AIA Group Ltd. (1299.HK) Friday said its value of new business rose 20% from a year ago in its fiscal third quarter.
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.
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"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.
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(END) Dow Jones Newswires
October 19, 2017 21:02 ET (01:02 GMT)