HONG KONG—AIA Group Limited, the parent organization of local insurer Philam Life, said the group delivered strong results for the year ending November 30, 2017 with double-digit growth across its main financial metrics.
AIA achieved excellent growth in value of new business with an increase of 28 percent, reaching a new high of $3.5 billion. It also delivered strong operating profit generation as reflected by a 16-percent increase in IFRS operating profit after tax to $4.6 billion and a 19-percent increase in embedded value operating profit to nearly $7 billion.
“Today’s results are the direct outcome of the scale, quality and breadth of AIA’s exceptional businesses across the region and the significant progress we are making in delivering our strategic objectives,” said AIA Group chief executive and president Ng Keng Hooi.