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<Research>BofAS: AIA (01299.HK) 3Q VONB Grows 17% YoY, Faster than Expected
AIA (01299.HK) reported a 17% YoY increase in value of new business (VONB) in 3Q24, faster than expected, BofA Securities released a research report saying. All major markets repor...
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<Research>BofAS: AIA (01299.HK) 3Q VONB Grows 17% YoY, Faster than Expected
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AIA (01299.HK)  -0.300 (-0.482%)    Short selling $116.62M; Ratio 12.819%   reported a 17% YoY increase in value of new business (VONB) in 3Q24, faster than expected, BofA Securities released a research report saying. All major markets reported positive YoY growth in 3Q24, driven by the Hong Kong business as well as the agency and bancassurance channels.

The broker believed that AIA's growth momentum remains solid, and reiterated rating at Buy, with a target price of $92.2.

Related NewsCLSA Prefers PICC GROUP/ PING AN/ PICC P&C among CN Insurers w/ LT Top Pick Still AIA
China's VONB grew by 9% YoY on a constant exchange rate basis in 3Q24, according to the report. AIA began to focus more on dividend products with lower margin in August, which is believed to be a key focus for 2025 in the low interest rate environment.
(HK stocks quote is delayed for at least 15 mins.Short Selling Data as at 2024-11-04 16:25.)

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