Pan-Asian life insurance group providing protection, savings, retirement and health-related insurance products.MoreShow less
Profile & Fundamentals
AIA Group (1299.HKEX) Profile & Fundamentals
Review AIA Group reported earnings, valuation, balance sheet and ownership, with source tables and separate AI assessments.
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Company and Market Context
AIA Group: Company Profile & Ownership
AIA Group Limited, together with its subsidiaries, provides life insurance based financial services in Hong Kong. The company offers life insurance, accident, and health insurance and savings plans; and employee benefits, credit life, and pension services to corporate clients. It is also involved in the distribution of investment and other financial services products. It sells its products through a network of agents and partners in Mainland China, Macau, Thailand, Singapore, Malaysia, Australia, Cambodia, Indonesia, Myanmar, New Zealand, the Philippines, South Korea, Sri Lanka, Taiwan, Brunei, Vietnam, and India. AIA Group Limited was founded in 1919 and is headquartered in Central, Hong Kong.
Company profile record
AIA Group Ltd
Common Stock · Financials · Life & Health Insurance
Company
- Company / asset
- AIA Group Ltd
- Security type
- Common Stock
- Sector
- Financials
- Industry
- Life & Health Insurance
- HQ
- 🇭🇰 Hong Kong
- Head office
- AIA Central, Central, Hong Kong
Leadership & scale
- Chief executive
- Mr. Yuan Siong Lee
- CEO year born
- 1966
- Full-time employees
- 0
- Fiscal year end
- December
Fundamentals snapshot
- Market Cap
- HKD 823.6B
- P/E
- 9.6x
- Revenue (Q2 26)
- USD 17.4B
- Profit (Q2 26)
- USD 4.3B
- Dividend Yield
- 2.5%
- Revenue (FY 25)
- USD 32.6B
- Shares in public float
- 10.3B
- Insider ownership
- 0.04%
Reporting & identifiers
- Symbol
- 1299.HKEX
- Listing
- 🇭🇰 Hong Kong | Dividend Tax: 0%
- Ticker Currency
- HKD
- Income Statement Currency
- USD
- Balance Sheet Currency
- USD
- Cash Flow Currency
- USD
- EPS Currency
- USD
- Contract Type
- SPOT
- ISIN
- HK0000069689
- Asset ID
- equity_8fab8577-24f4-54e6-82df-182b4296aeac
AIA Group: Ownership
Shares Outstanding
Latest: 10.4B | Max: 12.3B | Min: 10.4B
Latest reported ownership snapshot
Float Shares
98.65%
10.3B latest reported shares
Insider Ownership
0.04%
Latest reported insider stake
Short Float
--
Latest reported short interest / float
Source tablesView ownership tables
Shares Outstanding
Annual reported shares outstanding; up to 10 reporting dates.
Scroll the table to see every column.
| Reporting date | Shares outstanding |
|---|---|
| 2017-01-01 | 12,288,461,500 |
| 2018-01-01 | 12,060,000,000 |
| 2019-01-01 | 12,077,000,000 |
| 2020-01-01 | 12,086,000,000 |
| 2021-01-01 | 12,087,000,000 |
| 2022-01-01 | 11,835,000,000 |
| 2023-01-01 | 11,441,000,000 |
| 2024-01-01 | 10,919,000,000 |
| 2025-01-01 | 10,516,589,000 |
| 2026-01-01 | 10,439,000,000 |
Top Holders
Available reported ownership records.
No reported records are available in this preview.
AIA Group: Earnings, Profitability & Valuation
Latest Financials Filed On
Cash Flow: HKD→USD conversion reference as of . Historical periods use their own dated rates.
Cash Flow: CNY→USD conversion reference as of . Historical periods use their own dated rates.
Income Statement: HKD→USD conversion reference as of . Historical periods use their own dated rates.
Income Statement: CNY→USD conversion reference as of . Historical periods use their own dated rates.
Earnings & Revenue
Earnings and Revenue Trajectory
AI Review
AIA Group's financial results demonstrate powerful underlying operational momentum, dispelling fears of regional stagnation. In the first half of 2026, Value of New Business reached a record $3.21 billion, up 10% year-on-year, while operating profit after tax grew 13% per share to $4.16 billion under IFRS 17 accounting. Operating return on equity expanded to a record 17.5%. What headline earnings conceal is that life insurance results should be viewed through recurring operating profit and contractual service margins rather than volatile accounting net income, which surged 69% to $4.28 billion partly due to investment market swings. Underlying free surplus generation grew 10% per share to $3.94 billion, proving that premium volume converts reliably into distributable cash.
AIA Group's financial results demonstrate powerful underlying operational momentum, dispelling fears of regional stagnation. In the first half of 2026, Value of New Business reached a record $3.21 billion, up 10% year-on-year, while operating profit after tax grew 13% per share to $4.16 billion under IFRS 17 accounting. Operating return on equity expanded to a record 17.5%. What headline earnings conceal is that life insurance results should be viewed through recurring operating profit and contractual service margins rather than volatile accounting net income, which surged 69% to $4.28 billion partly due to investment market swings. Underlying free surplus generation grew 10% per share to $3.94 billion, proving that premium volume converts reliably into distributable cash.
Revenue, Net Income, and Free Cash Flow
Latest: USD 32.6B | Max: USD 50.9B | Min: USD -25.0B
Valuation
P/E Ratio (TTM)iPublished valuation snapshots use the earnings basis recorded with each observation. Source tables retain that basis.
Latest: 15x
Profitability & Margins
Margins and Operating Efficiency
AI Review
AIA's profitability profile demonstrates strong pricing power and disciplined underwriting across its 18 markets. In the first half of 2026, the group Value of New Business margin remained robust at 57.1%. Margin expansion was spearheaded by Hong Kong, where margins widened 6.2 percentage points to 72.0% as affluent clients prioritized comprehensive health, critical illness, and wealth protection policies. This high-margin product mix comfortably counterbalanced mainland China, where margins moderated to 54.1% as consumer preferences shifted toward lower-margin participating savings plans. Because AIA commands superior agency distribution rather than competing in commoditized bank price wars, its underlying underwriting profitability and operating return on embedded value of 18.0% remain structurally insulated from cyclical price competition.
AIA's profitability profile demonstrates strong pricing power and disciplined underwriting across its 18 markets. In the first half of 2026, the group Value of New Business margin remained robust at 57.1%. Margin expansion was spearheaded by Hong Kong, where margins widened 6.2 percentage points to 72.0% as affluent clients prioritized comprehensive health, critical illness, and wealth protection policies. This high-margin product mix comfortably counterbalanced mainland China, where margins moderated to 54.1% as consumer preferences shifted toward lower-margin participating savings plans. Because AIA commands superior agency distribution rather than competing in commoditized bank price wars, its underlying underwriting profitability and operating return on embedded value of 18.0% remain structurally insulated from cyclical price competition.
Profitability Margins
Latest: 100.0% | Max: >100.0% | Min: -17.8%
Latest Profitability Ratios as of 2025-12-31
Gross Margin
100.0%
Gross profit / revenue
Operating Margin
23.0%
Operating income / revenue
Net Margin
19.2%
Net income / revenue
FCF Margin
15.8%
Free cash flow / revenue
Source tablesView earnings, profitability & valuation tables
Revenue, Net Income, and Free Cash Flow
Annual reported results, using the source statement's recorded USD conversion. Up to 10 reporting periods; missing values are not estimated.
Scroll the table to see every column.
| Period end | Revenue (USD) | Net income (USD) | Free cash flow (USD) |
|---|---|---|---|
| 2016-12-31 | 3,999,568,345.32 | 599,136,690.65 | 187,050,359.71 |
| 2017-12-31 | 5,954,070,660.52 | 940,092,165.9 | 199,692,780.34 |
| 2018-12-31 | 4,800,134,568.17 | 424,373,917.3 | 271,019,700.58 |
| 2019-12-31 | 6,888,649,425.29 | 859,051,724.14 | 455,172,413.79 |
| 2020-12-31 | 7,787,289,433.38 | 884,992,343.03 | 322,052,067.38 |
| 2021-12-31 | 7,374,842,767.3 | 1,167,767,295.6 | 513,993,710.69 |
| 2022-12-31 | -24,958,000,000 | 3,331,000,000 | 9,481,000,000 |
| 2023-12-31 | 20,031,000,000 | 3,764,000,000 | 10,593,000,000 |
| 2024-12-31 | 2,619,691,119.69 | 879,794,079.79 | 389,446,589.45 |
| 2025-12-31 | 32,578,121,000 | 6,243,222,000 | 5,140,593,187 |
Published P/E Ratio
Published valuation snapshots retain each observation's earnings basis.
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| Period end | P/E (times earnings) | Earnings basis |
|---|---|---|
| 2025-12-31 | 15.2 | Trailing four quarters |
| 2024-12-31 | 23.8 | Trailing four quarters |
| 2022-12-31 | 39.5 | Annual net income |
| 2021-12-31 | 104.3 | Annual net income |
Profitability Margins
Matching annual reporting dates. Values are percentages.
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| Period end | Gross margin (%) | Operating margin (%) | Net margin (%) | Free cash flow margin (%) |
|---|---|---|---|---|
| 2016-12-31 | 100 | 16.94 | 14.98 | 4.68 |
| 2017-12-31 | 100 | 20.82 | 15.79 | 3.35 |
| 2018-12-31 | 100 | 11.46 | 8.84 | 5.65 |
| 2019-12-31 | 100 | 17.66 | 12.47 | 6.61 |
| 2020-12-31 | 100 | 94.7 | 11.36 | 4.14 |
| 2021-12-31 | 98.83 | 18.82 | 15.83 | 6.97 |
| 2022-12-31 | Not reported | Not reported | Not reported | Not reported |
| 2023-12-31 | 98.63 | 25.21 | 18.79 | 52.88 |
| 2024-12-31 | 137.66 | 110.38 | 33.58 | 14.87 |
| 2025-12-31 | 100 | 22.97 | 19.16 | 15.78 |
Public data excerpt created by iPulse AI and published by Future Edge Group FZE. Snapshot retrieved 2026-09-06.
Use is subject to the iPulse AI Terms of Service and applicable source rights. Missing inputs are not estimated. Full access includes the remaining records, research and interactive tools.
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