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

By FeaturesDow 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)