AIA Group 1st Half Income Rises On Improved Premium Income, Margins

By Gaurav RaghuvanshiFeaturesDow Jones Newswires

Asian insurance giant AIA Group Ltd. (1299.HK) said Friday its interim net profit rose 42% on year, helped by stronger margins and growth in premiums income.

Net profit in the six months that ended May 30 rose to US$2.93 billion, from US$2.07 billion in the same period of the previous year, while total revenue jumped to US$18.41 billion from US$12.86 billion.

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The insurer's new-business value--a key measure of profitability--rose 42% on year to US$1.75 billion and annualized new premiums were up 37% at US$3.2 billion, AIA said.

The company declared an interim dividend of 25.62 Hong Kong cents a share, Up 17% from the previous year.

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

(END) Dow Jones Newswires

July 27, 2017 20:05 ET (00:05 GMT)