Financial Performance - New business value decreased by 37% to $1.41 billion, with annualized new premiums down 24% to $2.58 billion[4]. - Operating profit after tax increased by 5% to $2.93 billion, while embedded value operating profit decreased by 13% to $3.88 billion[5]. - Basic free surplus generated during the period was $3.05 billion, up 11%[5]. - The solvency ratio of AIA Co. was strong at 328%, reflecting the company's robust financial position[6]. - Interim dividend increased by 5% to HKD 0.35 per share, demonstrating the company's strong financial health[6]. - AIA Group reported strong financial performance in the first half of 2020, demonstrating resilience amid the COVID-19 pandemic[14]. - The company maintained a prudent and sustainable dividend policy to seize future growth opportunities while ensuring financial flexibility[21]. - The net profit attributable to shareholders was $2,197 million, down from $3,359 million in 2019, a decrease of 34.5%[196]. - Basic earnings per share decreased to 18.22 cents for the six months ended June 30, 2020, down from 27.91 cents in 2019, a decline of 34.5%[196]. Business Operations - The company enhanced digital tools and online capabilities, with over 40% of policies issued in the second quarter completed via remote sales[6]. - The Hong Kong business saw a 68% decline in new business value due to quarantine measures affecting sales[6]. - New business value in mainland China contributed significantly, despite a 13% decline in the first half of 2020[6]. - The company aims to leverage its competitive advantages to provide personalized services and capitalize on growth opportunities in the Asia-Pacific region[6]. - AIA Group operates across 18 markets in the Asia-Pacific region, with most premiums collected in local currencies to mitigate foreign exchange risks[17]. Market Trends - The projected increase of 1.4 billion middle-class individuals in Asia over the next decade presents a sevenfold growth rate compared to other regions, indicating a strong market potential[14]. - The insurance penetration rate in many of AIA Group's markets remains low, indicating a significant opportunity for financial protection products[14]. - AIA's commitment to health and wellness is central to its mission, aiming to assist the public in leading healthier and longer lives[15]. New Business Value - New business value decreased by 37% to $1.41 billion in the first half of 2020 due to pandemic-related restrictions[20]. - New business value in Hong Kong decreased by 68% year-on-year to $306 million, with an annualized new premium of $565 million[26]. - New business value in mainland China was $594 million, with a value profit margin of 81.8%, and an annualized new premium of $726 million[26]. - New business value in Thailand decreased by 7%, but sales momentum began to recover in June following government restrictions being eased[28]. - New business value in Singapore decreased by 24%, primarily due to a decline in sales following the implementation of containment measures[28]. Investment and Assets - AIA Group has a total asset value of $291 billion as of June 30, 2020[7]. - Total assets increased from $284.132 billion on December 31, 2019, to $291.204 billion on June 30, 2020, an increase of $7.072 billion[59]. - Total liabilities increased from $228.737 billion on December 31, 2019, to $233.949 billion on June 30, 2020[62]. - The total equity attributable to shareholders increased by 3% to $56.804 billion as of June 30, 2020, compared to $54.947 billion at the end of 2019[54]. Risk Management and Compliance - AIA's risk management framework includes six components: risk management culture, governance, strategy, underwriting, control, and disclosure[117]. - The company integrates risk management into key business processes, including product cycle approval and strategic planning[118]. - AIA has maintained compliance with the corporate governance code as per the Hong Kong Stock Exchange rules, with one exception regarding reporting mechanisms[119]. Employee and Shareholder Information - As of June 30, 2020, the company employed approximately 23,001 employees, an increase from 22,000 employees as of June 30, 2019[146]. - Total employee benefit expenses for the six months ended June 30, 2020, amounted to approximately $817 million, compared to $780 million for the same period in 2019[146]. - The company reported a total of 1,197,133 stock options granted to the CEO, with an exercise price of HKD 68.10[141]. Future Outlook - The company plans to focus on market expansion and new product development to drive future growth[1]. - The group expects that the newly issued standards will not have a significant impact on its financial position or operating performance[171].

Financial Performance - AIA Group reported total assets of $284 billion as of December 31, 2019[2]. - After-tax operating profit grew by 9% to $5.741 billion, while basic free surplus rose by 13% to $5.501 billion[28]. - Shareholders' equity based on intrinsic value increased by 12% to $63.905 billion[28]. - The solvency ratio of AIA Co. was 362%, with free surplus exceeding required regulatory capital by $14.917 billion[28]. - Total weighted premium income reached $35 billion, reflecting a strong performance despite geopolitical challenges[19]. - New business value increased to $4.154 billion, with a 16% rise excluding Hong Kong operations[28]. - The company reported a 13% growth rate in fixed exchange rates for total assets and a 19% increase in total liabilities[19]. - The total dividend for the year was HKD 126.60 per share, an 11% increase from HKD 114.00 in 2018[37]. - Net profit for 2019 reached $6.648 billion, a 165% increase compared to 2018, influenced by positive market fluctuations in equity and real estate[76]. - The average shareholders' equity increased by $3.216 billion to $39.820 billion, maintaining an operating return of 14.4%[55]. Market Expansion and Operations - The company serves over 36 million individual policyholders and more than 1.6 million group insurance participants across 18 markets in the Asia-Pacific region[2]. - AIA Group became the largest independent listed life insurance group in the Asia-Pacific region, with a market presence in 18 markets[2]. - The company was granted permission to operate in Myanmar, becoming the first foreign life insurer to issue policies in the country[11]. - AIA's market expansion included the launch of operations in Myanmar in November 2019[29]. - AIA Group's market presence in China is a core part of its growth strategy, with plans to convert its Shanghai branch into a subsidiary[37]. - The company opened marketing service departments in Tianjin and Shijiazhuang to promote insurance industry collaboration in the Beijing-Tianjin-Hebei region[11]. Strategic Partnerships - AIA Group extended its strategic partnership with Commonwealth Bank of Australia for a further 25 years, enhancing its control over life insurance operations in Australia[11]. - The company signed a Joint Cooperation Agreement with the Commonwealth Bank of Australia to extend their strategic partnership for 25 years[41]. Digital Transformation and Innovation - Over 80% of customer interactions are now conducted digitally, with over 90% of new policies submitted digitally and automated underwriting accounting for 62%[44]. - AIA's digital transformation initiatives are aimed at enhancing end-to-end customer experience and improving sales conversion rates through data analytics[44]. - The company launched a new digital support platform for distribution partners to enhance customer targeting and insurance initiatives[106]. - The "AIA Smart" app launched in April 2019 significantly improved the productivity of agents using the platform[115]. - The company launched a mobile app "AIA Connect" in Hong Kong, facilitating a 20% reduction in paper submissions and handling 80% of common inquiries through a built-in chatbot[116]. Customer Engagement and Health Programs - AIA Vitality, a health program based on scientific data, is part of the company's transformation towards becoming a lifelong partner for customers[38]. - Health program membership exceeded 1.7 million, a 42% increase from the end of 2018, reflecting the company's commitment to improving customer health and well-being[43]. - The "AIA Vitality" program has been launched in 12 markets, significantly changing customer perceptions of life and health insurance[108]. - In 2019, 21% of "AIA Vitality" members improved their Body Mass Index (BMI), and 39% improved their cholesterol levels to healthy levels[108]. Employee Engagement and Development - AIA Group has over 23,000 employees and emphasizes talent development as a strategic priority, launching a comprehensive learning and development strategy in 2019[177]. - The AIA Leadership Centre in Bangkok hosted over 250 events and provided more than 25 customized training programs in 2019, focusing on leadership development[178]. - AIA Group was recognized as a preferred employer in 2019, receiving multiple awards including being listed in Forbes' "Global 2000 – World's Best Employers 2019"[183]. - AIA Group has been included in the Bloomberg Gender-Equality Index for three consecutive years, highlighting its commitment to gender equality[183]. Risk Management and Governance - The risk management framework ensures consistent implementation across the group and provides streamlined processes for timely identification, assessment, and reporting of risks[152]. - The board of directors is responsible for overseeing the group's risk management activities and has established a risk appetite statement to guide risk-taking[154]. - The company has established various committees, including audit, risk, and remuneration, to enhance operational efficiency and accountability[194]. - The company is actively involved in community and economic development initiatives, aligning with its corporate social responsibility goals[196]. Financial Outlook and Future Strategies - The company anticipates continued demand for its products due to strong local factors and favorable demographic trends in Asia, despite short-term uncertainties[46]. - Future outlook includes continued investment in new product development and technology advancements to meet market demands[196]. - The company is exploring potential mergers and acquisitions to strengthen its market position and expand its service offerings[195].

Financial Performance - New business value increased by 20% to $2.275 billion compared to the same period in 2018[3]. - Operating profit after tax rose by 12% to $2.898 billion[3]. - Annualized new premiums increased by 9% to $3.443 billion[3]. - Cash generation showed strong performance with basic free surplus rising by 15% to $2.804 billion[3]. - The solvency ratio for AIA Co. was reported at 415%[3]. - Interim dividend increased by 14% to HKD 0.333 per share[4]. - Total assets of the group reached $256 billion as of June 30, 2019[6]. - The net profit for the first half of 2019 was $3.864 billion, more than double the $1.662 billion reported in the same period of 2018, reflecting a year-on-year increase of 156% at fixed exchange rates[36][37]. - The company reported a net profit of $3.864 billion for the period, contributing to a total comprehensive income of $11.806 billion[130]. - Total revenue for the six months ended June 30, 2019, was $24,276 million, a 24.5% increase from $19,491 million for the same period in 2018[121]. Business Growth - New business value in China grew by 34%, marking it as the fastest-growing market segment[4]. - The exclusive agency distribution channel achieved a 21% increase in new business value[5]. - New business value increased by 20% to $2.275 billion, driven by double-digit growth in markets such as Hong Kong, Malaysia, and China[15]. - New business value in Hong Kong rose by 19% to $945 million, supported by broad growth in agency and partner channels[20]. - In China, new business value surged by 34% to $702 million, with a new business value margin of 93.2%[20]. - Malaysia achieved a double-digit new business value growth of 10% to $130 million, aided by increased active agents and improved productivity[22]. - Other markets recorded a strong new business value growth of 17%, supported by the acquisition of AIA Sovereign Limited[22]. Investment and Assets - The total investment portfolio reached $218.39 billion, up from $195.28 billion, maintaining an 88% allocation to policyholders and shareholders[48]. - The value of debt securities increased by 12% to $208.71 billion, compared to $186.14 billion at the end of 2018[47]. - Total assets increased by 17% to $255.69 billion as of June 30, 2019, compared to $229.81 billion at the end of 2018[47]. - The total amount of debt securities listed as of June 30, 2019, was $156,030 million, up from $140,221 million at the end of 2018, marking an increase of approximately 11.3%[172]. Shareholder Returns - The company declared an interim dividend of 33.30 cents per share, a 14% increase from 29.20 cents in the previous year[7]. - The basic earnings per share for the six months ended June 30, 2019, was $24.08, a 12% increase from $22.08 in the same period of 2018[7]. - The total equity attributable to shareholders increased to $40.271 billion as of June 30, 2019, after a dividend payment of $1.448 billion, reflecting a total change of $3.476 billion during the period[38][39]. Regulatory and Compliance - The company plans to fully implement the solvency regulatory framework in China by March 31, 2022[57]. - The implementation of IFRS 17 is ongoing, with the expected final standard to be published by mid-2020[58]. - The group has chosen to apply a temporary exemption regarding the adoption of IFRS 9, which outlines the classification, measurement, and recognition of financial assets and liabilities[137]. Risk Management - AIA's risk management framework is integrated into key business processes, ensuring that financial and operational risks are assessed in product development and strategic planning[90][91]. - The company maintains a focus on sustainable and profitable business growth in India, leveraging a diversified multi-channel distribution strategy[89]. Employee and Corporate Governance - As of June 30, 2019, the company employed approximately 22,000 employees, an increase from about 21,000 employees as of June 30, 2018[116]. - The company has adhered to corporate governance codes and standards, ensuring compliance with relevant regulations throughout the reporting period[92][93].

HEALTHIER CENTURY 引領 健康新世紀 2018年報 股份代號 1299 LEADING A 友邦保險控股有限公司 AlA GROUP LlMlTED 願景與目標 我們的願景是成為全球 領先的人壽保險供應商。 我們的目標是在推動 區內經濟及社會發展進程 中擔當領導角色。 我們整裝待發迎接 友邦保險另一個世紀的 成長及成就，我們的 品牌承諾 — 健康、長久、 好生活正好體現我們 努力的目標。 透過締造這一承諾， 我們能夠為大眾的 生活帶來重要和正面 的影響，並為我們於 亞太區內的社區建設 更美好的將來。 (1) 本報告所使用的部分照片為友邦保險集團2018年區域攝影比賽的得獎照片。友邦保險於 各個市場的員工透過其攝影作品展示健康、長久、好生活對他們的意義。 (2) 本報告所使用的若干詞彙的解釋和縮寫已列明於詞彙章節。 附註： 2015 柬埔寨 個市場 自1919年以來 致力推動亞洲的 經濟及社會發展 2001 印度 2013 緬甸 1947 菲律賓 1938 泰國 2000 越南 2012 斯里蘭卡 1957 汶萊 1948 馬來西亞 1931 新加坡 1984 印尼 1919 中國 1990 1 ...