AIA operating profit jumped 13% to $5.3b in 2018

Annualised new premiums grew 15% to $6.5b.

AIA’s operating profit after tax (OPAT) climbed 13% YoY to $5.2b in 2018, an announcement revealed. Annualised new premiums also grew 15% YoY to $6.5b, pushing up the value of new business (VONB) by 3.7 pps to 60%.

The firm also revealed that final dividend growth hit 1% to $10.80 (HK$84.80) per share whilst total dividend increased 14% to $0.15 (HK$1.14) per share.

“I am also delighted that we recently received approval to set up sales and service centres in Tianjin and Shijiazhuang, Hebei,”Ng Keng Hooi, AIA’s Group Chief Executive and President, said in a statement.

For AIA Singapore, value of new business (VONB) inched up 18% to $357m backed by the agency channel and the partnership with Citibank. ANP also climbed 26% to $547m boosted by regular premium protection products in all channels.

In 2018, AIA SIngapore launched Personal Medical Case Management Service through its partnership with Medix, expanded the AIA Quality Healthcare Partners network and increased the number of participating hospitals with pre-approval claim services.