Asia-focussed insurer AIA Group Ltd reported a 1per cent rise in quarterly new business value on Tuesday as gross sales recovered from pandemic lows in its predominant markets of China and Hong Kong.
The insurer’s value of new business, or VONB, rose to US$741 million in the third quarter from US$735 million a 12 months earlier. VONB measures anticipated earnings from new premiums and is a key gauge for future progress.
(Reporting by Harshita Swaminathan and Selena Li; Editing by Devika Syamnath)
