AIA Group's first-half new business value rises 10%

Aug 20 : Insurer AIA Group on Thursday posted a 10 per cent jump in half-year value of new business (VONB), backed by growth across all distribution channels and segments, excluding Thailand. AIA's VONB, a measure of expected profits from new premiums and a key barometer for future growth, came in at $3.21 billion on a constant exchange rate basis. That was in line with the absolute VONB consensus estimate of $3.2 billion compiled by the company.Excluding Thailand, the company's half-year VONB grew by 14 per cent from the previous year on a constant currency basis. Earlier this month, Hong Kong-listed insurers came under pressure after a report said that Chinese tax authorities are beginning to levy a 20 per cent personal income tax on returns from Hong Kong insurance policies, raising con