友邦保险2019年年报PPT（英文）-2020.3.12-85页_7mb

报告摘要

2019 Annual Results Summary

Disclaimer

This document is for internal use only at the financial results presentation.
No warranties or guarantees are made regarding the accuracy or completeness of the information.
Forward-looking statements are subject to risks and uncertainties.
The document does not constitute an offer to sell securities and is not to be used for any contract or commitment.

Agenda

Key Business Highlights
Financial Results
Market Reviews
Strategic Priorities & Outlook
Q&A

Key Business Highlights

2019 Delivered Growth in Challenging Environment
- Value of New Business: $4,154m (+6%)
- Operating Profit After Tax: $5,741m (+9%)
- Underlying Free Surplus Generation: $5,501m (+13%)
- EV Equity: $63.9b (+12%)
- Operating ROE: 14.4%
- Total Dividend Per Share: 126.60 HK cents (+11%)
16% VONB Growth Outside Hong Kong
- Mainland China: $1,167m (+27%)
- Thailand: $494m (+6%)
- Singapore: $352m
- Malaysia: $258m (+7%)
- Other Markets: $535m (+27%)
Premier Agency Strategy
- Agency Contribution to VONB: 74%
- Agency VONB 3Y CAGR: +18%
- New Business Digital Submission by Agency: >95%
Next-Gen Partnerships
- Partnership Contribution to VONB: 26%
- Bancassurance VONB 3Y CAGR: +17%
- Partnerships activated: Bangkok Bank, VPBank, ASB, CommonwealthBank

Financial Results

2019 VONB by Market Segment
- Hong Kong: $1,621m (-5%)
- Mainland China: $1,167m (+27%)
- Thailand: $494m (+6%)
- Singapore: $352m
- Malaysia: $258m (+7%)
- Other Markets: $535m (+27%)
Financial Performance
- EV Operating Profit: $8.7b
- EV Equity: $63.9b
- Operating ROEV: 15.9%
- Operating ROE: 14.4%
- Total Dividend Per Share: 126.60 HK cents (+11%)
Key Financial Metrics
- Underlying Free Surplus Generation: $5,501m (+13%)
- AIA Co. HKIO Solvency Ratio: 362% (down from 421% in 2018)
- Final Dividend Per Share: 93.30 HK cents
- Total Dividend Per Share: 126.60 HK cents (+11%)

Market Reviews

Hong Kong

Domestic VONB Growth: 19% in 1H, 5% in 2H
Premier Agency Growth: Continued growth in quality recruits and active agents
Customer Support: Free enhanced protection benefits, waived waiting periods, and support for medical workers
Agency Support: Enhanced digital engagement, relaxed performance requirements, and online sales facilitation

Singapore

VONB Growth: $352m
Premier Agency: #1 MDRT, focus on quality recruitment
Partnerships: Strong growth from Citibank, digital direct channel launched
Products: Bespoke wealth solutions, integrated digital customer app

Malaysia

VONB Growth: $258m (+7%)
Premier Agency: Double-digit growth, 50% from quality recruitment platform
Partnerships: Strong growth from Public Bank, offset by lower direct marketing sales
Products: Takaful segment growth, mental health benefits, regional medix partnership

Thailand

VONB Growth: $1,064m (+3%)
Premier Agency: Strong growth from Financial Advisers
Partnerships: Strong growth from Bangkok Bank, insurance specialists trained
Products: Protection and unit-linked products, e-payment options

Vietnam, Indonesia, Philippines

VONB Growth: Strong across distribution channels, bancassurance growth, and product mix shifts
Partnerships: Activated with VPBank, BCA, BPI, and medix
Products: Integrated digital platforms, single disease protection products

Mainland China

VONB Growth: $1,061m (+28%)
Premier Agency Strategy: Differentiated approach, 95% digital submissions
New Footprint: Sales and service centers opened in Tianjin and Shijiazhuang, Hebei
Application for Wholly-Owned Subsidiary: Submitted for conversion of AIA China

India

JV with Tata Sons: Since 2001, 49% shareholding since 2016
Strategic Multi-distribution Model: Strong performance, differentiated strategy
Partnerships: With IndusInd Bank, HDFC Bank, Central Bank of India
Products: Medical network, wellness program, and single disease protection products

Strategic Priorities & Outlook

Consistent Execution Driving Growth, Earnings, and Cash
Sustained Value Creation at Attractive Returns
Unprecedented Long-term Growth Opportunities
- Asia-Pacific Demographics: 4.7 billion people by 2025, rapid urbanization, and expanding middle class
- Emerging Opportunities: Mainland China expansion, ASEAN growth, India potential
Focus on Execution
Attractive Returns at Increased Scale
Emerging Opportunities for our Next Century
- Mainland China Expansion: Wholly-owned life insurance subsidiary
- Emerging ASEAN: Vietnam, Indonesia, Philippines
- India Potential: Pure retail protection leadership, multi-distribution model
- Premier Agency Strategy: Disciplined execution, focus on quality and productivity

Financial Discipline and Consistent Execution

Growth: Resilient, diversified, and increasing ROEV
Earnings: IFRS operating profit growth from all segments, balanced earnings sources
Capital & Dividends: Resilient capital position, self-financed growth, prudent and sustainable dividends

Strategic Multi-distribution Model

Balanced Product Mix: Across protection, unit-linked, and other segments
Key Partnerships: With medix, WeDoctor, and others
Digital Enablement: Over 60% auto-underwritten, 80% customer interactions digital

AIA Wellness and Medical Network

AIA Vitality: >1.7 million members (+42% YoY)
AIA Medical Network: >650 healthcare providers
WeDoctor Partnership: >200 million registered customers, 3,200+ hospitals, 400,000+ doctors
Integrated Single Disease Products: Breast cancer, Childhood leukaemia, Chronic Disease Management (Hypertension, Diabetes)

Summary of Key Metrics

Total Dividend Per Share: 126.60 HK cents (+11%)
VONB 3Y CAGR:
- Premier Agency: +18%
- Bancassurance: +17%
Active Agents since IPO: 2.1x
VONB per Active Agent since IPO: 2.7x
EV Equity Growth: +12% to $63.9b
Operating ROE: 14.4%
Underlying Free Surplus Generation: $5,501m (+13%)

Conclusion

AIA Group Limited delivered strong and broad-based growth in 2019, despite a challenging environment. The company's focus on quality recruitment, digital enablement, and strategic partnerships contributed significantly to its performance. The Group is well-positioned for long-term growth with a disciplined approach to financial management and a clear vision for the future.

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