Good response to changes: AIA

The AIA group reported its results for the year ended November 30.

Value of new business was up 24%, there was 16% growth in operating profit after tax to $US2.91 billion ($3.86 billion) and 14% growth in embedded value operating profit to US$4.535 billion.

Mark Tucker, the group chief executive and president, said: “We have achieved a great deal since our IPO but, as I have said many times before, I strongly believe that we are still at an early stage in a long journey to realising AIA’s full potential. That is a very exciting prospect for our business. 2015 will be our fifth year since becoming an independently listed company and throughout this time we have generated year-on-year profitable growth and made substantial progress in delivering increase in long-term sustainable value for our shareholders. The Board has recommended a 19%increase in our final dividend, a clear reflection of the health of our business, the strong results and our confidence in AIA’s outstanding prospects.”

AIA New Zealand boss Wayne Besant said the New Zealand numbers were fed into the group numbers but a New Zealand result would be available in a couple of months’ time.