The Board of Directors of AIA Group Limited released the financial results for the year ended 31 December 2020 showing a 5% growth in operating profit after tax (OPAT) and a 7.5% increase in the final dividend to 100.30 Hong Kong cents per share.
For the full year, value of new business (VONB) of US$2,765 million was 33% lower, reflecting operational challenges caused by the COVID-19 pandemic.
Sales momentum returned as movement restrictions were eased with VONB up 15 per cent year-on-year in the first two months of 2021.
The Group’s financial position remains very strong and resilient as demonstrated by the Group Local Capital Summation Method (LCSM) cover ratio of 374%.
Lee Yuan Siong, AIA’s Group Chief Executive and President, said: “AIA has delivered another very strong performance despite unprecedented macroeconomic conditions and the operational challenges caused by the COVID-19 pandemic.”
“While VONB was affected by social distancing measures, we achieved growth in all of our other key financial metrics. Sales momentum returned as restrictions were eased and we have delivered year-on-year VONB growth in the first two months of 2021.’
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