AIA Group Ltd. posted a jump in the value of new business as the exit of Hong Kong and China from pandemic restrictions helped support the insurer’s key gauge of profitability.
(Bloomberg) — AIA Group Ltd. posted a jump in the value of new business as the exit of Hong Kong and China from pandemic restrictions helped support the insurer’s key gauge of profitability.
New business value, excluding the impact of currency fluctuations, rose 32% in the six months to June 30, the Hong Kong-based insurer said in a statement Thursday. That beat the mean estimate 26.6% of 10 analysts surveyed by the company.
With quarantine-free travel resuming in Hong Kong during the first quarter and visitors starting to return to the city after the Covid-19 shutdowns, sales of insurance products ramped up during the second quarter.
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