AIA Group (1299) Q1 2026 earnings summary

Executive summary

• Achieved 13% year-over-year growth in value of new business (VONB) to US$1,757 million for Q1 2026, with broad-based growth across most segments except Thailand.

• Annualised new premiums (ANP) rose 16% to US$3,152 million, with strong contributions from both agency and partnership channels.

• Mainland China and Hong Kong delivered over 20% VONB growth, while Thailand saw an 18% decline due to a high prior-year base.

Financial highlights

• VONB margin remained robust at 56.0%, down slightly from 57.5% year-over-year.

• Total weighted premium income (TWPI) increased 13% to US$14,865 million.

• VONB margin on a present value of new business premium (PVNBP) basis was unchanged at 11%.

Outlook and guidance

• Despite geopolitical tensions and market volatility, structural tailwinds in Asia support strong long-term growth prospects.

• Strategic focus remains on profitable new business growth, increased future earnings, and greater shareholder value.