AIA seen to deliver strong 2025 results: CGS International

However, risks like capital controls, regulatory changes and pressure on investment yields may loom.

AIA is expected to deliver strong fiscal year 2025 (FY 2025) results, due for release in March 2026, CGS International said.

On fundamentals, AIA is seen as well placed to capture growth opportunities. 

Foreign currency household deposits in mainland China have risen 27% since June 2024, and US dollar-denominated insurance policies could become more attractive than US dollar time deposits if the US yield curve steepens. 

In Hong Kong, life insurance agent numbers have climbed to a 5.5-year high, with agents contributing 64% of AIA Hong Kong’s new business premiums in the first nine months of 2025.

CGS International expects FY 2025 to FY 2027 earnings to beat, supported by strong Hong Kong sales driven by mainland Chinese demand for offshore wealth diversification. 

Key risks include capital controls, regulatory changes and pressure on investment yields.