Insurer AIA net profit jumps 54% to $2.7 bln
0 
|
|
|
Hong Kong-based AIA is one of the world's top 10 insurance companies. [CFP] |
Hong Kong-based AIA, one of the world's top 10 insurance companies, said Friday morning that its net profit after tax soared 54 percent year on year to 2.7 billion U.S. dollars in the fiscal year ending on Nov. 30, 2010.
It was AIA's first annual results since the largest initial public offering in Hong Kong's equity market history in October 2010, in which AIA raised 20.5 billion U.S. dollars for its former U.S. parent company AIG.
In the statement filed to the Hong Kong stock exchange before the trading hours, AIA said its operating profit before tax and operating profit after tax in 2010 increased by 18 percent over 2009 to 2.1 billion U.S. dollars and 1.7 billion dollars, respectively.
Its basic earnings per share stood at 22 U.S. cents in 2010, up 47 percent from a year earlier.
AIA's good performance in 2010 was underpinned by growth in Total Weighted Premium Income (TWPI), the broadest measure of premium income, which rose 12 percent year on year to 13 billion U. S. dollars, said AIA Group executive chairman and CEO Mark Tucker in the statement.
Its value of new business posted strong growth of 22 percent in 2010 to 667 million U.S. dollars.
AIA's total assets by the end of the fiscal year 2010 increased by 19 percent year on year to 107.9 billion U.S. dollars. Shareholders' equity grew 31 percent, or 4.7 billion U.S. dollars, to 19.6 billion U.S. dollars.
AIG, currently the single largest shareholder of AIA, owns about 32.9 percent of AIA's issued and outstanding share capital.
Go to Forum >>0 Comments