Insurtech Insights reported on 30 October that the Hong Kong-listed life and health insurer's third-quarter VONB fell 5%. All growth rates are at constant exchange rates. VONB fell 33% in China, which AIA linked to customers buying early before the industry repriced products on 1 September 2025. It fell 3% in Hong Kong, where VONB grew 20% across August and September after exceptional sales in July 2025.
Other markets grew: Thailand by 9%, Singapore by 22%, Malaysia by 10% and Other Markets by 14%. The margin on new business rose 5.3 percentage points, and September VONB was more than 25% higher than a year earlier.
Chief executive Lee Yuan Siong said the group started the fourth quarter "with strong momentum". AIA repeated that it expects to beat its target of 9% to 11% annual growth in operating profit after tax per share from 2023 to 2026.
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Insurtech Insights ↗News publisher · 30 Oct 2026
This is an original brief based on the linked publication. Company statements and forecasts are attributed to their source.



