not vested
AIA third-quarter new business posts tepid rise as HK demand slowsThe Hong Kong-based insurer earns a large chunk of its revenue from visitors from mainland China and is the latest in a series of companies to flag concerns about the impact of protests in Hong Kong on business activity.
Hong Kong: Asia-focused insurer AIA Group Ltd said on Monday it posted only a small rise in new business for the third quarter, affected by a "challenging operating environment" in Hong Kong amid political unrest in the Asian financial hub.
AIA's new business value, which measures expected profits from new premiums and is a key gauge for future growth, inched up 1% to $980 million in the three months to Sept. 30. Excluding Hong Kong, new business grew 14%.
The Hong Kong-based insurer earns a large chunk of its revenue from visitors from mainland China and is the latest in a series of companies to flag concerns about the impact of protests in Hong Kong on business activity.
"Some of our markets are experiencing headwinds from the lower interest rate environment, falling consumer confidence and rising political and trade tensions," the company said in a statement.
"In particular, the reduced numbers of Mainland Chinese visitors to Hong Kong continue to affect sales."
The company's Hong Kong business reported a double-digit reduction in new business during the period, while the operation in mainland China "was our fastest-growing reportable market segment in the third quarter," AIA said.
Source: Reuters
https://www.thestar.com.my/business/bus ... AWIRTrx.99
It's all about "how much you made when you were right" & "how little you lost when you were wrong"