Insurer AIA’s new business value rises marginally in third quarter

(Reuters) – Asia-focussed insurer AIA Group Ltd reported a 1% rise in quarterly new business value on Tuesday as sales recovered from pandemic lows in its main markets of China and Hong Kong.

The insurer’s value of new business, or VONB, rose to $741 million in the third quarter from $735 million a year earlier. VONB measures expected profits from new premiums and is a key gauge for future growth.

(Reporting by Harshita Swaminathan and Selena Li; Editing by Devika Syamnath)