July 30, 2012

AIA Singapore, reported country specific results for the first time.

Net operating profit rises 8% to US$168m for H1; sales to high net worth clients growing fast.

 AIA Singapore, reporting results for the first time in its 81-year history here, said yesterday that operating profit after tax rose 8 per cent to US$168 million for the first half 2012.
The wholly owned unit of AIA Group, which was listed in Hong Kong in October 2010, saw strong growth in the value of new business, up 27 per cent to a record US$99 million. Singapore is its third largest market after Hong Kong and Thailand.
Annualised new premiums (ANP) rose a similar 27 per cent to US$152 million. ANP represents 100 per cent of annualised first year premiums and 10 per cent of single premiums.
Tan Hak Leh, chief executive of AIA Singapore, said business has not been affected by the economic slowdown.
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