AIA Group says value of new business up 25%

[HONG KONG] AIA Group Ltd, the world's second-largest life insurer by market capitalisation, on Friday reported a 25 per cent rise in the value of new business for the first half of the year, driven by strong sales in Hong Kong and China.

AIA said the company's value of new business, which measures expected profits from new premiums and is a yardstick for growth, rose to US$552 million from US$468 million in the same period a year ago.

AIA's shares have risen 3.5 per cent this year, as strong sales of insurance products outweighed fears over slowing economic growth in Asia.

REUTERS