AIA Hong Kong secures top market positions for Q1 2024

Successful launch of health and wealth solutions highlighted

AIA Hong Kong secures top market positions for Q1 2024

Insurance News

By Roxanne Libatique

AIA Hong Kong has secured leading positions in eight market share categories for the first quarter of 2024 (Q1 2024), according to provisional statistics on Hong Kong’s long-term insurance business.

The categories where AIA topped include:

  • number of inforce policies
  • new business policies
  • onshore new business policies
  • offshore new business policies
  • new office premiums from agency channels
  • annualised new premiums from agency channels
  • new business policies from agency channels
  • new business policies from brokerage channels

Alger Fung (pictured), chief executive officer of AIA Hong Kong & Macau, expressed appreciation for the support from customers and the dedication of the company’s financial planners, distribution partners, and staff.

“My heartfelt gratitude to our customers for their staunch support and to our financial planners, distribution partners, and staff for their dedication and admirable teamwork,” he said.

AIA Hong Kong’s health and wealth solutions

Fung highlighted the successful rollout of various health and wealth solutions.

“Last quarter, saw our continued rollout of well-received holistic health and wealth solutions,  including the flexible ‘Global Power Multi-Currency Plan 3,’ which empowers customers for legacy planning and long-term wealth management,” he said. “To help customers make better plans at the start of the year, we have further promoted our ‘Tax Deductible’ offerings that feature an array of Voluntary Health Insurance Schemes, MPF Tax Deductible Voluntary Contribution, and Deferred Annuity products as well as ‘On Your Side Plan’ which offers multiple claims for designated critical illnesses, all of which have received very positive market response.

“Through the ‘AIA Desired Retirement Tracker’, we have gained multi-faceted insights about the protection needs and gaps of the working population for us to design a range of corporate solutions to help employers and employees build a robust safety net with better retirement and medical protection.”

He emphasised AIA’s ongoing commitment to customer-centricity and helping people live healthier, longer, and better lives.

“The excellent performance in the first quarter is a testament to our focus on customer-centricity. We will continue to firmly embrace our ‘ASPIRE For You, We Go Beyond’ spirit and help everyone live Healthier, Longer, Better Lives,” he said.

AIA opens new sustainable headquarters in Hong Kong

AIA Hong Kong received the milestone after launching its newly redeveloped headquarters at 1 Stubbs Road, Wan Chai.

The AIA Building, which AIA fully owns, operates, and occupies, is Hong Kong’s first urban campus.

The 22-floor AIA Building, designed to house 1,800 employees, includes an indoor running track, an 80-meter atrium staircase, gym facilities, and a multi-purpose sports hall. Sustainability was a key focus in the building’s redevelopment, achieving platinum ratings in LEED, WELL, and BEAM+ pre-certifications. The building features electric vehicle chargers, rooftop solar panels, and a biodiesel generator with a self-sustaining power supply.

The redevelopment project, initiated in 2019 and completed in May 2024, was designed by Arquitectonica, with Hip Hing as the building contractor and WSP as the project manager and engineering team. The original AIA building, completed in 1969, played a significant role in the commercial development of Wan Chai and the expansion of the Central Business District.

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