AIA first-half profit jumps 53% amid mainland Chinese insurance-buying spree in Hong Kong
AIA Group, Asia's largest insurer, reported its best first-half profit in five years, as mainland Chinese customers continue buying policies in Hong Kong with an eye on better investment returns and as a hedge against a weakening yuan. Net profit rose 53 per cent in the six months to June to US$3.31 billion, or 29.53 US cents per share, according to a filing to the Hong Kong stock exchange on Thursday. This exceeded analysts' estimates of a 45 per cent increase in net profit to US$3.27. It was a