AIA Group Limited posted record financial results for 2025, reporting double-digit growth across its key performance metrics while announcing a 10% dividend increase and a new US$1.7 billion share buyback program.
The pan-Asian life insurer reported value of new business (VONB) rose 15% to US$5,516 million for the year ended Dec. 31, 2025, according to results released Thursday. Operating profit after tax (OPAT) climbed 12% per share to US$7.136 million, while underlying free surplus generation (UFSG) increased 11% per share to US$6.765 million. Growth rates were measured on a constant exchange rate basis unless otherwise stated.
The company’s board recommended a final dividend of 144.08 Hong Kong cents per share, bringing the full-year total to 193.08 Hong Kong cents per share. The board also approved a new US$1.7 billion share buyback, comprising US$0.7 billion to meet its annual payout ratio target and an additional US$1.0 billion following a review of the group’s capital position.
“AIA delivered record results in 2025 with double-digit growth across our key financial metrics for new business value, earnings and cash generation,” said Lee Yuan Siong, group chief executive and president. “We have entered 2026 with strong business momentum and I have confidence in AIA’s ability to deliver sustained shareholder value over the long term.”
Hong Kong was the group’s strongest-performing market, with VONB surging 28% to US$2.256 million, driven by a strong demand from domestic customers and Mainland Chinese visitor customers. Thailand and Singapore also delivered solid performances, with VONB growing 13% and 14%, respectively.
In Singapore, the business reported a 23% jump in annualized new premiums to US$1.128 million, fuelled by demand for unit-linked long-term savings products from affluent and high-net-worth customers.
“AIA Singapore’s 2025 business performance represents another clear leap forward, defined by very strong business results and exceptional financial resilience,” Wong Sze Keed, CEO of AIA Singapore, stated.
AIA’s embedded value equity grew 14% per share to US$79.7 billion after returning US$4.7 billion to shareholders through dividends and buybacks. The group’s shareholder capital ratio stood at 221% at year-end, down from 236% a year earlier, with the decline attributed largely to capital returns.
The company said it remained confident of meeting or exceeding its OPAT per share compound annual growth rate target of 9% to 11% from 2023 to 2026. Total assets reached US$345 billion as of Dec. 31, 2025.
