AIA Group

Stock performance

History

AIA traces its origins to 1919, when American entrepreneur Cornelius Vander Starr opened an insurance agency in Shanghai, the business that later grew into the American International Group (AIG). After AIG's near-collapse in the 2008 financial crisis forced it to sell assets to repay its US government rescue, AIG floated AIA in Hong Kong in 2010, in what was then one of the largest IPOs in history.

Business model

AIA sells life insurance, health and critical-illness protection, and savings products across about 18 markets in Asia-Pacific, relying mainly on a large, highly trained network of tied agents along with bank partnerships. Its strategy emphasizes protection products with high margins and long-term recurring premiums, and since 2020 it has been expanding its wholly owned business into new provinces of mainland China.

Market position

AIA is the largest independent publicly listed pan-Asian life insurance group, with leading positions in Hong Kong, Thailand, Singapore, Malaysia, and other markets, competing with Prudential plc, Manulife, and large local insurers such as Ping An and China Life.

Country impact

AIA is one of the heaviest weights in the Hang Seng Index and one of Hong Kong's most valuable homegrown companies. Its business also benefits from mainland Chinese visitors buying Hong Kong insurance policies, a flow that collapsed during the pandemic and then rebounded strongly, making it a barometer of cross-border financial ties.