AIA has reported a 17% jump in the value of new business to $US1.9 billion ($2.5 billion) for the six months to June 30.

Annualised new premium increased 9% to $US3.2 billion ($4.3 billion) and operating profit after tax was up 14% to $US2.6 billion ($3.5 million).

Mortality and morbidity claims experience increased to $US141 million ($192 million) in the six months from $US120 million ($163 million) in the corresponding period last year.

The value of new business in what AIA calls “other markets”, which includes Australia, was up 7% to $US201 million ($274 million). This is attributed to strong growth in group life insurance schemes in Australia and double-digit growth in Vietnam and Indonesia.

Annual new premium in “other markets” was $US608 million ($828 million), up from $US444 million ($605 million).

Operating profit in the division was up 16% to $US393 million ($535 million).

AIA Group CEO Ng Keng Hooi says the company has delivered a strong result for the first half.

“These results are underpinned by the continued execution of our proven growth strategy and the scale, quality and breadth of AIA’s exceptional businesses across the Asia-Pacific region,” he said.

“AIA continues to hold a uniquely advantaged position stemming from the significant competitive advantages we have created over our long history in Asia.

“The quality of our results comes from our diverse and balanced platforms – across distribution, product and geography.”