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Formerly part of the American International Group (AIG), which required a US government bailout at the height of the global financial crisis in 2008, Hong Kong-based American International Assurance (AIA) separated from the group in 2009. A plan for UK-based Prudential to buy AIA for US$35.5 billion fell through, and AIA held an initial public offering in Hong Kong in 2010, raising US$20.5 billion.
- The plan involves setting up service centres in Shenzhen and one other mainland Chinese city featuring counters for Hong Kong insurers
- Initially the Hong Kong firms will be limited to handling claims, processing payments of their mainland clients, say sources familiar with discussions
AIA, Prudential and HSBC Life believe Beijing’s ambitious economic integration plan will allow Hong Kong insurers to establish services centres in mainland China to support future sales growth.
AIA, Prudential and HSBC Life believe Beijing’s ambitious economic integration plan will allow Hong Kong insurers to establish services centres in mainland China to support future sales growth.
Hong Kong-headquartered insurer AIA has been given the go-ahead by Beijing to convert its Shanghai branch into a wholly-owned subsidiary incorporated in the mainland’s financial capital, which will allow it to operate and expand within the country much like a local company.
Hong Kong-headquartered insurer AIA has been given the go-ahead by Beijing to convert its Shanghai branch into a wholly-owned subsidiary incorporated in the mainland’s financial capital, which will allow it to operate and expand within the country much like a local company.
Up to 40 per cent of new business sales in China could be at risk of being affected as AIA still relies heavily on agents to sell policies, says outgoing CEO Ng Keng Hooi.
Up to 40 per cent of new business sales in China could be at risk of being affected as AIA still relies heavily on agents to sell policies, says outgoing CEO Ng Keng Hooi.
The British insurer needs to break up into two publicly listed companies focused on the US and Asia to boost shareholder value, said activist investor Third Point.
The British insurer needs to break up into two publicly listed companies focused on the US and Asia to boost shareholder value, said activist investor Third Point.
Banks, insurers and a lending platform in Hong Kong are seeing a surge in online transactions as the biggest health scare since 2003 puts the city’s readiness on trial.
Banks, insurers and a lending platform in Hong Kong are seeing a surge in online transactions as the biggest health scare since 2003 puts the city’s readiness on trial.
Alibaba (9988 HK) fell again, posting its third straight day of losses. Sa Sa International (178 HK), Hong Kong’s biggest cosmetics retailer, declined after announcing cost cutting measures as it reels from protests, trade war.
Alibaba (9988 HK) fell again, posting its third straight day of losses. Sa Sa International (178 HK), Hong Kong’s biggest cosmetics retailer, declined after announcing cost cutting measures as it reels from protests, trade war.
Swire Pacific falls after saying it expects to post a lower recurring profit for this year.
Swire Pacific falls after saying it expects to post a lower recurring profit for this year.
AIA’s results cap a strong first half for Hong Kong’s insurance industry, where sales of life and medical insurance policies to mainland Chinese policyholders rose.
AIA’s results cap a strong first half for Hong Kong’s insurance industry, where sales of life and medical insurance policies to mainland Chinese policyholders rose.
Teardown works are set to get underway this month at AIA’s Stubbs Road headquarters
Teardown works are set to get underway this month at AIA’s Stubbs Road headquarters
AIA Group, the largest listed life insurance company in Asia-Pacific, on Friday reported a worse-than-expected 60 per cent decline in net profit for 2018, on the back of losses in value of stock and property investments.
AIA Group, the largest listed life insurance company in Asia-Pacific, on Friday reported a worse-than-expected 60 per cent decline in net profit for 2018, on the back of losses in value of stock and property investments.
Eleven insurers told the Post that they have been approved to start selling plans in the government’s Voluntary Health Insurance Scheme.
Eleven insurers told the Post that they have been approved to start selling plans in the government’s Voluntary Health Insurance Scheme.
The man who won 115 England football caps, has 54 million Facebook likes, and who’s family fortune is now worth a cool US$400 million, has a remarkably simple formula for happiness
The man who won 115 England football caps, has 54 million Facebook likes, and who’s family fortune is now worth a cool US$400 million, has a remarkably simple formula for happiness
From a humble upbringing in Guandong, to the peak of the Hong Kong life insurance community, Alwin Lam shares his thinking on what has made the sector a vital ingredient in Hong Kong’s financial scene
From a humble upbringing in Guandong, to the peak of the Hong Kong life insurance community, Alwin Lam shares his thinking on what has made the sector a vital ingredient in Hong Kong’s financial scene
Net profit was down more than 50 per cent year on year to US$1.66 billion – a bigger drop than expected by Bloomberg analysts
Net profit was down more than 50 per cent year on year to US$1.66 billion – a bigger drop than expected by Bloomberg analysts
Pan-Asian life insurer ready to expand in China as soon as government liberalises sector
Pan-Asian life insurer ready to expand in China as soon as government liberalises sector
The AIA Great European Carnival, Hong Kong's biggest annual winter funfair, is set to return to the Central waterfront from December 17 to February 21.
The AIA Great European Carnival, Hong Kong's biggest annual winter funfair, is set to return to the Central waterfront from December 17 to February 21.
AIA Group, the largest insurer in Hong Kong, and business incubator Nest teamed up last month to launch an ambitious accelerator programme dedicated to entrepreneurs and start-ups focused on health-care-related wearable technology.
AIA Group, the largest insurer in Hong Kong, and business incubator Nest teamed up last month to launch an ambitious accelerator programme dedicated to entrepreneurs and start-ups focused on health-care-related wearable technology.