AIA Group Ltd. (1299), the third-largest Asia-based insurer, said its value of new business rose 22 percent in the third quarter to a record.
The gauge of projected future profitability of new policies increased to $300 million from $245 million a year earlier, the Hong Kong-based insurer said in a statement to the city’s stock exchange today.
Underlying annualized new premium, the sum of first-year premiums and 10 percent of single premiums, grew 17 percent to $696 million, from $594 million a year ago.
New business margin, measured by value of new business as a percentage of annualized new premium, widened by 11 percentage points to 42.6 percent.
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