AIA Group June-August Value of New Business Up 20% to US$824 Million

By Gaurav Raghuvanshi Features Dow Jones Newswires

AIA Group Ltd. (1299.HK) Friday said its value of new business rose 20% from a year ago in its fiscal third quarter.

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The value of new business rose to US$824 million in the June-to-August period, compared with US$689 million in the same period a year earlier, the insurance company said in a statement to Hong Kong Exchange. The margin on new business improved by 8.4 percentage points to 59.1% in the quarter, it said.

"Asian macroeconomic fundamentals remain strong and resilient," AIA said, adding the company "benefits significantly" from this positive economic backdrop.

AIA's business in China remained its fastest growing, driven by a higher number of sales agents. Business in its other main markets of Singapore and Malaysia also grew in the quarter, AIA said.

Write to Gaurav Raghuvanshi at gaurav.raghuvanshi@wsj.com

(END) Dow Jones Newswires

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October 19, 2017 21:02 ET (01:02 GMT)