Insurer's new business sees strong growth

Insurance giant AIA Group Ltd announced strong results for the first quarter on Friday, with the value of new business growing 18 percent compared with a year ago to reach a new high of US$1.16 billion.

The pan-Asian, century-old life insurer attributed the growth to its continued focus on fast growing markets such as China, its efforts to better meet customer requirements for protection and long-term savings as well as its strategic transformation to “becoming a lifelong partner for clients.”

In January, AIA unveiled a health management platform to integrate medical resources. By connecting with over 400 medical institutions at home and abroad, the network allows  direct payment for clients seeking hospital treatment.

The move is part of the company’s five-year development plan announced in last year to offer more diversified insurance products and services for policy-holders.

From prevention, diagnosis and treatment to rehabilitation, the insurer aims to safeguard the whole life of their customers, said Zhang Xiaoyu, chief executive officer of AIA’s China business.

Zhang said the company would be spending more this year to attract talent and adopt advanced technologies to empower their business and create customer value.