友邦保险(01299) - 2023 - 年度业绩

New Business Value Growth - AIA's new business value in Hong Kong grew by 82% in 2023, with annualized new premiums increasing to $2.407 billion, although the new business value margin decreased to 57.5$4,034 million, a 33% rise compared to 2022[171] - New business value in mainland China reached $1,037 million with a profit margin of 51.3$1,430 million with a profit margin of 57.5%, showing an 82% increase in annualized new premiums compared to the previous year[172] - Thailand reported new business value of $713 million with a profit margin of 93.3$394 million with a profit margin of 67.2%, marking a 10% increase in annualized new premiums compared to the previous year[172] - Malaysia's new business value was $319 million with a profit margin of 67.3$4,299 million with an overall profit margin of 55.6%, a 30% increase year-over-year at constant exchange rates[172] Financial Performance - AIA's operating profit after tax decreased by 17%, but adjusted for certain impacts, it showed an 8% growth[6] - The company reported a net profit of $3.764 million for the year, with total comprehensive income amounting to$2.426 million[85] - The company’s net profit for the year ended December 31, 2023, was $3,781 million, an increase of 12.4$3,365 million for the year ended December 31, 2022[103] - Total comprehensive income for the year ended December 31, 2023, was $2,426 million, a significant recovery from a loss of$5,494 million in the previous year[103] - The pre-tax profit for the year ended December 31, 2023, was $4,564 million, an increase from$4,054 million in the previous year[110] - The company reported a significant adjustment in financial investments, with a loss of $(9,435) million compared to a gain of$31,199 million in the previous year[110] Technology and Digital Initiatives - AIA's technology and digital initiatives have significantly improved operational efficiency and customer experience, with a focus on generative AI for better decision-making and productivity[12][13] - The AIA+ super app has been launched in multiple markets, enhancing digital experience and customer engagement, with plans for further expansion in 2024[15] - The group achieved an end-to-end straight-through processing rate of 85% in customer experience processes by December 2023, up from 35% in June 2020[29] - AIA China reported the highest straight-through processing rate at 91% among its seven business markets, all exceeding 80%[29] - In 2023, 79% of new business policies were completed through automated underwriting processes, and the end-to-end straight-through processing rate for purchase transactions increased by 36 percentage points to 72% since June 2020[56] - The company has made significant investments in technology, digital, and analytics to accelerate innovation and enhance decision-making and strategic execution[51] - The company is focusing on generative artificial intelligence applications to enhance operational efficiency and customer satisfaction[55] Health and Insurance Strategy - AIA's comprehensive health strategy aims to provide more accessible and efficient healthcare services across Asia, leveraging technology and data analytics[13] - AIA Thailand launched "AIA Health Saver" in 2023, attracting over 60% of policies from new customers, enhancing its leadership in the health and protection market[22] - Tata AIA Life introduced a market-first health plan in India, combining life insurance and health coverage, significantly expanding its ability to meet affluent customer needs[25] - AIA Malaysia launched new products with various deductibles and co-pay options to address recent healthcare spending inflation, promoting healthier lifestyles through "AIA Vitality"[26] - The company aims to create sustainable competitive advantages in health insurance through its comprehensive health strategy and integration with healthcare service providers[52] Governance and Financial Discipline - The company is committed to maintaining financial discipline and focusing on profitable new business growth to generate free surplus for reinvestment and shareholder value creation[50] - The company’s governance structure is responsible for overseeing the financial reporting process[75] - The company is closely monitoring developments related to the Pillar Two income tax policy, which may adversely affect its effective tax rate starting in 2025[63] - The company has initiated a share buyback program of up to $10 billion to return excess capital to shareholders[95] - The company plans to maintain a prudent and sustainable dividend policy while managing capital actively[95] Environmental, Social, and Governance (ESG) Commitment - The company has committed to achieving net-zero emissions by 2050, becoming the first in the Asia-Pacific region to have its short-term reduction targets verified by the Science Based Targets initiative (SBTi)[127] - AIA Group's commitment to environmental, social, and governance (ESG) issues has been recognized, achieving top ESG ratings for three consecutive years[155] - The company has successfully divested from coal mining and coal-fired power companies within its managed equity and fixed income portfolios[127] Shareholder Returns and Equity - The board proposed a final dividend of HKD 1.1907 per share, marking a 5$3,331 million in retained earnings after accounting for dividends and share repurchases[86] - Shareholders' equity decreased to $41,111 million as of December 31, 2023, down from$44,672 million in the previous year, reflecting a decline of 8.5%[105] - The company’s total comprehensive income attributable to shareholders was $2,417 million for the year ended December 31, 2023, compared to a loss of$5,497 million in the previous year[103]