October 27, 2019 / 10:27 PM / a month ago

Insurer AIA third-quarter new business posts tepid rise as Hong Kong demand slows

Oct 28 (Reuters) - Asia-focused insurer AIA Group Ltd said on Monday it posted only a small rise in new business for the third quarter, affected by a “challenging operating environment” in Hong Kong amid political unrest in the Asian financial hub.

AIA’s new business value, which measures expected profits from new premiums and is a key gauge for future growth, inched up 1% to $980 million in the three months to Sept. 30. Excluding Hong Kong, new business grew 14%.

“The reduced numbers of Mainland Chinese visitors to Hong Kong continue to affect sales,” the company said in a statement.

Reporting by Devika Syamnath in Bengaluru; Editing by Peter Cooney

0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below