February 26, 2018 / 10:14 PM / 2 years ago

AIA Group FY new business value surges 28 pct, meets estimates

Feb 27 (Reuters) - AIA Group Ltd on Tuesday posted a 28 percent rise in new business in the latest fiscal year, meeting forecasts, as the insurer rode on sustained demand in its core markets of Hong Kong and China.

AIA’s value of new business, which measures expected profits from new premiums and is a key gauge for growth, rose to $3.51 billion for the year ended Nov. 30, up from $2.75 billion a year ago, the company said in a filing with the exchange.

Analysts had expected AIA to post a 28 percent jump in value of new business to $3.52 billion, as per Thomson Reuters data.

Reporting by Sumeet Chatterjee in Hong Kong and Rushil Dutta in Bengaluru; Editing by Chris Reese

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