AIA S'pore logs 15% rise in net operating profit

Singapore

STRONG momentum and higher agent productivity drove AIA Singapore's growth in the fiscal year that ended on Nov 30.

Its operating profit after tax rose 15 per cent to US$396 million; its value of new business (VONB) rose 22 per cent to US$269 million, and VONB margin rose 2.2 percentage points to 67.3 per cent.

AIA chief executive Tan Hak Leh said the "solid" performance was attributable to an increased uptake of protection and long-term savings products. "The amount of protection business has gr…