Hong Kong, March 14 – The Board of AIA Group Limited (the Company) has released the Group’s financial results for the year ended December 31,2024.
Growth rates are shown on a constant exchange rate basis:
New business performance
* Value of new business (VONB) up 18 per cent to US$4,712 million
* All reportable segments delivered double-digit VONB growth
* Annualised new premiums (ANP) up 14 per cent to US$8,606 million
* New business profitability increased with VONB margin up 1.9 pps to 54.5 per cent
Embedded value
* EV Equity of US$71.6 billion after capital returns to shareholders, up 9 per cent per share
* Embedded value (EV) operating profit of US$10,025 million, up 19 per cent per share
* Operating ROEV of 14.9 per cent, up 200 basis points from 12.9 percent in 2023
IFRS earnings
* Operating profit after tax (OPAT) of US$6,605 million, up 12 per cent per share
* On track to meet OPAT per share CAGR target of 9 to 11 per cent from 2023 to 2026
* Operating ROE of 14.8 per cent, up 130 basis points from 13.5 percent in 2023
Free surplus generation
* Underlying free surplus generation (UFSG) of US$6,327 million, up 10 per cent per share
* Net free surplus generation (net FSG)(3) of US$4,020 million after reinvestment in organic new business
* Shareholder capital ratio(4) of 236 percent at 31 December 2024
Dividends and share buy-back
* Final dividend increased by 10 per cent to 130.98 Hong Kong cents per share
* New US$1.6 billion share buy-back(5) in accordance with enhanced capital management policy
* US$6.5 billion returned to shareholders in 2024 through dividends and our share buy-back program
Lee Yuan Siong, AIA’s Group Chief Executive and President, said, “AIA has delivered an excellent performance in 2024 with record new business profits, strong earnings growth and free surplus generation. We have continued to drive higher operating ROEV and ROE while returning substantial capital to shareholders. VONB was up 18 per cent to US$4,712 million with all reportable segments achieving double-digit growth, reflecting the diversification and strength of our business.
“Successive layers of profitable new business drive sustained growth in earnings and cash generation with OPAT per share up 12 percent and UFSG per share up 10 percent. EV Equity per share increased by 9 per cent, after returning US$6.5 billion to our shareholders through dividends and share buy-back.
“The Board has recommended a 10 per cent increase in the final dividend to 130.98 Hong Kong cents per share, which results in an increase of 9 per cent in total dividend per share for 2024,” he said.
