Business
‘AIA delivers excellent financial results for 2024’

The Board of AIA Group Limited (the “Company”) is pleased to announce the Group’s financial results for the year ended 31 December 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 per cent 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 per cent 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 per cent 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 our enhanced capital management policy
US$6.5 billion returned to shareholders in 2024 through dividends and our share buy-back programme
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 per cent and UFSG per share up 10 per cent. EV Equity per share increased by 9 per cent, after returning US$6.5 billion to our shareholders through dividends and share buy-back.
“Following our prudent, sustainable and progressive dividend policy, 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. In addition, following our enhanced capital management policy, the Board has also announced a new share buy-back of US$1.6 billion. This comprises US$0.6 billion to meet the payout ratio target of 75 per cent of annual net FSG and an additional US$1.0 billion following a regular review of the Group’s capital position. Together, the dividends and share buy-backs amount to a total yield(6) of approximately 6 per cent for shareholders.
“AIA is uniquely well-positioned to capitalise on the long-term structural growth potential in the world’s most attractive market for life and health insurance through the consistent execution of our clear and ambitious strategy. I am confident that AIA’s long-term business prospects remain exceptional. We will continue to strengthen our substantial competitive advantages to capture the opportunities ahead of us and create sustainable value for all our stakeholders.”
Business
BOC secures ‘SLIM Kantar People’s Banking Services Brand of the Year 2025’

Reinforcing its position as a leader in Sri Lanka’s banking sector, Bank of Ceylon (BOC) has been once again named the ‘SLIM Kantar People’s Banking Services Brand of the Year’ at the SLIM Kantar People’s Awards 2025. This recognition, based on consumer preferences, highlights the bank’s role in Sri Lanka’s financial sector and its strong relationship with customers.
The SLIM Kantar People’s Awards, one of the most anticipated corporate events in Sri Lanka, is an accolade that directly reflects the voice of the people. Organised by the Sri Lanka Institute of Marketing (SLIM) and backed by an independent survey conducted by Kantar, the awards recognise brands and personalities that have established strong connections with Sri Lankan consumers. BOC’s repeated success in securing this award shows its continued trust and significance in the lives of millions.
As a financial institution that has played a key role in the country’s economic stability and growth , BOC continues to focus on digital banking, good governance, financial inclusion, and sustainability. Its efforts to improve financial literacy, promote savings and entrepreneurship, and support the SME sector have strengthened its position as a trusted financial partner.
Commenting on the achievement, the Chief Marketing Officer of Bank of Ceylon Sameera D Liyanage stated, “Winning the ˜People’s Banking Services Brand of the Year at the SLIM Kantar People’s Awards once again is a testament to the unwavering trust our customers place in Bank of Ceylon. This recognition reinforces our commitment to delivering innovative, accessible, and customer-centric banking solutions that empower individuals, businesses, and communities across Sri Lanka. As we continue this journey of excellence, we remain dedicated to shaping the future of banking with trust, resilience, and service at our core”
The bank attributes this latest recognition to the support of its customers and stakeholders. Expressing gratitude, BOC reaffirmed its vow to deliver banking solutions while maintaining a customer-focused approach. As it continues to adapt to technological advancements and market changes, BOC is focused on economic stability and financial well-being for all Sri Lankans.
For over 85 years, Bank of Ceylon has been a cornerstone of Sri Lanka’s financial landscape, connecting individuals and businesses to global opportunities. BOC’s extensive network with over 2,300 touch points spread across the nation, ensures that bank’s customers have convenient access to a wide range of financial services. Moreover BOC was ranked as the only Sri Lankan Bank among the Top 1000 World Banks 2024 and the Banker of the Year 2021,2023 and 2024 by The Banker Magazine UK, The Number 1 Banking Brand in Sri Lanka by Brand Finance Lanka. Internationally, Bank of Ceylon has established a strong presence in key locations such as a Subsidiary in London, UK; branches in Male and Hulhumalé in the Maldives; Chennai, India; and the Seychelles.(BOC)
Business
Sysco LABS concludes first edition of ‘Mentor Mash’ mentorship program

Sysco LABS recently concluded the first edition of ‘Mentor Mash’, an internal mentorship initiative designed to foster learning and professional development among colleagues. Over the course of six months, 26 mentor-mentee pairs engaged in structured mentorship, focusing on knowledge-sharing, career guidance and professional growth.
Speaking on the initiative, Rehan Anthonis, Senior Director – People Operations said: “At Sysco LABS, we recognize that the foundation of a strong workforce lies in continuous learning and development. The ‘Mentor Mash’ program was designed to provide colleagues with structured opportunities to gain insights, refine their skills and receive guidance from experienced professionals within the company. By fostering an environment where knowledge-sharing is prioritized, we are equipping our teams to drive innovation and excel as technology leaders.”
Sysco LABS remains committed to creating opportunities for internal learning, mentorship, and professional development, ensuring that colleagues are well-equipped to contribute meaningfully to company growth.
Business
Aitken Spence Institute of Hotel Management strengthens hospitality workforce with latest graduates

Aitken Spence Institute of Hotel Management, a key initiative of Aitken Spence Hotels’ Learning and Development arm, held its latest graduation ceremony at Heritance Ahungalla, marking another milestone in its mission to develop skilled professionals for the hospitality industry. Established in 2007 as part of the company’s strategic Corporate Social Responsibility (CSR) initiative, the institute operates with the support of the TUI Care Foundation, ensuring students receive world-class training and career opportunities.
With Hotel Schools in Ahungalla and Dambulla, the institute offers training in Food & Beverage, Housekeeping, and Professional Cookery through a five-month program that integrates classroom learning with practical industry experience. Since its inception, over 800 students have graduated, many securing employment within Aitken Spence Hotels or furthering their studies.
The 2025 graduating class comprised 90 students, with those from Ahungalla specialising in Food & Beverage and Housekeeping, while Kandalama graduates focused on Food & Beverage and Professional Cookery. The event was attended by graduates, their families, and senior representatives from Aitken Spence Hotels, including Susith Jayawickrama, Joint Managing Director of Aitken Spence Hotel Managements (Pvt) Ltd, Suresh Muttiah, Group Chief Human Resources Officer, and Maheesha Ratnayaka, COO of the Sri Lanka Hotel Sector.
Speaking at the event, Susith Jayawickrama emphasised the programme’s role in shaping the industry’s future workforce. “By equipping young professionals with the necessary skills and real-world exposure, we are not only enhancing their career prospects but also strengthening Sri Lanka’s hospitality sector,” he stated.
A notable highlight of the ceremony was the presence of Ms. Dagmar Wöhrl, Member of the Board of Trustees at the TUI Care Foundation, an organisation that has played a pivotal role in supporting the initiative. With assistance from the TUI Academy in collaboration with the Sustainable Hospitality Alliance, students receive comprehensive support, including accommodation, meals, uniforms, and a stipend during their training. The TUI Care Foundation is an independent charitable organization founded by TUI, one of the world’s leading tourism businesses and is dedicated to harnessing the positive impact of tourism to protect the natural environment and empower communities in travel destinations
More than 75% of graduates are expected to transition into roles within Aitken Spence Hotels, reinforcing the institute’s commitment to bridging the skills gap in the hospitality industry. This year’s ceremony once again highlighted the institute’s dedication to providing structured career pathways for aspiring hospitality professionals in Sri Lanka.
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