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AIA declares $1.6 billion buyback, annual new business value rises 18%

Kong based insurer AIA on Friday declared a $1.6 billion buyback plan, citing a refurbished capital management policy, and posted an 18% rise in annual value of new business on strong performance at core markets.
AIA Group Ltd., Asia's largest insurer by market value, has announced a share buyback program worth up to $1.6 billion, signaling strong financial health and confidence in its future growth. This move comes alongside a reported 18% increase in the value of new business for the year, reaching $4.05 billion, driven by robust demand in key markets like Hong Kong and China. The company also highlighted a 37% surge in new business value in Hong Kong, attributed to the lifting of travel restrictions which spurred sales of savings and participating products. Additionally, AIA's operating profit after tax rose by 8% to $6.54 billion, and the insurer declared a final dividend of 118.20 Hong Kong cents per share, up from the previous year. These developments reflect AIA's strategic focus on expanding its presence and enhancing shareholder returns amidst a recovering economic environment.

Read the Full Reuters Article at:
https://www.msn.com/en-us/money/markets/aia-declares-1-6-billion-buyback-annual-new-business-value-rises-18/ar-AA1ASDhT

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