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AIA’s reserves according to its first-half results |
AIA chief executive Mark Tucker has reason to be in a good mood as he steps out to greet Euromoney with a firm handshake in a boardroom in the insurance company’s AIA tower in central Hong Kong. The company reported record results for this financial year, beating all analysts’ predictions in announcing net profits under IFRS standards up 24% to $1.314 billion. Value of new business (VONB), the key metric by which Tucker has said he wants the company’s post-IPO performance to be judged, rose a consensus-beating $399 million (the most bullish guess was $375 million, from Morgan Stanley). That amounts to a 32% year-on-year rise.
Since the well-documented struggles the company faced before its initial public offering in October last year, including a halted first attempt at an IPO, declining performance figures, and...
