AIA First Quarter New Business Value Rises 26%, Beating Estimate
- China again led new business value growth in the quarter
- Hong Kong policy sales through retail financial advisers slow
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AIA Group Ltd., the second-largest Asia-Pacific insurer by market value, said its value of new business rose 26 percent in the first quarter, as growth in China offset slowing Hong Kong sales.
The measure of estimated future profitability of new policies climbed to $1.02 billion in the three months ended March 31, from $811 million a year earlier, Hong Kong-based AIA said in a stock exchange filing Friday. That compares with an 18 percent estimate by Morgan Stanley and Goldman Sachs Group Inc. analysts.