AIA Group Limited (AAGIY) Q2 2026 Earnings Call Transcript

SA Transcripts 161.94K Followers Follow AIA Group Limited ( AAGIY ) Q2 2026 Earnings Call August 19, 2026 9:00 PM EDT Company Participants Yuan Siong Lee - Group Chief Executive, President & Executive Director Garth Jones - Group Chief Financial Officer Sami Taipalus - Group Chief Investor Relations Officer Jacky Chan - Regional Chief Executive & Group Chief Distribution Officer Fisher Zhang - Regional Chief Executive Officer Hak Leh Tan - Regional Chief Executive Leo Grepin - Regional Chief Executive & Group Chief Strategy Officer Conference Call Participants Thomas Wang - Goldman Sachs Group, Inc., Research Division M.W. Kim - JPMorgan Chase & Co, Research Division Michelle Ma - Citigroup Inc., Research Division Cheng Zhou - UBS Investment Bank, Research Division Leon Qi - CLSA Limited, Research Division Richard Xu - Morgan Stanley, Research Division Poyung Chang - CGS International Presentation Yuan Siong Lee Group Chief Executive, President & Executive Director Good morning, and thank you for joining AIA's 2026 interim results presentation. We have delivered a strong set of results with double-digit growth across our key financial metrics. Value of new business increased by 10% to a record high of $3.2 billion. We saw growth across all distribution channels and reportable segments, excluding Thailand, which had an exceptionally high comparative as previously disclosed. Underlying VONB growth was 14% adjusting for Thailand. AIA's consistent delivery of high-quality new business has accelerated growth in earnings. Operating profit after tax of $4.2 billion was up 13% per share, driving a record operating ROE of 17.5%. And we now expect to exceed our 9% to 11% OPAT per share CAGR target over 2023 through 2026. Operating cash generation grew strongly with underlying free surplus generation up 10% per share and net free surplus generation up 12% per share. The Board has declared a 10% increase in the interim dividend per share. These results demonstrate that our strategy is working as intended. We are growing fast, returning substantial cash