AIA New Zealand has released its 2024 Sustainability Report, providing an overview of the company’s efforts to integrate sustainability into its insurance operations.
The report, titled “Sustaining Healthier, Longer Better Lives,” presents updates on the insurer’s activities across five core ESG pillars:
One of the report’s notable initiatives is the refurbishment of AIA NZ’s Auckland head office, which incorporated sustainable building methods.
During this process, more than 235,000 kilograms of materials were diverted from landfill, with a significant portion donated to local charities and educational institutions.
The company also reported that it paid out 92% of claims in 2024, totalling $829.6 million.
Additionally, AIA NZ introduced its first Claims Compass, focusing on cancer-related claims, and ran a campaign with AIA Vitality and MoleMap that led to the identification of 111 malignant lesions.
The insurer also published its inaugural climate statements and received recognition from the Financial Services Council for its sustainability practices.
AIA NZ’s sustainability agenda is consistent with the broader objectives of AIA Group, which has set a target to achieve net-zero greenhouse gas emissions by 2050.
The group’s adoption of the Science Based Targets initiative is guiding the company’s approach to emissions reduction, with local actions in New Zealand informed by this framework.
AIA NZ CEO Nick Stanhope commented on the company’s progress, stating: “As the largest life insurance company in Aotearoa New Zealand, we recognise the weight of our brand promise to help New Zealanders live Healthier, Longer, Better Lives. We’re proud of the strides we’ve made on our journey to net zero, but we also know there’s more work ahead to meet the ambitious goals we’ve set across our ESG pillars.”
In 2024, AIA NZ provided insurance coverage to over 797,000 individuals in New Zealand.
The year also marked five years since the launch of AIA Vitality in the country, with the program now supporting more than 75,000 members.
Since 2019, AIA Vitality members in New Zealand have collectively walked over 100 billion steps, and regular engagement with health and well-being assessments continues.
“We constantly seek to operate to the highest standards of business practices whilst delivering long-term sustainable value for our customers, shareholders, employees, partners, and communities. While there is more to be done, we are proud of what we were able to achieve in 2024,” Stanhope said.
The publication of the sustainability report coincides with AIA Group Ltd’s announcement of its first-quarter 2025 (Q1 2025) results.
The group’s shares rose by up to 6% in Hong Kong following the release of results showing US$1.5 billion in value of new business (VONB), a 13% increase from the same period last year at constant exchange rates.
Annualised new premiums reached US$2.6 billion, an increase of 7%.
