the first two months of the year, indicating strong momentum from last year is carrying over in its two major markets, according to its top boss.

14 Mar 2024 - 5:31PM

Hong Kong stock market

Hong Kong-listed firms ploughed record US$14 billion into buy-backs in 2023

The repurchasing spree has come as the Hang Seng Index heads for an unprecedented fourth straight year of decline, as China’s slowdown and aggressive interest-rate hikes in the US trigger foreign outflows.

12 Dec 2023 - 4:36PM

The repurchasing spree has come as the Hang Seng Index heads for an unprecedented fourth straight year of decline. Photo: Edmond So

Insurance

AIA reports 50% profit jump on surging policy sales to mainland Chinese visitors

AIA Group’s new sales value grew 37 per cent in the first half, helped by new policy sales in Hong Kong to mainland Chinese customers seeking better investment returns and a hedge against currency weakness.

24 Aug 2023 - 4:42PMvideocam

AIA has spent billions of dollars on mergers and acquisitions over the past couple of years. Photo: Reuters

Hong Kong

Editorial | Hong Kong to cash in on dual currency trading

Trades in local dollar or yuan in city stock market will offer greater choice to those investors seeking to diversify not only in shares but also currencies.

24 Jun 2023 - 6:30AM

Banking & finance

24 Hong Kong-listed stocks start transactions in dollars and yuan

Hong Kong and foreign investors on Monday started to use offshore yuan funds to buy and sell shares of Alibaba, Tencent and 22 other companies, marking another milestone in the internationalisation of the Chinese currency.

19 Jun 2023 - 8:00PM

Insurance

Hong Kong insurers’ sales to Chinese visitors jumped 28-fold in first quarter

Life insurance sales to mainland Chinese visitors rose by 28 times in the first quarter, as the reopening of the border unleashed a wave of pent-up demand, data from the Insurance Authority showed.

19 Nov 2024 - 11:09AMvideocam

The return of mainland Chinese visitors to Hong Kong has boosted life insurance sales in the city. Photo: Yik Yeung-man

Hong Kong stock market

Top Hong Kong-listed firms boost share buy-backs as bear market sets in

At least 26 companies disclosed buy-backs totalling HK$667 million (US$85.2 million) on Tuesday, according to data compiled by Securities Times. AIA has been the most active this year, acquiring shares worth HK$12.5 billion.

31 May 2023 - 4:28PM

Insurance

Lawmakers support Hong Kong safety net plan for insurance policyholders

Lawmakers showed their support for the Hong Kong government’s proposed compensation scheme aimed at protecting policyholders who would get up to HK$4 million (US$636,942) per policy in case an insurer collapses.

3 Apr 2023 - 5:47PMvideocam

Banking & finance

Prudential, Ping An post strong sales as end of Covid-19 measures spurs growth

UK-based Prudential reports 15 per cent growth in new sales across Asia in the first two months of this year, while Ping An Insurance tallies 5 per cent sales growth in the same period.

15 Mar 2023 - 7:16PMvideocam

Banking & finance

Mainland Chinese visitors flock back to Hong Kong to buy life insurance

The value of life insurance policies sold to mainland customers tripled last year from 2021, according to figures released on Friday, as the easing of travel restrictions late in the year allowed cross-border traffic to resume.

10 Mar 2023 - 8:00PMvideocam

Insurance

AIA looks past bad year, bets on open borders to sell more insurance

The full reopening of China’s southern border with Hong Kong on January 8 was a relief for AIA, which counted on the two markets for 50 per cent of new sales in 2022.

10 Mar 2023 - 11:38PM

Insurance

Hong Kong insurance agents eye mainland Chinese clients as borders reopen

Many of the 120,000 insurance agents who suffered during the pandemic are gearing up to serve returning mainland visitors – big spenders on local insurance products. And to tap this business, AIA, Manulife and Prudential plan to hire a total of 10,000 new agents this year.

21 Jan 2023 - 10:30AM

Siobhan Haughey

Siobhan Haughey ‘anxious’ to return to action after several months injured

Hong Kong Olympian says ankle injury that forced her to miss World Championships left her ‘a little down’.

15 Jul 2022 - 8:15AM

Siobhan Haughey is ready to be back in action. Photo: Shirley Chui

Insurance

Flight attendants turned insurance agents boost policy sales to 5-year high

Life insurance sales in Hong Kong jumped 25 per cent last year, the highest since 2016, after insurers bolstered staff numbers by recruiting flight attendants laid off amid the Covid-19 pandemic.

11 Mar 2022 - 6:45PMvideocam

Insurance

Insurance giant AIA to buy back US$10 billion of shares as profit surges

The Hong Kong-listed insurer conducted a number of deals last year, which helped boost net profit by 28 per cent to US$7.48 billion, beating analysts’ estimates of US$6.47 billion in a Bloomberg poll.

11 Mar 2022 - 5:47PMvideocam

Green finance

AIA sells almost US$10 billion of coal-related assets to go green

AIA joins a growing number of firms and institutions in curtailing holdings. According to the Insure Our Future campaign, 65 insurers with combined assets of US$12 trillion have so far divested from coal.

7 Dec 2021 - 12:00PM

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