AIA Group's first-half new business value rises 14%

AIA Group 1299 reported a 14% increase in its first-half value of new business (VONB) on Thursday, driven by strong demand for its insurance products in the key markets of China and Hong Kong.

The Hong Kong-based insurer said VONB, a key barometer that gauges expected profit from new premiums, was $2.84 billion on a constant exchange rate basis for the six months ended June 30, compared with $2.46 billion a year ago.