AIA Malaysia Top Growth Insurer

AIA Bhd, which for the past three consecutive years posted a significant increase in value of new business (VONB), has yet recorded another commendable performance. It recorded an increase of 27% in VONB for fiscal year ended Nov 30, 2015 to RM673mil.

For this period, the company outperformed the industry  a 10.7% growth in annualised new premiums compared with 6% growth achieved by the combined life insurance and Takaful segments. The sterling performance was due to he insurer's focused multi- distribution strategy which saw each of its main business lines posting strong growth.

Its CEO Anusha Thavarajah said the insurer was the fastest life Takaful company in the country last year. The spectacular results according to her was also due to increased productivity among its agency force and higher recruitment of quality full time life planners.

In the second half of the financial year, she said the number of active new planners increased by 20%, while active agents selling AIA's Takaful solutions rose by 40%. Its partnership distribution  and corporate solutions channels also contributed  excellent growth in VONB of 33% and 20%  respectively.