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AIA Group named systemically important insurer by Hong Kong IA
The company said the classification will not affect its operations.
AIA Group has been designated a Domestic Systemically Important Insurer (D-SII) by Hong Kong’s Insurance Authority under its new macroprudential supervision framework.
The company said the classification will not affect its operations or capital management, as it already complies with the IA’s Groupwide Supervision framework on capital, risk management, and internal controls.
AIA is one of Asia’s life insurers, with $328bin assets as of 30 June, serving over 43 million individual policyholders across 18 markets.
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