友邦保险(01299) - 2023 - 年度财报

Financial Performance - AIA Group reported total assets of $286 billion as of December 31, 2023[15]. - The company achieved insurance payouts and claims of$21 billion in 2023, an increase of $2 billion compared to 2022[16]. - AIA reported a total weighted premium income of US$340 million in 2023, reflecting a growth compared to US$262 million in 2022[53]. - The annualized new premiums reached US$71.2 billion in 2023, showing a slight decrease from US$71.2 billion in 2022[36]. - New business value increased by 33$4.034 billion, with double-digit growth in 10 markets and all distribution channels[62]. - The operating profit attributable to underlying value per share rose by 37%, driven by the growth in new business value, resulting in an operating return on embedded value increase of 350 basis points to 12.9%[111]. - The embedded value operating profit increased by 33% to $8.890 billion, reflecting significant growth in new business value and higher expected returns due to rising interest rates[157]. - The basic free surplus generated was$6.041 billion, with a per share increase of 5%, driven by higher interest rates, partially offset by medical claims experience[160]. - The contract service margin rose to $53.115 billion, with a basic contract service margin growth rate of 8.4$4.034 billion, supported by double-digit growth in 10 markets[154]. - The local capital adequacy ratio reported at 275% as of December 31, 2023, indicating strong financial health[184]. Shareholder Returns - AIA has returned US$7.2 billion to shareholders through an ongoing share buyback program, part of a total plan of up to US$10 billion[42]. - The group returned USD 5.9 billion to shareholders through increased dividends and ongoing share buyback programs, with free surplus before capital return increasing by 25%[103]. - The board proposed a final dividend of HK$1.1907 per share, a 5$1.6136 per share for 2023[64]. - The total dividend for 2023 reached HKD 1.6136 per share, a 5% increase from 2022[140]. - The share buyback program repurchased approximately 740 million shares for a total value of $7.207 billion, reducing the number of shares outstanding by 6$3.637 billion to shareholders through a share buyback program, in addition to a dividend of $2.293 billion[138]. Market Expansion and Operations - AIA Group's business covers 18 markets, with a focus on Asia, and serves over 42 million individual policyholders and more than 18 million group insurance plan participants[16]. - The company opened a new branch in Henan, upgraded its Shijiazhuang center to a branch, and is preparing to expand into Hubei and Sichuan provinces[19]. - AIA's joint venture Tata AIA Life is the third-largest private life insurance company in India and the leading retail protection provider[20]. - The company operates in 12 markets and has expanded its community initiatives across 18 markets in 2023[29][49]. - New business value in mainland China grew by 28$1.43 billion, contributing significantly to the group's new business performance[132]. - The new business value in China grew by 55%, with the company now operating 10 branches in the mainland[133]. - In Thailand, new business value rose by 21% to $713 million, with the company holding a 41$406 million, but excluding Vietnam, it increased by 15%[137]. - New business value from partner distribution channels surged by 58%, with bank insurance channels achieving a 42% increase[143].