Profits at AIA Group, the largest life insurer in Asia and Hong Kong, rose 24 per cent in the first half as a result of strong growth on the mainland, Thailand and Singapore.
The insurer reported net profits of US$1.31 billion for the six months to the end of May, with the gains mainly driven by a 32 per cent increase in the number of policies sold to US$399 million.
The profit figure included annual growth of 59 per cent in new business in Singapore, followed by a 51 per cent expansion in Thailand and 47 per cent on the mainland.
For Hong Kong, AIA's largest market, the company reported a 27 per cent increase in business. Meanwhile, Malaysia and South Korea had growth of 16 per cent and 8 per cent respectively.
AIA shares yesterday closed up 3.43 per cent at HK$28.65.
Chief executive Mark Tucker said new business and more sales agents would continue to be the firm's future growth engine.