AIA Hong Kong continues to lead the insurance industry with eight market share No.1s in the first quarter of 2024
HONG KONG SAR - Media OutReach Newswire - 3 June 2024 - AIA Hong Kong continues to lead the industry with eight market share No.1s in the first quarter of 2024 Provisional Statistics on Hong Kong Long Term Insurance Business1.
- Number of Inforce Policies
- Number of New Business Policies
- Number of Onshore New Business Policies
- Number of Offshore New Business Policies
- New Office Premiums from Agency Channel2
- Annualised New Premiums from Agency Channel3
- Number of New Business Policies from Agency Channel
- Number of New Business Policies from Brokerage Channel
Mr Alger Fung, Chief Executive Officer of AIA Hong Kong & Macau, said, "My heartfelt gratitude to our customers for their staunch support and to our financial planners, distribution partners and staff for their dedication and admirable teamwork. Last quarter saw our continued rollout of well-received holistic health and wealth solutions, including the flexible 'Global Power Multi-Currency Plan 3' which empowers customers for legacy planning and long-term wealth management. To help customers make better plans at the start of the year, we have further promoted our 'Tax Deductible' offerings that feature an array of Voluntary Health Insurance Schemes, MPF Tax Deductible Voluntary Contribution and Deferred Annuity products as well as 'On Your Side Plan' which offers multiple claims for designated critical illnesses, all of which have received very positive market response. Through the 'AIA Desired Retirement Tracker', we have gained multi-faceted insights about the protection needs and gaps of the working population for us to design a range of corporate solutions to help employers and employees build a robust safety net with better retirement and medical protection.
"The excellent performance in the first quarter is a testament to our focus on customer-centricity. We will continue to firmly embrace our 'ASPIRE For You, We Go Beyond' spirit and help everyone live Healthier, Longer, Better Lives."
Notes:
1 Provisional statistics of the Insurance Authority on Hong Kong long-term insurance business from January to March 2024. The policies refer to Direct New Business and Direct Inforce Business of Individual Life, Annuity and Linked Individual (Classes A & C) and Other Individual Business (Classes B, D, E&F). "Agency channel" refers to "Agents" as classified by the Hong Kong Insurance Authority under Distribution Channel. "Brokerage channel" refers to "Brokers" as classified by the Hong Kong Insurance Authority under Distribution Channel.
2 "New Office Premiums" represents 100% of annualised first year premium and 100% of single premium.
3 "Annualised New Premiums" represents 100% of annualised first year premium and 10% of single premium.
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About AIA Hong Kong & Macau
AIA Group Limited established its operations in Hong Kong in 1931. To date, AIA Hong Kong and AIA Macau have over 17,000 financial planners1, as well as an extensive network of independent financial advisors, brokerage and bancassurance partners. We serve over 3.5 million customers2, offering them a wide selection of professional services and products ranging from individual life, group life, accident, medical and health, pension, personal lines insurance to investment-linked assurance schemes with numerous investment options. We are also dedicated to providing superb product solutions to meet the financial needs of high-net-worth customers.
1 As at 31 December 2023
2 Including AIA Hong Kong and AIA Macau's individual life, group insurance and pension customers (as at 31 December 2023)
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