AIA Group free surplus balloons to $20.6b in H1 2022

The group’s interim dividend went up by 6%.

AIA Group reported positive growth in several key metrics as sales momentum in the second quarter improved as the temporary disruption caused by the initial outbreak of the Omicron variant declined.

AIA reported that its operating profit after tax (OPAT) increased by 4% to $3.22b. Free surplus increased by $3.6b to $20.6b. Underlying free surplus generation (UFSG) up 5% to $3.19b

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“Our growing high-quality in-force portfolio supported an increase in both OPAT and UFSG. The Group's financial position remained very strong with free surplus increasing to US$20.6 billion and a Group LCSM cover ratio of 277% despite the significant stress in capital markets. EV Equity was $72.3b, representing an increase of 3%in the first half before the return of $3b to shareholders through our share buy-back programme and payment of the 2021 final dividend,” Lee Yuan Siong, AIA's Group Chief Executive and President, said.

AIA said it s interim dividend increased by 6%to HK$40.28 per share.