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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