AIA Singapore raises operating after-tax gain by 7% to US$558m

Singapore

AIA Singapore clocked a 7 per cent increase in full-year operating profit after tax to US$558 million from a year ago, despite pressure on profitability from double-digit medical inflation in the market, it said on Friday.

The results reflect an 18 per cent increase for 2018 in its value of new business (VONB) to US$357 million, with firmer sales driven mainly by the agency channel and its strategic partnership with Citibank.