Aia Group Ltd S/Adr (AAGIY) Q2 2023 Earnings Call

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WEBVTT 00:00:00.031 -- 00:00:05.101 Good morning from Hong Kong and welcome to AIA's Interim Results Presentation 00:00:05.101 -- 00:00:07.546 for 2023. I 00:00:07.546 -- 00:00:12.655 am delighted to announce very strong results in the first half, with excellent new 00:00:12.655 -- 00:00:18.507 business momentum and growth in all of our key financial metrics. 00:00:18.507 -- 00:00:22.323 Let me provide some highlights from the results. 00:00:22.323 -- 00:00:27.340 AIA's unrivaled distribution platform has powered a very strong 00:00:27.340 -- 00:00:31.435 acceleration of sales momentum in the first half. 00:00:31.435 -- 00:00:36.556 DOND grew by 37% for the group. AIA Hong Kong delivered 00:00:36.556 -- 00:00:42.105 an outstanding performance, more than doubling its VONB, and we delivered 00:00:42.105 -- 00:00:47.413 double-digit growth in mainland China, ASEAN, and Tata AIA Life 00:00:47.413 -- 00:00:52.560 in India. Our excellent new business performance contributed to growth in EV 00:00:52.560 -- 00:00:55.164 equity to $70.6 00:00:55.164 -- 00:01:00.149 billion and operating ROEV of 13.3%. 00:01:00.292 -- 00:01:06.199 up nearly 4 percentage points from the full year 2022. 00:01:06.843 -- 00:01:11.891 Our large and diversified in-force portfolio drove growth in operating 00:01:11.891 -- 00:01:16.900 profit after tax and underlying free surplus generation, and our 00:01:16.900 -- 00:01:21.187 operating return on equity increased by 120 00:01:21.187 -- 00:01:24.409 basis points to 14.2%. 00:01:24.693 -- 00:01:29.720 The Group's capital position remained very strong, with free surplus of 00:01:29.720 -- 00:01:35.549 $16.3 billion, and the Board has declared an increase of 5% 00:01:35.549 -- 00:01:38.490 in the interim dividend. 00:01:38.874 -- 00:01:44.242 In addition...