Aia Group Ltd S/Adr (AAGIY) Q4 2025 Earnings Call

Investor webinar replay

Replay transcript excerpt

Good morning and thank you for joining AIA's 2025 Annual Results presentation. Today we have announced record results with double-digit growth in new business, earnings and cash generation, and a new share buyback of $1.7 billion. This performance demonstrates AIA's ability to convert our competitive advantages into strong growth for shareholders. Let me start with the financial highlights. Value of new business increased by 15% to a record $5.5 billion. EV equity rose to $79.7 billion, up by 14% per share, and this is after returning $4.7 billion to shareholders during the year. Underlying free surplus generation grew by 11% per share, and operating profit after tax was up by 12% per share. on track to meet or exceed our 2026 growth target. The Board has recommended a 10% increase in the final dividend per share and approved a new share buyback of $1.7 billion in accordance with our capital management policy. As you can see, we are delivering compounding new business that drives both cash generation and earnings growth. This performance reflects the execution of a clear and consistent strategy. It is fully aligned with Asia's long-term structural growth drivers and built on competitive strengths that are developed and enhanced over many years. Each of these strengths reinforces the other, and taken together, they are incredibly difficult to replicate. And this is what gives me confidence in AIA's ability to capture the significant opportunities across our markets. You can see this most clearly when we look at our individual businesses. In Hong Kong, we delivered record VOMB of $2.3 billion, an increase of 28%. Our premier agency continued to lead the market with almost 25% of agents achieving MDRT membership. Agency contributed 70% of Hong Kong's VOMB, growing by 26...