AIA Singapore, reporting results for the first time in its 81-year history here, said yesterday that
operating profit after tax rose 8 per cent to US$168 million for the first half 2012.
The wholly owned unit of AIA Group, which was listed in Hong Kong in October 2010, saw strong growth
in the value of new business, up 27 per cent to a record US$99 million. Singapore is its third largest
market after Hong Kong and Thailand.
Annualised new premiums (ANP) rose a similar 27 per cent to US$152 million. ANP represents 100 per cent of annualised first year premiums and 10 per cent of single premiums.
Tan Hak Leh, chief executive of AIA Singapore, said business has not been affected by the economic
slowdown.And just some updates on how our Disability Cover is doing:
This month the company launched a disability protection product, a first in Singapore, he said.
"We launched it after almost one year of research - it's income replacement until retirement," he said.
In less than one month, it has sold over 400 cases to customers in their late 20s to 40s, he said.
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