AIA Group Reports 5 Percent Drop in New Business Value
Insurer AIA Group posted a five percent drop in third-quarter new business value as growth moderated from high levels a year earlier. Mainland China and Hong Kong both recorded declines due to tough comparisons and regulatory shifts.
Insights:
AIA Group reported a 5% drop in its third-quarter value of new business to $1.42B, down from $1.48B a year ago. The decline reflects moderating growth from an exceptionally high level following last year's 40% surge in Hong Kong. The contraction was widely expected by market participants tracking regional insurance metrics.
