Skip to main content
  • Search
  • AIA Singapore
  • Our Products
    • Life Insurance
    • Medical Insurance
    • Critical Illness Insurance
    • Disability Income Protection
    • Accident Protection
    • Savings
    • Investments
    • Platinum
    • Travel & Lifestyle
    • AIA Vitality
    • Employee Benefits
    • Corporate International Medical
  • Life Matters
    • Health Matters
    • Wellness Matters
    • Money Matters
    • Wealth Matters
    • Your Financial Needs Matter
  • About AIA
    • Our Leadership Team
    • Environmental, Social and Governance
    • Careers
    • Media Centre
    • Awards
    • Our Top Awardees
    • MDRT Members
    • AIA Financial Advisers
    • AIA Brunei
  • AIA Vitality
    • About AIA Vitality
    • How It Works
    • Rewards & Partner Benefits
    • Join AIA Vitality
  • Help & Support
    • Contact Us
    • ONLINE PAYMENT WITH AIA PAY EZ
    • AIA HealthShield Support
    • Lodge a Complaint
    • FAQs
    • Form Library
    • Submit a Claim
    • Notices To AIA Policyholders
    • AIA Funds Information
    • AIA Annual Fund Reports
    • AIA's Participating Fund Commentaries
    • Consumer Guides
  • My AIA
    • My AIA SG
    • My Rewards
    • AIA Altitude
    • Make Payment Online
    • Submit a Claim
    • Request HealthShield Pre-Authorisation
    • FSC Access
    • Bank Partner Access
    • FA Broker Partner Access
    • eBenefits
  • AIA Vitality
    Visit the AIA Vitality website
  • YOUR FINANCIAL NEEDS MATTER
    Explore our financial calculators and resources for your long term and short term goals at different life stages.
  • Recent Promotions
    Find out more about our latest campaigns and promotions
AIA
AIA Logo AIA Logo
  • Our Products

    Our Products

    Find our products and services according to your protection needs.

    See more
    YOUR FINANCIAL NEEDS MATTER

    Explore our financial calculators and resources for your long term and short term goals at different life stages.

    EXPLORE NOW

    Recent Promotions

    Find out more about our latest campaigns and promotions

    See more

    For Individuals

    For Business

    • Life Insurance

      Protect your loved ones’ future from life’s uncertainties

    • Medical Insurance

      Adequate coverage for medical bills so you can focus on getting better

    • Critical Illness Insurance

      Protect against the financial burdens of critical illness

    • Disability Income Protection

      Protect your ability to earn an income.

    • Accident Protection

      Be financially prepared for the unexpected

    • Savings

      Start planning early and fulfil your saving goals.

    • Investments

      Make your money work harder for you – your dreams matter

    • Platinum

      Plan your enduring legacy, and share it with the generations to come.

    • Travel & Lifestyle

      Cover your personal belongings from loss or damage

    • AIA Vitality

      AIA Vitality is one of the most comprehensive wellness programmes with a wide spectrum of tools and benefits that target different aspects of your health.

    • Employee Benefits

      Secure your company’s most important asset through our market-leading domestic solutions

    • Corporate International Medical

      Give your local and international employees world-class healthcare with our corporate international medical solutions.

  • Life Matters

    Life Matters

    We take care of the matters of your life because your life matters

    VIEW ALL IN LIFE MATTERS
    • Health Matters

      Kick-start your journey to better health

    • Wellness Matters

      Live life to the fullest

    • Money Matters

      Prepare for your lives ahead

    • Wealth Matters

      Start protecting your wealth and enabling succession and legacy for your generations

    • Your Financial Needs Matter

      Explore our financial calculators and resources for your long term and short term goals at different life stages.

  • About AIA

    About AIA

    For almost a century, AIA has served the ever-changing needs of millions of people all across the Asia-Pacific region.

    Healthier, Longer, Better Lives

    • Our Leadership Team

      The Executive Committee and Board & Board Committees of AIA Singapore

    • Environmental, Social and Governance

      Our ESG commitment aims to deliver value to all our stakeholders

    • Careers

      Explore opportunities to work at AIA

    • Media Centre

      News and information about AIA

    • Awards

      Check out our awards and achievements over the years.

    • Our Top Awardees

      Presenting our top performers of FY2020

    • MDRT Members

      Presenting our top performers of FY2020

    • AIA Financial Advisers

      Who we are, what we do. Let's forge a partnership that lasts beyond a lifetime.

    • AIA Brunei

      Find out more about our branch office

  • AIA Vitality

    AIA Vitality

    AIA Vitality supports and motivates you every step of the way towards achieving your health goals. What’s more, get rewarded for healthy choices and earn points when you get active, eat well and complete Health Checks!

    Find Out More
    • About AIA Vitality

      AIA Vitality is a comprehensive programme that motivates you to keep fit and helps you to manage your health.

    • How It Works

      ​Discover how you can live a healthy lifestyle by staying active, eating well and maintaining good health with AIA Vitality.

    • Rewards & Partner Benefits

      Discover the rewards and benefits you have unlocked with your AIA Vitality points.

    • Join AIA Vitality

      Join us today, and get motivated to live a healthier, longer and better life!​

  • Help & Support

    HELP & SUPPORT

    We strive to assist you for all your inquiries with high touch customer service.

    CONTACT AIA
    AIA COVID-19 Support Programme

    Support Programme to extend the grace period for payment of premiums due up to 180 calendar days for customers who are financially affected by COVID-19

    Proceed to Page

    For Customer Support

    For Resource/Useful Links

    • Contact Us

      Cannot find the answer in our FAQ section? Contact us now

    • ONLINE PAYMENT WITH AIA PAY EZ

      Manage all your AIA payments from one convenient location

    • AIA HealthShield Support

      Quality Healthcare Specialist Partners exclusively for AIA HealthShield Gold Max customers

    • Lodge a Complaint

      On the sale of insurance products under the Financial Advisers Act (FAA)

    • FAQs

      Have a question? You may find the answer here

    • Form Library

      A selection of forms you can download, fill in and send back to us

    • Submit a Claim

      Need to make a claim? Learn more about the claim process.

    • Notices To AIA Policyholders

      Useful information for policyholders

    • AIA Funds Information

    • AIA Annual Fund Reports

    • AIA's Participating Fund Commentaries

    • Consumer Guides

  • My AIA

    My AIA SG

    Exclusive for AIA policyholders and Vitality members to conveniently access policy information, Vitality membership and rewards

    Register For My AIA SG

    If you are an AIA customer, and do not have a login, you can register for My AIA SG account here.

      Customer
    • My AIA SG

      My Rewards

      AIA Altitude

      Submit a New Request
    • Make Payment Online

      Submit a Claim

      Request HealthShield
      Pre-Authorisation

      Distribution
    • FSC Access

      Bank Partner Access

      FA/Broker Partner Access

      Employee Benefits
    • eBenefits

    My AIA SG

    Exclusive for AIA policyholders and Vitality members to conveniently access policy information, Vitality membership and rewards

    Register For My AIA SG

    If you are an AIA customer, and do not have a login, you can register for My AIA SG account here.

      Customer
    • My AIA SG

      My Rewards

      AIA Altitude

      Submit a New Request
    • Make Payment Online

      Submit a Claim

      Request HealthShield
      Pre-Authorisation

      Distribution
    • FSC Access

      Bank Partner Access

      FA/Broker Partner Access

      Employee Benefits
    • eBenefits

    Home

    My AIA Perks

    Logout

  • Search
  • Contact Us
    • Book an Appointment

    • Contact us

2019
Prev | Next
Back to Top
  • {{title}}

    {{label}}
  • AIA Delivers An Excellent Performance In 2018

    15 March 2019


    VALUE OF NEW BUSINESS UP 22 PER CENT
    OPERATING PROFIT UP 13 PER CENT; FINAL DIVIDEND UP 14 PER CENT

    HONG KONG, 15 March 2019 – AIA Group Limited (“AIA”; or the “Company”; stock code: 1299) delivered excellent operating performance with double-digit growth across our main financial metrics for the twelve months1 ended 31 December 2018, including very strong growth in value of new business (VONB) of 22 per cent on a constant exchange rate basis, compared with the corresponding twelve-month period ended 31 December 2017. 

    Growth rates are shown on a constant exchange rate basis below:

    Very strong growth in value of new business

    • 22 per cent growth in VONB to US$3,955 million
    • Annualised new premiums (ANP) increased by 15 per cent to US$6,510 million
    • VONB margin up 3.7 pps to 60.0 per cent

    Strong operating profit generation

    • Operating profit after tax (OPAT) up by 13 per cent to US$5,298 million
    • Embedded value (EV) operating profit increased by 23 per cent to US$8,278 million
    • Operating return on EV (operating ROEV) up by 110 bps to 16.3 per cent

    Robust cash flow and resilient capital position

    • EV Equity of US$56.2 billion; EV of US$54.5 billion, up US$3.7 billion
    • Underlying free surplus generation of US$4,945 million, up 13 per cent on a comparable basis
    • Free surplus of US$14.8 billion
    • Net remittances of US$2.8 billion
    • Solvency ratio for AIA Company Limited (AIA Co.) of 421 per cent on the HKIO basis

    Strong increase in recommended final dividend

    • 14 per cent growth in final dividend to 84.80 Hong Kong cents per share
    • Total dividend (excluding special dividend) up 14 per cent to HK$1.14 per share
    • A special dividend of 9.50 Hong Kong cents per share

    Ng Keng Hooi, AIA’s Group Chief Executive and President, said:

    “AIA has once again delivered an excellent performance with double-digit growth across our main financial metrics in 2018. Value of new business increased by 22 per cent to reach a new record of US$3,955 million. We also achieved strong growth of 13 per cent in both operating profit after tax and underlying free surplus generation. These very strong results were achieved against a backdrop of economic uncertainty and financial market volatility.

    “Our business in China delivered an excellent performance with VONB growth of 30 per cent. I am also delighted that we recently received approval to set up sales and service centres in Tianjin and Shijiazhuang, Hebei. Hong Kong delivered another very strong performance with 24 per cent VONB growth and VONB in Singapore grew by 18 per cent. Thailand returned to growth with VONB up 12 per cent, as our agency transformation delivered tangible results.

    “AIA’s agency channel had another excellent year with 26 per cent VONB growth and the Group now has more than 10,000 Million Dollar Round Table (MDRT) members. In partnerships, our bank channel delivered 18 per cent VONB growth and we activated four new strategic partnerships including with Bangkok Bank in Thailand and SK Telecom in Korea.

    “Our brand promise, Healthier, Longer, Better Lives, epitomises our commitment to customers as AIA shifts towards being a partner for life with wellness as a key focus. Membership of our wellness programmes exceeded 1.2 million, transforming engagement and delivering meaningful health improvements for our customers.

    “These strong results are underpinned by our diversified, robust and high-quality business model together with our relentless focus on capturing the significant opportunities presented by the long-term structural drivers of growth across Asian insurance markets.

    “The Board has recommended an increase of 14 per cent in the 2018 final dividend and a special dividend of 9.50 Hong Kong cents per share due to the change in financial year-end date. The dividends reflect the strength of AIA’s financial results and our confidence in the outlook for the Group.

    “The scale, quality and breadth of AIA’s exceptional businesses across the Asia-Pacific region, combined with our unrivalled distribution capabilities, trusted brand, financial strength and innovation capabilities, enable us to meet the evolving needs of our customers for protection and long-term savings as we help them to live Healthier, Longer, Better Lives.

    “We enter 2019, our centennial year, with confidence about our long-term outlook. AIA has always been committed to providing financial protection and driving economic and social development across the region. Our centenary gives us the opportunity to reaffirm our commitments and our focus on delivering long-term sustainable value for our shareholders.”

    AIA Singapore’s Business Results in 2018:

    AIA Singapore achieved outstanding growth in 2018 attributed to strong results across all channels.

     

    • Double-digit growth in Value of New Business (VONB), by 18 per cent to US$357M, mainly driven by the agency channel and our strategic partnership with Citibank.
    • Strong growth in Annualized New Premium (ANP), by 26 per cent to US$547M, driven by regular premium protection products in all channels.
    • IFRS Operating Profit After Tax (OPAT) increased 7 per cent reflecting long-term sustainable business growth.

    AIA Singapore maintained its market leadership position in agency distribution and delivered very strong growth in VONB through this core distribution channel. Focused execution of our Premier Agency strategy drove increases in both the number of active agents and productivity, as our professional agents continued to concentrate on meeting customer needs with an emphasis on regular premium protection products.

    In 2018, we developed several innovative digital tools including a new mobile application integrated with our propensity models that helps our agents engage with customers more effectively to better meet their needs. The introduction of these tools and our targeted recruitment and training programmes drove active agent growth and increase in productivity.

    Our strategic partnership with Citibank delivered excellent VONB growth, with a focus on recruiting and enhancing the productivity of the bank’s insurance specialists to address our customers’ protection needs.

    AIA Singapore also remained a market leader in the group insurance market where we secured several new and sizeable corporate client cases during the year. In 2018, for the 13th consecutive year, AIA Singapore won the prestigious Best Employee Insurance Provider (GOLD) Award at the HR Vendors of the Year 2018 Awards.

    In 2018, we continued to invest in and enhance our AIA Vitality wellness platform with the introduction of new benefits and launch of a strengthened digital experience via the new AIA Vitality app in December 2018. Endeavours to engage more customers yielded significant increase in AIA Vitality members over the course of 2018. 

    Patrick Teow, Chief Executive Officer of AIA Singapore, said:

    “AIA Singapore recorded strong performance in 2018, achieving sustained business success reflected in outstanding growth in both Value of New Business (VONB) and Annualized New Premium (ANP).

    We remain unwavering in our commitment to make a positive difference to the lives of our customers and their families. In 2018, on top of our efforts to deepen customer engagement with AIA Vitality, we launched Personal Medical Case Management service through our exclusive partnership with Medix, expanded the AIA Quality Healthcare Partners network and increased the number of participating hospitals with pre-approval claim services. These were part of the company’s concerted approach to provide a comprehensive and innovative health and wellness proposition for our customers.

    In 2018, we continued to invest in Singapore’s health and financial wellbeing through innovations and initiatives, as well as intensify our efforts to transform our business in the areas of data and digitalization. This is our commitment to meet the evolving needs of our customers and help them live healthier, longer and better lives as we celebrate AIA’s centennial in 2019.”  

    Key innovations and initiatives in 2018 to meet the evolving protection and financial needs of customers include:

    • Medix (Personal Medical Case Management Service) – AIA Singapore is the first insurer in Singapore to provide our customers with Personal Case Management Service with no additional charge. The exclusive partnership with Medix enables AIA Singapore customers to receive the best possible treatment and personalised ongoing support throughout their medical journey till recovery when faced with serious medical conditions, boosting customer experience with quality healthcare. Obtaining timely and accurate diagnosis and having access to optimal treatment will alleviate stress and provide peace of mind for customers and their families in their time of need.
    • AIA Pro Lifetime Protector – In response to young families’ concerns on facing the risks of pregnancy complications, birth defects, long-term impact of a child’s developmental and learning disorders and managing the high costs of raising a child, AIA Pro Lifetime Protector was launched in 2018. It is an all-in-one investment-linked plan, alongside three distinctive riders, with market-first features specially introduced to help address the unmet needs of young families in Singapore.
    • POS EZ – We created an online platform and first-in-market innovation that has changed the way after-sales service is being conducted. With this platform, our agency can facilitate a multitude of customer requests digitally with customers authenticating their requests securely anytime, anywhere. Our innovation was recognized by being awarded as 'Innovator of the Year - Life Insurance at the Singapore Business Review Management Excellence Awards 2018'.

    We encouraged the community to stay active and healthy by engaging in health and wellness initiatives such as Fitness Fest by AIA, The Music Run™ by AIA, KidZania Singapore’s “AIA at the Stadium”, and the ‘What’s Your Why’ campaign with David Beckham, our Global Ambassador for healthy living.

    - End -

     

    About AIA

    AIA Group Limited and its subsidiaries (collectively “AIA” or the “Group”) comprise the largest independent publicly listed pan-Asian life insurance group. It has a presence in 18 markets in Asia-Pacific – wholly-owned branches and subsidiaries in Hong Kong, Thailand, Singapore, Malaysia, China, Korea, the Philippines, Australia, Indonesia, Taiwan, Vietnam, New Zealand, Macau, Brunei, Cambodia, a 97 per cent subsidiary in Sri Lanka, a 49 per cent joint venture in India and a representative office in Myanmar. 

    The business that is now AIA was first established in Shanghai almost a century ago in 1919. It is a market leader in the Asia-Pacific region (ex-Japan) based on life insurance premiums and holds leading positions across the majority of its markets. It had total assets of US$230 billion as of 31 December 2018. 

    AIA meets the long-term savings and protection needs of individuals by offering a range of products and services including life insurance, accident and health insurance and savings plans. The Group also provides employee benefits, credit life and pension services to corporate clients. Through an extensive network of agents, partners and employees across Asia-Pacific, AIA serves the holders of 33 million individual policies and over 16 million participating members of group insurance schemes. 

    AIA Group Limited is listed on the Main Board of The Stock Exchange of Hong Kong Limited under the stock code “1299” with American Depositary Receipts (Level 1) traded on the over-the-counter market (ticker symbol: “AAGIY”).

    Contacts

    Investment Community

    Lance Burbidge

    +852 2832 1398

    Evelyn Lam

    +852 2832 1633

    Feon Lee     

    +852 2832 4704

    Rachel Poon

    +852 2832 4792

    News Media

    Stephen Thomas 

    +852 2832 6178 

    Mark Walters 

    +852 2832 1978 

    Emerald Ng

    +852 2832 4720

    Joanna Ash

    +65 6530 0863 

    Elizabeth Wong

    +65 6530 0891



    1The Company announced the Group’s audited consolidated results for the thirteen-month period ended 31 December 2018 today. In February 2018, the Board resolved to change the Company’s financial year-end date from 30 November to 31 December. Accordingly, the current financial period-end date of the Company is 31 December 2018. The 2018 consolidated financial statements adopting the new year-end date is for the thirteen-month period ended 31 December 2018 with the comparative figures prepared based on the twelve-month period ended 30 November 2017. For details, please visit www.aia.com for the Company’s 2018 Annual Results Announcement published today.


    APPENDIX
    Financial Summary

    Key Performance Highlights

    Key Performance Highlights

    New Business Performance by Segment 

    New Business Performance by Segment

    Singapore 

    Singapore

    Notes: 

    (1) All figures are presented in actual reporting currency (US dollar) and based on actual exchange rates (AER) unless otherwise stated. Change on constant exchange rates (CER) is calculated using constant average exchange rates for the twelve months ended 31 December 2018 and for the twelve months ended 31 December 2017 other than for balance sheet items that use CER as at 31 December 2018 and as at 31 December 2017.

    (2) Change is shown on a year-on-year basis compared with the corresponding twelve-month period ended 31 December 2017, unless otherwise stated.

    (3) VONB is calculated based on assumptions applicable at the point of sale and before deducting the amount attributable to non-controlling interests. The amounts of VONB attributable to non-controlling interests in the twelve months ended 31 December 2018 and in the twelve months ended 31 December 2017 were US$27 million and US$22 million respectively.

    (4) VONB includes pension business. ANP and VONB margin exclude pension business.

    (5) OPAT is shown after non-controlling interests unless otherwise stated.

    (6) The growth rates of underlying free surplus generated are calculated on a comparable basis before the reduction of US$263 million in the twelve months ended 31 December 2018 relating to the change in reserving and capital requirements for consolidation purposes following the subsidiarisation of AIA Korea.

    (7) Total dividend of HK$1.14 per share for the twelve months ended 31 December 2018 does not include the special dividend for the additional month in the accounting period due to the change in financial year-end.

    (8) Hong Kong refers to operations in Hong Kong and Macau; Singapore refers to operations in Singapore and Brunei; and Other Markets refers to operations in Australia (including New Zealand), Cambodia, Indonesia, Korea, the Philippines, Sri Lanka, Taiwan, Vietnam and India. The results of our joint venture in India are accounted for using the equity method. For clarity, TWPI, ANP and VONB exclude any contribution from India.

    (9) AIA’s financial information in this document is based on the audited consolidated financial statements and supplementary embedded value information for the twelve months ended 31 December 2018, unless otherwise stated. 

    This document contains forward-looking statements relating to AIA Group Limited that are based on the beliefs of the Group’s management as well as assumptions made by and information currently available to the Group’s management. These forward-looking statements are, by their nature, subject to significant risks and uncertainties. When used in this document, the words “will”, “future” and similar expressions are intended to identify forward-looking statements. You are strongly cautioned that reliance on any forward-looking statements involves known and unknown risks and uncertainties. Actual results and events may differ materially from information contained in the forward-looking statements.

    This document is for information purposes only and does not constitute an invitation or offer by any person to acquire, purchase or subscribe for securities. This document is not, and is not intended to be, an offer of securities for sale in the United States. The securities of AIA Group Limited have not been, and will not be, registered under the U.S. Securities Act of 1933, as amended (the “U.S. Securities Act”) and may not be offered or sold in the United States absent registration or an applicable exemption from registration requirements under the U.S. Securities Act. There is not, and is not intended to be, any public offering of such securities in the United States. 

    ###

    CONTACT AIA

    1800 248 8000

    1 Finlayson Green
    Singapore 049246
    View Details

    BOOK AN APPOINTMENT

    GO TO

    AIA.COM

    Visit our corporate site to learn more about AIA.
    Go To
    CONTACT AIA

    1800 248 8000
     

    1 Finlayson Green
    Singapore 049246

    View Details

    BOOK AN APPOINTMENT

    GO TO

    AIA.COM

    Visit our corporate site to learn more about AIA.
    OUR INSURANCE PRODUCTS
    Life Protection
    Medical Protection
    Critical Illness Protection
    Disability Income Protection
    Accident Protection
    Savings
    Investments
    Platinum
    Travel and Lifestyle
    EXPLORE AIA
    AIA Retirement Solutions
    Your Learning Buddy
    AIA Altitude
    Careers
    AIA Vitality
    Sitemap
    USEFUL LINKS
    Recent Promotions
    AIA Funds Information
    FAQs
    Form Library

    This website uses cookies for the purpose of enhancing your user experience. You can find more information on the types of cookies we collect, what we use these for, and how to manage your cookie settings in our Cookie Policy and AIA Personal Data Policy (Singapore).

    ABOUT AIA
    Explore AIA
    AIA Retirement Solutions
    Your Learning Buddy
    Wealthbeing by AIA
    Careers
    AIA Vitality
    Sitemap
    OUR INSURANCE PRODUCTS
    Life Protection
    Medical Protection
    Critical Illness Protection
    Disability Income Protection
    Accident Protection
    Savings
    Investments
    Platinum
    Travel and Lifestyle

    This website uses cookies for the purpose of enhancing your user experience. You can find more information on the types of cookies we collect, what we use these for, and how to manage your cookie settings in our Cookie Policy and AIA Personal Data Policy (Singapore).

    USEFUL LINKS
    Recent Promotions
    AIA Funds Information
    FAQs
    Form Library
    Digital Payments
    Security Advisories

    Copyright © 2022 AIA Group Limited and its subsidiaries. All rights reserved.
    Terms of Use | AIA Personal Data Policy (Singapore) | Cookie Policy