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
Private taxi operators at BIA call for speedy rental relief as tourist arrivals dwindle
Private taxi operators at Bandaranaike International Airport are calling for urgent rental relief, stating that they are struggling to sustain operations after paying nearly Rs. 19 million in monthly rental fees amid a sharp decline in tourist arrivals during the off-season.
The operators said tourist arrivals have dropped by nearly 80%, severely affecting their income and making it difficult to continue meeting high operational costs.
“Only a small number of tourists are now arriving at the airport, and a majority of them are being taken by metered taxi operators, who pay only around Rs. 700 per ride as fees to Airport and Aviation Services, an operator said.
According to the operators, the six long-standing private taxi service providers at the airport each pay monthly rentals ranging from approximately Rs. 2.9 million to Rs. 4 million. In addition, they are required to maintain a minimum a fleet of six vehicles along with dedicated airport staff.
“What we are requesting is a temporary reduction in monthly rental payments for around three to four months until tourist arrivals improve and the industry returns to normal, they said.
The operators noted that they have been operating at the airport for more than two decades, providing transport services to both local and international travelers, while metered taxi services entered the airport transport sector only about two years ago.
They also alleged that metered taxi operators have been granted more favourable operating conditions and questioned the process through which those operators were allowed to operate at the airport.
Operators argue that the present financial burden has become unsustainable, given the sharp drop in business volumes and what they describe as an uneven competitive environment within the airport transport system.
“What we are requesting is a 50% reduction in monthly rental fees for a period of at least three months, they said.
They also raised concerns about the quality and condition of some vehicles operated by metered taxi providers.
“Passengers are often unaware of the condition of some of these vehicles until they enter them, which can compromise safety standards, one operator claimed.
In contrast, the private airport taxi operators say they maintain newer vehicles and employ experienced, professionally trained drivers to ensure higher standards of passenger safety and service quality.
The operators warned that failure to address the issue could have wider economic and social consequences. The six service providers collectively employ around 250 staff, and continued financial pressure may lead to job losses and a reduction in organised airport transport services.
By Hiran H Senewiratne
Business
Refurbished AAC Call Box declared open
The operation of Automobile Association of Ceylon(AAC) Call Boxes, in the past had provided yeoman service to many motorists including during the era of British planters. AAC services for members are a motoring security when they travel.
The Call Box in Nuwara Eliya was recently refurbished to provide a better and improved service to the Members in the area and the touring public. Now from this Call Box the motorists could get Road Side Assistance, Valuation Reports, Technical Advice and also issuance of International Driving Permits.

The refurbished Call Box at Nuwara Eliya was declared open by Dhammika Attygalle, President of the Association in the presence of S V Ganesh – Vice President, several Executive Committee members, Puthrasigamani, Life Member of the Association, Eng. C S Samarasekera of RDA- Nuwara Eliya, Devapriya Hettiarachchi, Secretary (AAC) and Eng. C L Liyanasuriya – Chief Engineer(AAC).
The services from the Nuwara Eliya Call Box are available from 8.00am to 5.00pm.
Call Technical Officer Sampath Madagama on 0767315696.
Business
Ceylon Chamber of Commerce to host Sri Lanka Climate Summit 2026
From Risk to Opportunity: Mainstreaming Climate Action into Sri Lanka’s Growth Story
As climate rules tighten globally and investor expectations shift from commitment to compliance, climate action is now directly tied to trade, competitiveness, and access to finance. Against this backdrop, The Ceylon Chamber of Commerce will host the second edition of the Sri Lanka Climate Summit on 9 June 2026 at the Taj Samudra Hotel, convening policymakers, industry leaders, financiers, and technical experts to focus on pathways for integrating climate action into Sri Lanka’s growth story.
Held as a biennial platform, the Summit returns this year under the theme “From Risk to Opportunity: Mainstreaming Climate Action into Sri Lanka’s Growth Story.” While the inaugural edition in 2024 focused on building awareness and advocacy, the 2026 Summit shifts the conversation toward implementation, technical readiness, and compliance as climate-related obligations begin to directly influence access to markets, finance, and investment.
Rather than treating sustainability as a standalone agenda, this year’s discussions will explore how climate considerations are becoming embedded across core areas of business and economic decision-making, from infrastructure and trade to finance, governance, digitalisation, agriculture, and supply chains.
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