New business in AIA’s “other markets” division, including Australia, grew 32% to $US250 million ($345 million) last calendar year.

The life insurer says Australia achieved double-digit growth.

Annualised new premium in the other markets division was $US759 million ($1 billion), up 33% on 2014.

Operating profit after tax was $US359 million ($495 million), up 25%.

AIA’s group new business totalled $US2.1 billion ($2.9 billion) last year, up 26% on 2014.

Annualised new premium was up to $US3.9 billion ($5.47 billion) from $US3.7 billion ($5.1 billion) in 2014.

Total premium was $US19.8 billion ($27 billion), up 10%.

The group’s after-tax operating profit was up 16% to $US3.2 billion ($4.4 billion).

AIA Group CEO Mark Tucker says the strong results stem from the diversified business model.

“Despite the recent volatility and uncertainty in global financial markets, Asia remains the most attractive and dynamic region for life insurance in the world,” he said.

“The life insurance industry continues to benefit from significant structural economic and demographic trends, rapid urbanisation and growth in disposable incomes across the region.”