Hong Kong-listed AIA Group Ltd (AAGIY) reported that its full year net income surged 89% to $3.02 billion from $1.60 billion in the prior year.
Operating profit after tax up 12 per cent to $2.16 billion from $1.92 billion in the previous year. The increase was a result of overall growth in the business, strong investment income, effective expense management and a lower effective tax rate. Operating earnings per share were 18.0 US cents, up from 16.0 US cents a year earlier.
Value-of-new-business margin or VONB increased by 6.4 percentage points to 43.6%, while annualized-new-premium sales were up 17% at $2.70 billion.
The company said that its board of directors has recommended a final dividend of 24.67 Hong Kong cents per share for 2012, bringing total dividend for the year to 37 Hong Kong cents, up 12% from a year earlier.
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by RTT Staff Writer
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