aia insurance lanka plc annual report 2019

Annual Report 2016. Our business is rooted in regional franchises, and we take pride in PARTNERING FOR GOOD 12 March 2020. View. There is no better feeling in life than being healthy. AIA INSURANCE LANKA PLC AIA INSURANCE LANKA PLC - ANNUAL REPORT 2018 100 YEARS OF AIA. Login or register to access and manage all your The business that is now AIA was first established in Shanghai almost a century ago in 1919. “Against the backdrop of the economic challenges during the year, AIA Sri Lanka remained focused on executing our strategy and launched several key initiatives including the launch of a full-time professional agency outfit of Premier Agency Circle (PAC). AIA recognises everyone has different needs at different stages of life. Saturday: 9:00 a.m. – 1:00 p.m.; Our partnership distribution business reported slightly lower VONB as strong VONB growth in the bancassurance channel was offset by a significant decline from the retail IFA channel in Hong Kong in the second half. • Investment income dropped by 3 per cent, due to impact on government bond values from the abolishing of national Withholding Tax credits (NTC) effective from 1st April 2018 with the enactment of the Inland Revenue Act 2017. The further growth in the membership of our wellness programmes to 1.7 million reflects our commitment to helping millions of people live Healthier, Longer, Better Lives. and The Group also provides employee benefits, credit life and pension services to corporate clients. Annual Report 2015. Through an extensive network of agents, partners and employees across Asia-Pacific, AIA serves the holders of more than 36 million individual policies and over 16 million participating members of group insurance schemes. The Board of Directors of AIA Insurance Lanka PLC (“AIA Sri Lanka” or the “Company”) is pleased to announce the financial results of the Company and its subsidiary (collectively, the “Group”) for the year ended 31 December 2018. AIA Group Limited and its subsidiaries (collectively “AIA” or the “Group”) comprise the largest independent publicly listed pan-Asian life insurance group. Change is shown on a year-on-year basis compared with the corresponding twelve-month period ended 31 December 2018, unless otherwise stated. AIA Group Limited and its subsidiaries (collectively “AIA” or the “Group”) comprise the largest independent publicly listed pan-Asian life insurance group. We commenced business in Sri Lanka through the acquisition of Aviva NDB Insurance. Chairman’s statement Aviva plc Annual report and accounts 2019 02 Strategic report Governance IFRS financial statements Other information Chairman’s statement 2019 was a year of change for Aviva. We have seen a significant disruption in the Group’s new business sales in the first quarter from reduced face-to-face interactions and have taken a number of proactive measures including a rapid acceleration of digital platforms to further support agency recruitment, training and sales activities. In the context of our reportable market segments, Hong Kong refers to operations in Hong Kong Special Administrative Region and Macau Special Administrative Region; Singapore refers to operations in Singapore and Brunei; and Other Markets refers to operations in Australia (including New Zealand), Cambodia, India, Indonesia, Myanmar, the Philippines, South Korea, Sri Lanka, Taiwan (China) and Vietnam. Sunday & Public Holidays: Closed, HONG KONG, You can find more It is a market leader in the Asia-Pacific region (ex-Japan) based on life insurance premiums and holds leading positions across the majority of its markets. The proposed delisting of the Company’s shares will be based on a revised and You can find more details by going to one of the sections under this page such as ex-date, dividend and payment date. Universal Life and Participating Products, Copyright © 2020, AIA Group Limited and its subsidiaries. Hong Kong SAR refers to Hong Kong Special Administrative Region. GENERAL INSURANCE INDUSTRY As for Sri Lanka’s General Insurance industry, the sector recorded a moderate year-on-year growth of 5.5% in 2019 in the backdrop of the adverse impact of the Easter Sunday attacks on the overall economy. How can I help you today ? Privacy Statement Annual Report 2019. The profit after tax for 2018 includes the transfer of life business surplus for the year, being LKR 1,157 million and the creation of a deferred tax asset of LKR 2,537 million arising from the tax regime change for life insurers with the enactment of the Inland Revenue Act 2017, which introduced a surplus based tax basis replacing the previous I-E tax basis. 16 per cent growth in VONB excluding Hong Kong. A William Lisle, Chairman of AIA Sri Lanka, said: “I am pleased to see AIA Sri Lanka’s resilience in the face of adversity and appreciate the initiatives launched in 2018 and also the progress made. AIA Insurance Lanka PLC on October 3, 2019 announced that the Colombo Stock Exchange (CSE) by its letter dated 02nd October 2019 has confirmed that the Company is delisted from the Official List of the CSE effective 02nd October 2019. Login or register to access and manage all your policies, claims and more. policies, claims and more. We strive to assist you for all your inquiries with high touch customer service. We continued to enhance our customer offering with market leading and needs based new pension and health solutions with the introduction of SmartPension and HealthProtector. Our people are the founders of our success, Activities that connect with and contribute to the community, Recognising the achievement of our agency force, Find out more about our network of partners, Find the right insurance at your fingertips. ... Reports and Financial Statements for the Financial Year Ended 31 December 2019 - AIA Public Takaful Bhd. information on the types of cookies we collect, what we use these for, and how to manage your cookie Users can opt to see 4 periods of either annual or quarterly information. You can find more information on the types of cookies we collect, what we use these for, and how to manage your cookie settings in our going further to understand and meet customer needs. An Extraordinary General Meeting (EGM) on this matter will be held on March 27, 2019. It is a remarkable history that comes to life with a wealth of customer insights gained along the brand journey. PDF pdf: Environmental, Social and Governance Report 2019. 2016. View. Janashakthi General Insurance Limited acquires a 100% stake in AIA General Insurance Lanka Limited in October 2015. Cookie Policy 251A-301, Avenida Comercial de Macau, Macau, Mon-Fri: 8:45am – 5:15pm (Open through lunch) Sat, Sun & Public Holidays Closed. ANNUAL REPORT 2019 – LEADING WITH PURPOSE . “The Board has recommended a 10 per cent increase in final dividend for 2019 to 93.30 Hong Kong cents per share, following AIA’s established prudent, sustainable and progressive dividend policy allowing for future growth opportunities and the financial flexibility of the Group within the context of the immediate macroeconomic and capital markets environment. Find out how we are helping shape the future of insurance. • Consolidated revenue grew by 6 per cent to LKR 18,232 million during the financial year 2018, from the figure reported for financial year 2017, driven by the growth in Gross Written Premium. AIA Insurance Lanka PLC (AIA Insurance Lanka) announced that it intends to delist the Company’s shares from the official list of the Colombo Stock Exchange (CSE), subject to shareholder and regulatory approval. • Consolidated profit after tax decreased from LKR 13,442 reported in 2017 to LKR 4,111 million in 2018. The business that is now AIA was first established in Shanghai a century ago in 1919. Life after a career can be a scary thought. Others zip: Prudential Tax Strategy 2019. Welcome to Sri Lanka Insurance Life. Annual Reports 2010 - 2018. The Board of Directors of AIA Insurance Lanka PLC (“AIA Sri Lanka” or the “Company”) is pleased to announce the financial results of the Company and its subsidiary (collectively, the “Group”) for the year ended 31 December 2018. VONB grew strongly at 16 per cent excluding Hong Kong. View. AIA Tower, 92, Dharmapala Mawatha Colombo 07 Sri Lanka. We strive to assist you for all your inquiries with high touch customer service. The Company is engaged in life insurance business. and Headline VONB growth of 6 per cent was the result of very strong growth in the first half of the year set against a second half significantly affected by social unrest in Hong Kong. It is a science-backed wellness programme that helps you make positive changes to your health by rewarding you for living a more active lifestyle. Login or register to access and manage all your policies, claims and more. Hong Kong Island AIA Wealth Select Centre 12/F, AIA Tower, 183 Electric Road, North Point, Hong Kong, Kowloon Suite 1313, 13/F, AIA Kowloon Tower, Landmark East, 100 How Ming Street, Kwun Tong, Kowloon, Hong Kong, Mon-Fri: 8:45am – 6pm (Open through lunch) Sat, Sun & Public Holidays Closed, 1903, AIA Tower, Nos. Annual Report 2017. VONB includes pension business. Environmental Social Governance. Ng Keng Hooi, AIA’s Group Chief Executive and President, said: “AIA has delivered a resilient performance in 2019, despite a challenging operating environment, with continued growth in all our main financial metrics. View. AIA’s financial information in this Financial Summary is based on the audited consolidated financial statements and supplementary embedded value information for the year ended 31 December 2019, unless otherwise stated. “The strong domestic drivers of demand and major demographic trends in Asia provide powerful structural support for the long-term prospects of AIA’s business. Pankaj Banerjee, Chief Executive Officer of AIA Sri Lanka, said: “2018 was characterised by continued transformation at AIA Sri Lanka aimed at laying a strong foundation for sustained growth, driven by our brand promise of helping customers live healthier, longer, better lives. The Company recorded an after-tax profit of LKR 4,116 million during 2018 compared to the restated result of Rs. The overall boundary of this Annual Report comprises Sri Lanka Insurance Corporation and its subsidiaries, identified as “SLIC” or “Company” individually and “Group” collectively. AIA Group Limited announced its 2020 Interim Results for the year on 20 August 2020 (Thursday). These are all testimony of AIA Group’s firm commitment to the Sri Lankan business where we continue to invest in transformational initiatives, and look forward to achieving further success in the years to come.”. Annual Report 2012. Customers could book service via our mobile application AIA Connect (Profile > Contact AIA > Customer Service Centre Enquiry Appointment Service) or book it via our corporate website (. Cookie Policy AIA Insurance Lanka PLC on October 3, 2019 announced that the Colombo Stock Exchange (CSE) by its letter dated 02nd October 2019 has confirmed that the Company is delisted from the Official List of the CSE effective 02nd October 2019. The directors present the Annual Report for the year ended 31 December 2019, which includes the strategic report, corporate governance, and audited accounts for this year. View. 100 Billion milestone with a premium 12,739 million. This website uses cookies for the purpose of enhancing your user experience. Copyright © 2016, AIA Group Limited and its subsidiaries. Look for a role that suits you. This Annual Report for Sri Lanka Insurance Corporation covers the 12-month period from 1 January 2018 to 31 December 2018. AIA completed the full integration of the businesses of AIA and ING Malaysia. Following the announcement late last year of the further opening of Mainland China to foreign life insurers, we submitted an application for regulatory approval to convert our Shanghai branch into a subsidiary. It had total assets of US$284 billion as of 31 December 2019. ±« «Â ±«Â±¤ sÈ «È ¾ ª «s« s¤ ÂÈsÈ ª «È ëé 8s¾ êèéñ AIA Insurance Lanka PLC and its subsidiary For almost a century, AIA has served the ever-changing needs of millions of people all across the Asia-Pacific region. It has a presence in 18 markets in Asia-Pacific – wholly-owned branches and subsidiaries in Hong Kong SAR, Thailand, Singapore, Malaysia, Mainland China, South Korea, the Philippines, Australia, Indonesia, Taiwan (China), Vietnam, New Zealand, Macau SAR, Brunei, Cambodia, Myanmar, a 99 per cent subsidiary in Sri Lanka, and a 49 per cent joint venture in India. Publicly listed company AIA Insurance Lanka PLC (“AIA Insurance Lanka”) announced that it will delist the Company’s shares from the official list of the Colombo Stock Exchange (“CSE”) in compliance with applicable regulations and procedures while at the same time reaffirming its commitment to the Sri Lankan market. . Our investments in strengthening our brand visibility also resulted in sizeable enhancement in our brand recognition parameters with Total Brand Awareness growing to 86% by the end of the year. “The 5 per cent VONB reduction in Hong Kong reflected a decline in sales from Mainland Chinese visitors in the second half of 2019,  broadly tracking the fall in the number of visitor arrivals as previously highlighted. Macau SAR refers to Macau Special Administrative Region. A virtual Analyst Briefing hosted by Lee Yuan Siong, Group Chief Executive and President, and other Group Executive Committee members was held at 9:30 a.m. Hong Kong time. Which life stages are you in? Annual Report and Accounts 2019 RSA Insurance Group plc Annual Report and Accounts 2019. Who we are For more than 300 years, RSA has been protecting individuals and businesses from insurable risk. Visit our corporate site to learn more about AIA. Interested to join our AIA family? AIA Insurance Lanka PLC is a Sri Lanka-based insurance company. • Gross Written Premium (GWP) of the life insurance business, grew by 11 per cent to a record LKR 12,739 million, driven by growth in regular premium business and a favourable shift in persistency. it's about time you thought about your happiness and aspirations. I am also pleased that OPAT from Mainland China exceeded US$1 billion for the first time, illustrating the attractive financial dynamics of our business. AIA is committed to helping you meet your financial needs and goals with a wide range of life and health protection and long-term savings products. Annual Report The Annual Reports 2020 of Allianz Group and Allianz SE will be released on March 5, 2021. Get information about AIA Insurance Lanka dividends and ex-dividend dates. Easy payment for renewal premium of Personal Lines policy, renewal fee of AIA Vitality membership & outstanding Levy, Exchange rate of foreign currencies to Hong Kong Dollar, Taking care of your own health by being a smart consumer & Get help with your claims, Get information on investment options and valuation day, A selection of forms you can download, fill in and send back to us, A selection of product brochures you can download, Find out more about the mobile app that can help you find medical help, Common Reporting Standard (CRS) video, Information about the Insurance Authority collecting levy on insurance premiums, Important information that you should know, Learn more about the new features of this newly redesigned mobile app, Tools to manage your retirement and pension scheme, Consolidate personal account(s) or transfer MPF assets to AIA. We understand your needs and are committed to offering the right solutions that cater to your evolving needs.​, Provide financial peace of mind in case worst should happen, Relieve financial burden when serious illness strikes, Benefit pay-out based on your illness severity level, Government-certified medical protection plans providing medical cover, with premiums that are eligible for tax deductions, Protect against accidents and other unforeseen events, A game changing wellness programme that redefines the traditional concept of insurance and reward you to live a healthy lifestyle, A comprehensive retirement solutions for employees and self-employed persons, Support your HR strategies with flexible and cost-effective plans to protect your employees, A comprehensive retirement solutions for employers. Growth rates are shown on a constant exchange rate basis below: Increased operating profit and attractive returns, Strong cash flow and resilient capital position. “Our wholly-owned operation in Mainland China once again delivered a very strong performance with 27 per cent growth in VONB. ... LONGER, HEALTHIER, BETTER LIVES. AIA meets the long-term savings and protection needs of individuals by offering a range of products and services including life insurance, accident and health insurance and savings plans. Colombo, 08 March 2019. We have unrivalled distribution capabilities and a diversified, high-quality portfolio of businesses across 18 markets, the latest addition being our recently- launched operation in Myanmar, and we are continuing our preparations for further geographical expansion in Mainland China. The Annual Reports 2019 of Allianz Group and Allianz SE were released on March 6, 2020 . “AIA’s proprietary agency distribution delivered 11 per cent VONB growth as we focused on our quality recruitment programmes to drive an increase in the number of active agents. Our local businesses in affected areas have also been assisting communities with enhanced benefits and expedited claims procedures. AIA became the Official Annual Report 2014. Our domestic customer segment in Hong Kong continued to deliver a strong performance with double-digit VONB growth for the year. Your financial goals requires both objective and expert advice families and communities who have affected., credit life and Participating Products, Copyright © 2020, AIA InsuranceLanka PLC revenues increased 5 to! Detected early which makes preventive screening aia insurance lanka plc annual report 2019 early detection and awareness, imperative Premier strategy. 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