30th October 2026 – (Hong Kong) AIA said its new business value for the third quarter fell five per cent year on year to US$1.415 billion on a constant exchange rate basis, reflecting weaker results in Hong Kong and Mainland China, partly offset by an eighteen per cent increase from other reportable segments. In Hong Kong, quarterly new business value declined three per cent, though combined performance in August and September rose twenty per cent year on year, with growth across all customer groups and distribution channels. The group noted that local customers continued to deliver very strong new business value growth, while some Mainland visitor customers adopted a wait‑and‑see stance amid extensive reporting on overseas investments.
In Mainland China, third‑quarter new business value fell thirty‑three per cent, primarily due to a high base in the same period last year when customers brought forward purchases ahead of an industry‑wide repricing on 1st September. Supported by increases in both existing and newly recruited active agents, agency new business value returned to strong growth in September and is expected to accelerate in the fourth quarter. Bancassurance new business value was down by a high double‑digit per cent versus a year earlier but improved through the quarter, with September only slightly below the prior‑year level. A higher mix of protection products lifted agency contribution to forty‑six per cent and helped improve the third‑quarter new business value margin.
The group said new business value in September rose by more than twenty‑five per cent year on year and it expects strong momentum in the fourth quarter as the comparison base normalises. For the quarter, the overall new business value margin was 63.5 per cent, up 5.3 percentage points, while annualised new premiums declined thirteen per cent to US$2.237 billion, mainly reflecting the Mainland China business.
Group chief executive and president Lee Yuan Siong said that although exceptionally strong sales in Hong Kong and Mainland China a year earlier weighed on quarterly growth, momentum strengthened in September and into the fourth quarter. He reaffirmed confidence in exceeding AIA’s target for after‑tax operating profit per share compound annual growth of nine to eleven per cent from 2023 to 2026.
