AIA Group: Fiscal 1Q Value of New Business Up 53%

AIA Group Ltd.'s (1299.HK) new-business value--a key measure of insurers' profitability--rose 53% in the first quarter on strong business growth in China and Hong Kong, its core markets.

The pan-Asian insurer said Thursday its new-business value rose to $884 million for the three months ended Feb. 28, up from $578 million a year earlier.

Annualized new premium sales--a measure of new business activity--rose 61% to $1.78 billion, it said.

Write to Chester Yung at chester.yung@wsj.com.

(END) Dow Jones Newswires

April 26, 2017 20:37 ET (00:37 GMT)