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Financials

AIA Group's new business value growth slows to 6% in 2019 on HK protests

March 12 (Reuters) - Insurer AIA Group Ltd said on Thursday its value of new business increased 6% last year, slowing from a robust growth posted in recent years, as months of anti-government protests in Hong Kong weighed on sales.

AIA’s new business value, which measures expected profits from new premiums and is a key gauge for future growth, rose to $4.15 billion in 2019, up from $3.96 billion a year earlier, according to its earning statement.

The Hong Kong-based company, which reported more than 20% annual growth in new business value in the last few years, was expected by analysts to post a rise of 8% to $4.28 billion, as per Refinitiv data.

Reporting by Sumeet Chatterjee in Hong Kong and Aby Jose Koilparambil in Bengaluru; Editing by Arun Koyyur

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