The number marked a quarterly high for the group, registering double-digit VONB growth across its segments. During the quarter, VONB margin grew by 1.9 percentage points y-o-y to 54.2%. On a constant exchange rate, VONB margin was up by 2.1 percentage points y-o-y.
Based on 1QFY2024 results for the January-March quarter, AIA Group comes out ahead as investors’ favourite. More than that, CEO Lee Yuan Siong is targeting to return a 75% payout ratio to shareholders.
AIA reported a total value of new business (VONB) of US$1.33 billion ($1.8 billion) for the 1QFY2024 ended March 31, 27% and 31% higher on an actual exchange rate and constant exchange rate, respectively.
