AIA posts 13% rise in new business value in Q1 2026

China and Hong Kong led the growth.

AIA Group reported a 13% YoY increase in the value of new business (VONB) for the first quarter of 2026, supported by growth across most of its reportable segments.

The pan-Asian life and health insurer said VONB rose to US$1.76b for the quarter ended 31 March 2026, from US$1.50b a year earlier. Excluding Thailand, where the company had a high base in the previous year, VONB increased by 22%.

Annualised new premiums grew 16% to US$3.15b, whilst VONB margin stood at 56.0%, compared with 57.5% in the first quarter of 2025.

Mainland China and Hong Kong led the group’s performance. AIA China posted 26% VONB growth, whilst AIA Hong Kong recorded 21% growth.

AIA Singapore also reported positive VONB growth, supported by bancassurance and independent financial adviser and broker channels, as well as demand for high-net-worth propositions.

Thailand was the only reportable segment to record a decline, with VONB down 18% due to a high base in the previous year. However, AIA said Thailand’s VONB was still 39% higher compared with the first quarter of 2024.

AIA also said it had bought back 56.7 million ordinary shares for about $4.81b, or around US$614m, under its latest US$1.7b share buyback programme as of 29 April 2026.

The company said long-term demand for life and health insurance in Asia remains supported by favourable demographics, rising incomes, low private insurance penetration, and limited social welfare coverage.