AIA New Zealand has again been awarded Advanced GenderTick status, marking the second consecutive year it has achieved this recognition.
This certification highlights the insurer’s commitment to gender equity and fostering a workplace culture of inclusion.
Originally earning the GenderTick in 2020 as the first insurer in New Zealand to do so, AIA NZ has since continued to build on its initiatives to promote diversity.
The GenderTick certification, established in 2018, assesses companies on five key criteria:
Achieving the advanced status signals progress across these areas, with notable achievements such as launching a menopause toolkit and implementing a policy supporting gender affirmation.
AIA NZ chief people officer Brynlea Hunter-Morpeth said being recognised with the Advanced GenderTick is a testament to the company’s commitment to creating an inclusive and supportive workplace where employees can bring their whole and unique selves to work.
“I’m proud of our ongoing mahi in this space, which helps make New Zealand a better place to work for everyone,” she said.
Elizabeth Maddison, Gender at Work manager, praised AIA NZ’s leadership and transparency in addressing gender equity challenges.
“AIA NZ continues to be a courageous leader and champion for gender equity, being the first insurer to earn the GenderTick and openly sharing their journey towards creating a menopause-inclusive workplace,” she said.
AIA NZ has expressed plans to continue refining its diversity strategies and sharing lessons learned with other organisations.
Encouraging wider adoption of inclusive practices, Hunter-Morpeth added that the company’s approach reflects a broader philosophy.
“Our dedication to diversity and inclusion is fundamental to our success and reflects our philosophy of ‘doing the right thing, in the right way, with the right people, and the right results will come,’” she said.
See LinkedIn post here.
The recognition follows the release of AIA Group Limited’s financial results for the first half of 2024, showing growth across several performance indicators, including new business value (VONB), embedded value (EV), and shareholder returns.
For the period ending June 30, AIA reported a 25% increase in VONB, reaching US$2.455 billion, alongside a 17% rise in annualised new premiums (ANP) to US$4.546 billion. The VONB margin improved by 3.3 percentage points, reaching 53.9%.
Embedded value operating profit reached US$5.35 billion, a 29% increase per share, with the operating return on EV climbing to 16.5%. After returning capital to shareholders, AIA’s EV equity rose to US$70.9 billion, reflecting a 5% growth per share.
Operating profit after tax (OPAT) also rose by 10% per share, reaching US$3.386 billion. Meanwhile, the operating return on equity improved from 13.5% in 2023 to 15.3%. The company maintained its target for a compound annual growth rate (CAGR) of 9% to 11% in OPAT per share for the 2023–2026 period.
Free surplus generation grew by 10% per share, amounting to US$3.391 billion. Net free surplus, which accounts for investments in new business, was US$2.243 billion. AIA’s shareholder capital ratio remained robust at 242%.
