AIA Singapore has released its results for the first half of 2019, marked by a slight decline in new business amid a “challenging market environment.”
According to a statement by the insurance company, value of new business (VONB) was US$173 million, down 2.8% from US$178 million during the same period last year. VONB margin, however, improved by 3.4 percentage points to 64.8%. Annualised new premiums (ANP) decreased by 6% year-on-year to US$267 million.
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