AIA reports financial results for 2022, net profit for 2022 US$2.0 billion higher

The Board of AIA Group announced the Group’s financial results for the year ended 31 December 2022.Value of new business (VONB) was US$3,092 million for the full-year 2022. VONB grew by 6 per cent in the second half as the effects of the initial Omicron wave subsided. AIA China delivered positive VONB growth in the second half and into the first two months of 2023. All five of the largest operating segments delivered positive VONB growth in the second half.

Earnings and capital: Free surplus increased to US$23.7 billion before returning US$5.8 billion in dividends and share buy-back. Underlying free surplus generation (UFSG) of US$6,039 million, up 7 per cent(1) per share. Operating profit after tax (OPAT) of US$6,370 million, up 5 per cent per share. EV Equity of US$77.0 billion before dividends and share buy-back. Very strong Group LCSM cover ratio(2) of 283 per cent on the new PCR basis (552 per cent on MCR basis)

Net profit for the full-year 2022 to be at least US$2.0 billion higher Shareholders’ allocated equity and shareholders’ equity as at 31 December 2022 to be above the IFRS 4 levels. Significant reduction in leverage ratio

Dividends and share buy-back programme: Final dividend of 113.40 Hong Kong cents per share. Total dividend of 153.68 Hong Kong cents per share, up 5.3 per cent. US$10.0 billion share buy-back programme announced in March 2022 remains on track. US$3.6 billion returned to shareholders through the share buy-back programme in 2022

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