AIA Vietnam delivers excellent first-half performance

July 30, 2014 | 17:15

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AIA Vietnam, a leading wholly foreign owned life insurer in the Vietnamese market, today announced the company’s excellent result for the first six months of 2014 ended May 31 with impressive key performance metrics compared with the previous year.

Accordingly, the company has posted 129 per cent increase in value of new business (VONB) and 40 per cent increase in annualised new premium (ANP).

“AIA Vietnam tremendous growth in the first six months of 2014 resulting from our consistent execution of business strategies. Besides diversified product portfolio development and quality improvement of customer services, we continue to constantly invest in perfecting the professional of the agency force,” said AIA Vietnam CEO Stephen Clark.

At this time, AIA Group also announced the group’s another excellent set of results for the six months ended May 31 with the main highlights such as 23 per cent growth in VONB to $792 million; 11 per cent hike in ANP to $1,690 million; 15 per cent growth in operating profit after tax following international financial reporting standards (IFRS) to $1,457 million and its solvency ratio increased to 448 per cent.

The Board of Directors has declared an interim dividend of 16.00 Hong Kong cents per share, representing an increase of 15 per cent over the previous year.

AIA Group chief executive and president Mark Tucker has attributed the group’s strong performance to its consistent execution of growth strategy, the prudent management of balance sheet and the resilience of portfolio of life insurance operations in diversified markets across the Asia-Pacific region.

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