AXAHY, BGS, and AAGIY have been added to the Zacks Rank #5 (Strong Sell) List on May 9, 2022.
AIA Group Ltd on Friday launched a $10 billion share buyback plan and declared a higher final dividend on strong growth in 2021, but warned of near-term pain from a recent outbreak of coronavirus infections in Hong Kong. The Asia-focussed insurer's value of new business or VONB, which measures expected profit from new premiums and is a key gauge for future growth, rose to $3.37 billion for the year ended Dec. 31, from $2.77 billion a year earlier. China and Hong Kong accounted for about half of new business growth globally.
Insurer AIA Group Ltd raised its interim dividend on Tuesday and posted a jump in first-half new business value, as it recovered from pandemic-led business disruptions in most of its main markets apart from Hong Kong. The Asia-focused insurer's value of new business (VONB), which measures expected profit from new premiums and is a gauge for future growth, rose by 22% to $1.81 billion in the January-to-June period. VONB jumped 15% in AIA's largest market of mainland China, helping the company increase its interim dividend by 8.6% to 38.00 Hong Kong cents per share.