Business
AIA announces ‘very strong’ financial results for 2021 with US$ 10 billion share buyback programme
The Board of AIA Group Limited has announced the Group’s financial results for the year ended 31 December 2021.
Lee Yuan Siong, AIA’s Group Chief Executive and President, issuing a press statement said: “AIA has delivered very strong results in 2021 with VONB up by 18 per cent and growth in all of ourkey financial metrics including a new high for EV Equity of US$75.0 billion. On a like-for-like basis,VONB for the Group outside Hong Kong exceeded pre-pandemic levels and all of our reportable segments grew VONB year-on-year.”
“Our financial position continues to be very strong with pro forma free surplus of US$24.8 billion. The Board has recommended a final dividend of 108.00 Hong Kong cents per share which increases the total dividend by 8 per cent. This follows AIA’s established prudent, sustainable and progressive dividend policy, allowing for future growth opportunities and the financial flexibility of the Group.”
“As a result of our very strong financial position, the Board has approved a return of capital to shareholders of up to US$10.0billion to be conducted through a share buy-back programme over the next three years. The share buy-back represents capital accumulated over time that is surplus to our needs, allowing for capital market stress conditions and retention of capital for strategic and financial flexibility. This capital return programme enhances shareholder returns while retaining the financial strength that allows AIA to continue investing in the significant growth opportunities available to us with confidence.”
“Our focus on profitable growth continued to deliver attractive returns and, since our IPO, our new business investment of US$16.2 billion has increased the value of future distributable earnings for shareholders by US$44.5 billion. In 2021, we also committed US$2.4 billion to additional growth opportunities, further increasing our exposure to the highly-attractive Chinese life insurance market through our investment in China Post Life Insurance Co., Ltd. (China Post Life) and extending our distribution by partnering with The Bank of East Asia, Limited (BEA). In addition, we are investing up to US$1.5 billion by 2023 as we transform our use of technology, digital and analytics across the Group to support our future growth ambitions.”
“AIA China was again the largest contributor to the Group’s VONB and delivered a 10 per cent increase on a like-for-like basis, driven by a very strong double-digit increase in agent productivity in 2021. While active agent numbers declined slightly in the first half, our initiatives successfully supported a significant increase in recruitment and returned our differentiated agency to growth in the second half. The Chinese life insurance market remains significantly underpenetrated, offering tremendous growth potential for AIA. We see significant additional opportunities to help customers save for their long-term financial needs including retirement. Our new suite of long-term savings propositions are helping us to attract new customers and to deepen our share of wallet with existing customers.”
The Delegation of German Industry and Commerce in Sri Lanka (AHK Sri Lanka) proudly facilitated the first-ever Sri Lankan delegation’s participation at Drupa 2024, the world’s largest trade fair for the printing industry and technology. Held after an eight-year hiatus, Drupa 2024 was a landmark event, marking significant advancements and opportunities in the global printing industry.
AHK Sri Lanka played a pivotal role in organising and supporting the delegation, which comprised 17 members from the Sri Lanka Association for Printers (SLAP), representing eight companies from the commercial, newspaper, stationery printing, and packaging industries. This pioneering effort by AHK Sri Lanka not only showcased the diverse capabilities of Sri Lanka’s printing sector but also facilitated vital bilateral discussions with key stakeholders from the German printing industry.
Business
Unveiling Ayugiri: Browns Hotels & Resorts sets the stage for a new era in luxury Ayurveda Wellness
In a captivating reimagining of luxury wellness tourism, Browns Hotels & Resorts proudly unveiled the exquisite Ayugiri Ayurveda Wellness Resort Sigiriya. This momentous occasion, celebrated amidst a vibrant and serene grand opening on the 6th of June, heralds a new chapter in the Ayurveda wellness tourism landscape in Sri Lanka. Nestled amidst 54 acres of unspoiled natural splendour, Ayugiri features 22 exclusive suites and stands out as the only luxury Ayurveda wellness resort in the country offering plunge pools in every room, rendering it truly one-of-a-kind.
The grand opening of Ayugiri Ayurveda Wellness Resort was an enchanting event, where guests were captivated by the melodies of flutists and violinists resonating through Sigiriya’s lush landscapes. As traditional drummers and dancers infused the air with vibrant energy, Browns Hotels & Resorts’ CEO, Eksath Wijeratne, Kotaro Katsuki, Acting Ambassador for the Embassy of Japan and General Manager, Buwaneka Bandara, unveiled the resort’s new logo, marking a significant moment witnessed by distinguished guests from the French Embassy, Ayurveda and wellness enthusiasts along with officials from the Sigiriya area, LOLC Holdings and Browns Group.
“Our strategic expansion into wellness tourism with Ayugiri Ayurveda Wellness Resort Sigiriya symbolises a significant milestone for Browns Hotels & Resorts. Wellness tourism has consistently outperformed the overall tourism industry for over a decade, reflecting a growing global interest in travel that goes beyond leisure to offer rejuvenation and holistic well-being. By integrating the timeless wisdom of Ayurveda with modern luxury, we aim to set a new standard in luxury wellness tourism in Sri Lanka. Whether your goal is prevention, healing, or a deeper connection to inner harmony, Ayugiri offers a sanctuary for holistic well-being” stated Eksath Wijeratne.
Ayugiri encapsulates the essence of life, inspired by the lotus flower held by the graceful queens of the infamous Sigiriya frescoes. Just as the lotus emerges from the murky depths, untainted and serene,
Ayugiri invites guests on a journey of purity and rejuvenation, harmonised with a balance of mind, body and spirit, the essence of nature, echoes of culture and the wisdom of ancient Ayurvedic healing.
HNB General Insurance, one of Sri Lanka’s leading general insurance providers, has been honored as the Best General Bancassurance Provider in Sri Lanka 2024 by the prestigious Global Banking and Finance Review – UK.
The esteemed accolade underscores HNB General Insurance’s unwavering commitment to excellence and its outstanding performance in the field of bancassurance. Through dedication and hard work, the HNB General Insurance team has continuously endeavored to deliver innovative insurance solutions, cultivate strong relationships with banking partners, and provide unparalleled service to customers nationwide. This recognition is a testament to the team’s dedication and relentless pursuit of excellence in the bancassurance business.
“We are honored to receive this prestigious award, which reflects our team’s tireless efforts and dedication to delivering value-added insurance solutions and exceptional service through our bancassurance partnerships,” said Sithumina Jayasundara, CEO of HNB General Insurance. “This recognition reaffirms our position as a trusted insurance provider in Sri Lanka and motivates us to continue striving for excellence in serving our customers and communities.”
US sports envoys to Lanka to champion youth development
Rahuman questions sudden cancellation of leave of CEB employees
