Business
AIA delivers highest quarterly new business results; value of new business up 31 percent
AIA Group Limited (the Company) announced 31 per cent growth in value of new business (VONB) on constant exchange rates (CER) for the first quarter ended March 31, 2024. AIA also announced details of an enhanced capital management policy, including a US$2.0 billion addition to the existing US$10.0 billion share buy-back programme.
Growth rates are shown on a constant exchange rate basis.
VONB grew 31 per cent to a record quarterly high of US$1,327 million
Double-digit VONB growth across all reportable segments
Increase in VONB margin to 54.2 per cent
Annualised new premiums (ANP) increased by 26 per cent to US$2,449 million
Enhanced capital management policy that will deliver greater clarity on capital returns to shareholders
US$2.0 billion addition to existing share buy-back programme, bringing the total to US$12.0 billion
Lee Yuan Siong, AIA’s Group Chief Executive and President, said:
“AIA’s very strong VONB growth of 31 per cent in the first quarter of 2024 and increased capital returns to shareholders demonstrate the enduring power of our competitive advantages and financial discipline. We have delivered a record high quarterly VONB of US$1,327 million with double-digit VONB growth across all of our reportable segments, highlighting the strength and diversification of AIA’s businesses.
“We are also announcing a new and more definitive capital management policy which will result in higher annual distributions to shareholders through a combination of dividends and share buy-backs. In view of AIA’s very strong financial position and our confidence in our future operational and financial delivery, the Board has approved a US$2.0 billion addition to our existing share buy-back programme, which will bring the total to US$12.0 billion. These actions underscore our commitment to systematically return capital that is excess to our needs, whilst continuing to deliver organic new business growth at attractive returns.
“Today’s announcement demonstrates that AIA has the right strategic priorities, and that consistent execution will deliver the right results for all our stakeholders. Our focus continues to be on driving profitable new business growth that will make a material difference in shaping AIA’s financial future by delivering increased future earnings, free surplus generation and ever greater shareholder value.”
AIA delivered a 31 per cent increase in VONB to US$1,327 million in the first quarter of 2024, with double-digit growth from all our reportable segments. Premier Agency achieved 20 per cent growth in VONB, driven by an increase in the number of active agents and higher productivity. VONB for our partnership distribution grew by 70 per cent with strong performances from both bancassurance and retail independent financial adviser (IFA) channels.
AIA China achieved VONB growth of 38 per cent. This was driven by a very strong double-digit increase in VONB from Premier Agency and continued growth in bancassurance. We also delivered broad-based VONB growth across both our established operations and new branches. VONB margin increased further to 54.6 per cent from 52.7 per cent in the second half of 2023. For clarity, VONB growth is shown on a constant exchange rate basis, with no recalculation of the comparative 2023 VONB results for economic assumptions used in the first quarter of 2024, which would otherwise have further increased the reported VONB growth rate on a like-for-like basis.
Our differentiated Premier Agency model in Mainland China achieved excellent results in the first quarter of 2024 with over 20 per cent growth in both the number of new recruits and active new agents. Our compelling propositions, in particular our tax-deductible private pension products, supported a very strong increase in the number of new customers. Agency VONB margin was stable at around 60 per cent, supported by very strong double-digit growth in VONB from traditional protection and continued customer demand for our long-term savings products.
Business
UN Global Compact Network Sri Lanka mobilizes business to lead with purpose
As businesses navigate an increasingly complex operating environment shaped by workforce transformation, evolving stakeholder expectations, technological disruption and shifting market demands, strengthening performance requires more than new strategies. It requires new ways of thinking, leading, and collaborating.
It was against this backdrop that UN Global Compact Network Sri Lanka convened CATALYZE 2026: Social, bringing together business leaders, sustainability practitioners, policymakers, development partners and industry experts to mobilize collective action and equip businesses with the knowledge, partnerships and practical approaches needed to strengthen performance through responsible business.
More than a forum for dialogue, CATALYZE 2026 was designed to help businesses think differently about performance. It reinforced that long-term success is increasingly shaped by how organizations lead, uphold human rights, foster inclusive workplaces, strengthen ethical governance, and build cultures that enable innovation, resilience and trust. Responsible business is no longer separate from business performance — it is fundamental to it.
Aligned with the UN Global Compact’s 2026–2030 Global Strategy, the Forum reflected its three strategic pillars — Equip, Catalyze and Advance — by strengthening business capability, fostering collaboration and mobilizing leadership to accelerate progress on social sustainability.
UN Global Compact Network Sri Lanka’s approach to social sustainability centres on driving this change — recognizing that meaningful progress comes not only through policies and commitments, but through the everyday decisions, leadership behaviours and organizational cultures that shape how businesses operate. CATALYZE 2026: Social encouraged participants to move beyond intention towards implementation, embedding responsible business practices into strategy, governance and organizational culture.
Opening the CATALYZE 2026: Social, Rathika de Silva, Executive Director of UN Global Compact Network Sri Lanka, spoke to the role of responsible business leadership in strengthening Sri Lanka’s global competitiveness:
“Sri Lanka has the workforce, resilience, and opportunity to compete not by being the cheapest producer, but by becoming the most trusted. As global expectations evolve, compliance is no longer simply a cost of doing business — it is the foundation of market access, and the decisions we make today will determine how strongly we compete in the markets of the future.”
The Forum featured keynote addresses, leadership dialogues and technical sessions on the issues shaping the future of business, including business integrity and anti-corruption, human rights, neurodiversity and inclusive workplaces, artificial intelligence and the future of jobs, the Women’s Empowerment Principles (WEPs), responsible sustainability communications, and workforce resilience. Together, these discussions highlighted how responsible leadership, inclusive practices, and strong governance contribute to organizational resilience, innovation, and long-term performance.
Business
A regional conversation on the future of English language teaching
Free British Council online conference brings together leading educators from across South Asia to explore how creativity, inclusion and technology can help prepare learners for a rapidly changing world
The British Council has announced the South Asia TeachingEnglish Online Conference 2026, a free three-day event that will convene educators, researchers and teacher educators from across the region to examine one of the most pressing questions facing education today: how can schools equip learners with the creativity, adaptability and communication skills needed to thrive in an increasingly complex world?
Taking place from 23–25 July 2026, the online conference comes at a time when education systems across South Asia are grappling with the challenge of balancing curriculum demands, assessment pressures and evolving learner needs. While English remains a critical gateway to academic and professional opportunities, educators are increasingly seeking approaches that move beyond language acquisition alone to foster critical thinking, collaboration, learner agency and participation.
Business
The Ceylon Chamber convenes dialogue on energy security and standards for Sri Lanka’s energy transition
The Ceylon Chamber of Commerce recently hosted a discussion titled “Energy Transition in Sri Lanka: Strategic Insights from Global Markets”, bringing together representatives from the public and private sectors, industry experts, academics, and other stakeholders to examine the opportunities and challenges associated with Sri Lanka’s evolving energy landscape.
Held at a time when countries around the world are accelerating their transition towards cleaner, more resilient, and technology-driven energy systems, the event provided a timely platform to examine renewable energy not only as an environmental priority but as a strategic pillar of national energy security, with implications for economic growth and long-term competitiveness. The discussion also considered the increasing importance of reliable energy infrastructure in meeting the growing demands of digital transformation, including emerging technologies such as artificial intelligence, electric mobility, and data centres.
The programme covered a wide range of topics relevant to Sri Lanka’s energy future, including renewable energy development, energy security, regulatory and policy frameworks, electricity sector reforms, energy storage systems, grid modernization, investment and financing considerations, and international experiences in energy transition. Particular attention was given to the need for creating an enabling environment that supports innovation, attracts investment, including the technical and safety standards required to protect consumers and businesses as storage and solar adoption scales nationally.
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