Insurer AIA's new business value drops on COVID-19 disruption

HONG KONG: AIA Group Ltd on Thursday posted a 13 per cent drop in new business value for the first half as COVID-19 lockdowns in the insurer's main markets of China and Hong Kong hit sales of its products.

AIA's mainland China business, its largest market, posted a 24 per cent decline in value of new business in the period. VONB at AIA's Hong Kong business rose 3 per cent, thanks to a drop in coronavirus infections there and strong growth in sales to mainland Chinese visitors who go across the border and buy insurance in Hong Kong.

I think it is not just due to Covid but I think a lot has to do with the service standards and attitudes of their agents. Since Covid, I have not heard from my agent at all except for when I have a claim. Maybe it’s because I have reach an age where I won’t buy anymore policies🤔

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Insurer AIA's new business value drops 13% in first halfHONG KONG : AIA Group Ltd on Thursday posted a 13 per cent drop in new business value in the first half of 2022, as COVID-19 lockdowns in the Asia-focused insurer's main markets of China and Hong Kong weighed down on insurance sales.The insurer's new business value (NBV), which measures expected profits f
Source: ChannelNewsAsia - 🏆 6. / 66 Read more »

Insurer AIA's new business value drops on COVID disruptionHONG KONG :AIA Group Ltd on Thursday posted a 13 per cent drop in new business value for the first half as COVID-19 lockdowns in the insurer's main markets of China and Hong Kong hit sales of its products.The insurer's new business value (NBV), which measures expected profits from new premiums and is a key g
Source: ChannelNewsAsia - 🏆 6. / 66 Read more »