Hong Kong, 15 October 2021– AIA Group Limited (“AIA” or the “Company”; stock code: 1299) is pleased to announce that AIA China has received approval from the China Banking and Insurance Regulatory Commission (CBIRC) Hubei Bureau to begin operations in Wuhan, Hubei province.

Lee Yuan Siong, AIA Group Chief Executive and President, said, “We are delighted to receive approval to launch our newest branch in Hubei as we move forward with our geographical expansion in Mainland China. Our scalable, highly-digitalised model enables us to efficiently replicate our differentiated Premier Agency in new geographies. We are also grateful for the trust and confidence the CBIRC has placed in us to make a positive contribution to the healthy development of the nation’s life insurance industry. I am confident that our differentiated products and services will generate high-quality, sustainable long-term growth and help even more families live Healthier, Longer, Better Lives.”

Fisher Zhang, AIA China Chief Executive Officer, said, “I am pleased to open our new office in the capital city of Hubei, Wuhan. Hubei province has a population of nearly 60 million and is one of the key economic growth engines for Mainland China. Wuhan is also a centre of excellence for higher education, providing a highly-attractive talent pool to enable AIA to recruit, train and develop our professional insurance agents and employees. We look forward to providing our long-term protection products and professional advice to the people of Hubei.”

AIA traces its roots back to Shanghai in 1919 and is the first foreign company with a wholly-owned life insurance subsidiary in Mainland China. It currently has operations in Shanghai, Beijing, Guangdong, Shenzhen, Jiangsu, Tianjin, Hebei, and Sichuan.

 

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AIA Group Limited and its subsidiaries (collectively “AIA” or the “Group”) comprise the largest independent publicly listed pan-Asian life insurance group. It has a presence in 18 markets – wholly-owned branches and subsidiaries in Mainland China, Hong Kong SAR⁽¹⁾, Thailand, Singapore, Malaysia, Australia, Cambodia, Indonesia, Myanmar, New Zealand, the Philippines, South Korea, Sri Lanka, Taiwan (China), Vietnam, Brunei and Macau SAR⁽²⁾, and a 49 per cent joint venture in India.

The business that is now AIA was first established in Shanghai more than a century ago in 1919. It is a market leader in Asia (ex-Japan) based on life insurance premiums and holds leading positions across the majority of its markets. It had total assets of US$330 billion as of 30 June 2021.

AIA meets the long-term savings and protection needs of individuals by offering a range of products and services including life insurance, accident and health insurance and savings plans. The Group also provides employee benefits, credit life and pension services to corporate clients. Through an extensive network of agents, partners and employees across Asia, AIA serves the holders of more than 39 million individual policies and over 16 million participating members of group insurance schemes.

AIA Group Limited is listed on the Main Board of The Stock Exchange of Hong Kong Limited under the stock code “1299” with American Depositary Receipts (Level 1) traded on the over-the-counter market (ticker symbol: “AAGIY”).

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