AIA Group reported a 13% growth in new business value (NBV) to US$3.21 billion on a reported basis in the first half of 2026, boosted by robust sales in Hong Kong and China [1, 2, 3]. On a constant currency basis, the insurer’s NBV increased 10% year on year for the period [1, 2, 3].

Hong Kong's NBV rose 10% to about US$1.17 billion, supported by demand from both mainland Chinese visitors and local customers [1, 3]. China saw an even sharper jump, with NBV up 26% to US$937 million in the first half [1].

Singapore also contributed to growth with a 14% increase in sales to US$294 million, driven primarily by wealth and long-term savings products aimed at affluent clients [1]. Meanwhile, Thailand was the only market to record a decline in NBV during the period [2, 3].

The group’s operating profit after tax rose 11% on a constant currency basis to US$4.16 billion, beating analyst expectations [2]. AIA’s annualised operating return on equity reached a record 17.5% in 2026, up from 15.5% in 2025 [1]. The company's new business value margin held steady at 57.1%, though product mix changes affected margins differently across markets including Hong Kong, China, and Thailand [3].

Despite Beijing’s increasing efforts to tax offshore wealth, AIA continued to see good demand from mainland Chinese visitors. Group CFO Garth Jones said, “Based on our understanding, there’s no change in the tax laws in China. People don’t come to Hong Kong to buy our products for tax reasons principally” [1]. Group CEO Lee Yuan Siong described Asia as “the most compelling growth opportunity for life and health insurance,” citing strong structural tailwinds and substantial demand for AIA’s products [2, 3].

AIA operates in 18 Asian markets, including China, Hong Kong, Singapore, Malaysia, Indonesia, the Philippines, South Korea, Australia, New Zealand, and a joint venture in India [3].

In March 2026, AIA announced a US$1.7 billion share buy-back plan, which was completed by June [1]. The insurer declared an interim dividend of 53.9 Hong Kong cents per share, a 10% increase from the previous year’s 49 HK cents [1, 2, 3].

The company’s next key event will be the full-year 2026 earnings report, expected in early 2027.