AIA Reports Financial Results For 2019 - Seite 3

"Over the last century, AIA has successfully managed through many different economic cycles. Some of our markets are facing near-term headwinds from the lower interest rate environment and the past two months have seen COVID-19 emerge as a new global risk. We have seen a significant disruption in the Group's new business sales in the first quarter from reduced face-to-face interactions and have taken a number of proactive measures including a rapid acceleration of digital platforms to further support agency recruitment, training and sales activities. AIA's agency recruitment pipeline in Mainland China remains strong. Our local businesses in affected areas have also been assisting communities with enhanced benefits and expedited claims procedures. Our thoughts are with the families and communities who have been affected by this public health emergency.

"The strong domestic drivers of demand and major demographic trends in Asia provide powerful structural support for the long-term prospects of AIA's business. We have unrivalled distribution capabilities and a diversified, high-quality portfolio of businesses across 18 markets, the latest addition being our recently- launched operation in Myanmar, and we are continuing our preparations for further geographical expansion in Mainland China. The need for AIA's insurance products will continue to grow strongly given rising incomes, low levels of private insurance penetration and limited social welfare coverage and I am confident that AIA is ideally positioned to deliver long-term sustainable growth."

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About AIA

AIA Group Limited and its subsidiaries (collectively "AIA" or the "Group") comprise the largest independent publicly listed pan-Asian life insurance group. It has a presence in 18 markets in Asia-Pacific – wholly-owned branches and subsidiaries in Hong Kong SAR, Thailand, Singapore, Malaysia, Mainland China, South Korea, the Philippines, Australia, Indonesia, Taiwan (China), Vietnam, New Zealand, Macau SAR, Brunei, Cambodia, Myanmar, a 99 per cent subsidiary in Sri Lanka, and a 49 per cent joint venture in India.

The business that is now AIA was first established in Shanghai a century ago in 1919. It is a market leader in the Asia-Pacific region (ex-Japan) based on life insurance premiums and holds leading positions across the majority of its markets. It had total assets of US$284 billion as of 31 December 2019.