AIA News

New Business Up 20% at Insurer AIA on Hong Kong, China Sales

Asia-focussed insurer AIA Group Ltd on Friday posted a 20% rise in new business for the first half of the year, as it sold more insurance products in its main markets of Hong Kong and China. AIA’s new business value, …

China Growth Helps Raise AIA Q1 New Business Value

AIA Group Ltd., the second-largest Asia-Pacific insurer by market value, said its value of new business rose 26 percent in the first quarter, as growth in China offset slowing Hong Kong sales. The measure of estimated future profitability of new …

Insurer Groups’ Supported Bills Signed into law by California Governor

Two insurance groups praised California Gov. Jerry Brown over his signing on various insurance-related legislation. Brown recently approved legislation co-sponsored by the Association of California Insurance Companies to enable California insurance customers to conduct more activities electronically. Brown signed Assembly …

AIA 2015 Net Income Drops 22% on Weak Asian Currencies, Market Volatility

AIA Group Ltd., the third-largest Asia-based insurer by market value, posted a 22 percent decline in full-year profit as weaker regional currencies and stock-market gyrations detracted from business growth. The insurance company announced an unexpected 50 percent increase in its …

AIA New Business Value Advances 21% in First Half on China

AIA Group Ltd., the third-largest Asia-based insurer by market value, posted a 21 percent increase in new business value as China became its second-largest market for the first time by that measure. The gauge of projected profitability of new policies …

Insurers Warn Against Encroachment on State Regulation

Insurance companies are calling for Congress to ensure state-based insurance regulation remains protected from federal or international “regulatory encroachment.” “Congress must now increase its oversight regarding the unprecedented federal and international intrusion into state insurance regulation,” Kurt Bock, CEO of …

Pearce Joins Trade Group AIA as Tax Policy Director

The American Insurance Association (AIA) announced that David F. Pearce Jr. has been named vice president, director of tax policy for the association. Pearce previously served as a partner at American Continental Group. Before joining American Continental Group, Pearce previously …

Hong Kong-Based AIA Group Beats Estimates With 22% Jump in Profit

AIA Group Ltd., the third-largest Asia-based insurer by market value, posted a bigger-than-expected 22 percent increase in full-year profit, led by business growth in China and Hong Kong. Net income climbed to $3.45 billion, or 28.73 cents a share, in …

Industry Told TRIA Won’t Be Renewed Until 2014

The property/casualty insurance industry should not count on Congress reauthorizing the federal terrorism reinsurance program this year or in time for January renewals, according to a key insurance lobbyist working on the issue on Capitol Hill. If Congress agrees to …

Aviva Names ex-AIA Chief Wilson as New CEO

The UK’s Aviva plc announced that Mark Wilson will join the board of the Company on December 1st, 2012 and will become chief executive officer effective January 1, 2013. John McFarlane, chairman of Aviva, who has been acting in an …