Insurer AIA's new business value drops on COVID 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.

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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
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