AIA Group (1299) Q3 2025 TU earnings summary

Executive summary

• Achieved record third quarter value of new business (VONB) of US$1,476 million, up 25% year-over-year on constant exchange rates, with double-digit growth in 11 of 18 markets.

• Premier Agency channel delivered 19% VONB growth, generating over 70% of Group VONB; partnership distribution VONB rose 46%.

• Strong recruitment momentum with 18% increase in new agents, supporting higher active agent numbers.

• Broad-based growth across Hong Kong, Mainland China, ASEAN, and India.

• Sir Mark Tucker appointed as Independent Non-executive Chairman from 1 October 2025.

Financial highlights

• VONB margin increased by 5.7 percentage points to 58.2% in Q3 2025.

• Annualised new premiums (ANP) grew 14% year-over-year to US$2,550 million.

• Total weighted premium income (TWPI) rose 14% to US$11,910 million.

• New business contractual service margin (NB CSM) increased by over 25% year-over-year.

Outlook and guidance

• Asia remains the most attractive region for life and health insurance, with structural growth drivers such as rising wealth and low insurance penetration.

• Confident in delivering operating profit after tax (OPAT) per share CAGR target of 9–11% from 2023 to 2026.