AIA Group
AIA Group is a leading life insurance company based in Hong Kong. It is the largest independent publicly listed pan-Asian life insurance group, with a presence in 18 markets across the Asia-Pacific region. The company offers a range of products and services including life insurance, accident and health insurance, savings plans, employee benefits, credit insurance, and pension services to both individuals and businesses.
History[edit | edit source]
AIA Group was established in 1919 in Shanghai by American entrepreneur Cornelius Vander Starr. The company was originally known as American Asiatic Underwriters (AAU), which was later renamed American International Underwriters (AIU). In 1931, the company opened its first branch office in Hong Kong.
In 2009, AIA Group was separated from its parent company, American International Group (AIG), following the global financial crisis. AIA Group was listed on the Hong Kong Stock Exchange in October 2010, marking one of the largest initial public offerings (IPOs) in Hong Kong's history.
Operations[edit | edit source]
AIA Group operates through a network of agents, partners, and its own branch offices. The company's operations are divided into several segments: Life Insurance, Accident and Health Insurance, Savings Plans, Employee Benefits, Credit Insurance, and Pension Services.
The Life Insurance segment offers a variety of life insurance products, including term life, whole life, and endowment policies. The Accident and Health Insurance segment provides coverage for medical expenses, disability, and accidental death and dismemberment. The Savings Plans segment offers a range of savings and investment-linked insurance products. The Employee Benefits segment provides group life and health insurance, as well as retirement planning services. The Credit Insurance segment offers protection against the risk of non-payment of trade receivables. The Pension Services segment provides retirement planning and pension administration services.
Financial Performance[edit | edit source]
AIA Group has consistently delivered strong financial performance. The company's total revenue and operating profit have grown steadily over the years, driven by strong growth in its core life insurance business and robust performance in its other business segments.
See Also[edit | edit source]
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Contributors: Prab R. Tumpati, MD
