AIA Group Limited (OTCPK:AAGIY) Q4 2024 Results Earnings Conference Call March 13, 2025 9:00 PM ET
Company Participants
Lee Yuan Siong – Executive Director and Group Chief Executive and President
Garth Jones – Group Chief Financial Officer
Lance Burbidge – Chief Investor Relations Officer
Fisher Zhang – Regional Chief Executive
Biswa Misra – Group Chief Technology and Life Operations Officer
Jacky Chan – Regional Chief Executive and Group Chief Distribution Officer
Leo Grepin – Regional Chief Executive and Group Chief Strategy Officer
Tan Hak Leh – Regional Chief Executive
Conference Call Participants
Charles Zhou – UBS Securities
MW Kim – J.P. Morgan
Thomas Wang – Goldman Sachs
Richard Xu – Morgan Stanley
Kailesh Mistry – HSBC Global Banking & Markets
Michelle Ma – Citigroup
Michael Chang – CGS International Securities
Michael Li – Bank of America Securities
Lee Yuan Siong
Good morning and a warm welcome to AIA’s annual results presentation. I am delighted to report that AIA has delivered an excellent financial performance in 2024. We achieved double-digit growth across our key metrics for new business, earnings and cash generation, demonstrating the benefits of our growth strategy.
Let me now take you through the highlights. Value of new business was up by 18% to a record high of $4.7 billion, building on the strong momentum we have generated in previous years. EV equity increased to $71.6 billion, up by 9% per share after returning $6.5 billion to shareholders. Operating profit after tax also reached a record high, up by 12% per share, and underlying free surplus generation, our key operating measure of cash generation, grew by 10% per share. Following our capital management policy, the Board has recommended an increase of 10% in the final dividend per share and announced a new share buyback of $1.6 billion.
As you
