AIA-友邦保险(01299) - 2022 - 年度财报

Financial Performance - Total assets of AIA Group reached $303 billion as of December 31, 2022[3]. - AIA Group's total assets reached US$ 71,202 million in 2022, reflecting a robust financial position[54]. - The company achieved a post-tax operating profit of US $5,689 million in 2022, indicating a strong performance in the insurance sector[32]. - The group reported a post-tax operating profit of USD 6.37 billion, representing a 5% increase per share, supported by a growing effective policy portfolio and active management of high-quality recurring earnings[136]. - The basic free surplus generated was$ 6.039 billion, with a year-on-year growth of 7% per share on a comparable basis, while post-tax operating profit reached $6.370 billion, reflecting a 5% increase per share[92]. - The company maintains a strong financial position with a free surplus growth to USD 23.679 billion, excluding dividends and share buyback plans[136]. - The return on equity for shareholders increased to 13.2% from 12.8% in 2021, reflecting strong operational profit margins of 17.7%[188]. - The local capital coverage ratio was reported at a strong 283% based on the new prescribed capital requirements[70]. - The local capital coverage ratio was very strong at 283%, down 13 percentage points due to the share buyback program[191]. Shareholder Returns - The company launched a$ 10 billion share buyback program aimed at enhancing shareholder returns while maintaining financial strength[19]. - The company returned $3.570 billion to shareholders as part of a three-year share buyback program, with a total capital return of up to$ 10 billion approved by the board[69]. - The board proposed a final dividend of HKD 1.134 per share, reflecting a 5% increase, resulting in a total annual dividend of HKD 1.5368 per share for 2022, up 5.3% from 2021[121][137]. - Shareholder equity was $50.634 billion, not including dividends of$ 2.259 billion and share buybacks of $3.570 billion, resulting in a net shareholder equity of$ 44.805 billion as of December 31, 2022[160]. Market Presence and Growth - AIA Group serves over 41 million individual policyholders and more than 17 million group insurance participants[5]. - AIA Group's total insurance coverage exceeds $20 trillion, reflecting its significant market presence[15]. - In 2022, AIA Group reported a total weighted premium income of US$ 6,370 million, reflecting a growth compared to previous years[32]. - The total weighted premium income for the year was reported at $36.176 billion, reflecting the company's strong market position in the life and health insurance sector[68]. - The new business value decreased by 5% to$ 3.092 billion for the year, but showed a 6% year-on-year growth in the second half of the year, with all five operating segments recording annual growth[68]. - The company achieved a 10% growth in new business value through strategic partnerships with leading banks, benefiting from collaborations in Malaysia, Indonesia, Hong Kong, and India[111]. - The new business value for 2022 decreased by 5% to $3.092 billion, although there was a 6% increase in the second half of the year[186]. - The new business value in mainland China reached USD 916 million with a profit margin of 69.5%, while annualized new premiums were USD 1.319 billion, reflecting a year-on-year decrease of 15% at constant exchange rates[166]. Health Insurance Initiatives - AIA Group's health insurance market expansion includes the acquisition of MediCard Philippines, enhancing its distribution capabilities in the growing health insurance market[21]. - AIA Group's comprehensive health strategy focuses on making healthcare services more accessible, affordable, and efficient[26]. - AIA Group's health plans in mainland China have 2.6 million members, demonstrating significant market penetration[50]. - AIA Group's health insurance initiative, "AIA One Billion," aims to improve the health of individuals across Asia, contributing to sustainable development[41]. - The company launched the "AIA Health Campus Program" in Australia, Hong Kong, Thailand, and Vietnam, targeting health promotion among students aged 5 to 16[42]. - The acquisition of Blue Cross (Asia) Insurance Limited and BOC Medical Services Limited expands the distribution partnership with East Asia Bank, enhancing AIA's health strategy in Hong Kong and the Greater Bay Area[145]. - AIA's acquisition of MediCard Philippines, Inc. provides access to a network of over 1,000 partner hospitals and clinics, serving over 920,000 members, thus enhancing product offerings and distribution capabilities[146]. Digital Transformation and Technology - The company has been recognized as the "Digital Insurer of the Year" for two consecutive years by InsuranceAsia News[5]. - The group achieved a straight-through processing rate of 70% by the end of 2022, an increase of 12 percentage points from the previous year, enhancing customer experience and operational efficiency[142]. - The company aims to develop Amplify Health into a leading digital health technology and integrated solutions business, enhancing healthcare delivery across Asia[78]. - The group’s technology capabilities have doubled since the announcement of its new strategy in 2020, with over 86% of IT infrastructure hosted on public cloud, leading to cost efficiencies[138]. - The digital tools implemented led to a 30% increase in new sales targets, generating over$ 500 million in annualized new premiums from the agency team and bancassurance channels[109]. Strategic Partnerships and Acquisitions - The company expanded its market presence by establishing a five-year bancassurance partnership with Prince Bank in Cambodia and extending its partnership with Vietnam Prosperity Joint Stock Bank for an additional four years[36]. - The company has established exclusive bancassurance partnerships to enhance its distribution network[9]. - The company completed the acquisition of a 24.99% stake in China Post Life Insurance, enhancing its distribution channels and customer base in mainland China[174]. - AIA Group's investment in China Postal Insurance is part of its strategy to expand its presence in the mainland market[19]. Environmental, Social, and Governance (ESG) Commitment - The company has been recognized for its commitment to ESG issues, ranking in the top 10% of the insurance industry by Sustainalytics[72]. - The company aims to achieve net-zero greenhouse gas emissions by 2050 or earlier, with ambitious reduction targets verified by the Science Based Targets initiative (SBTi)[176].