AIA Group’s “other markets” division, including Australia, recorded a 10% increase in new business to $US120 million ($157.77 million) for the six months to May 31.

Annual new premium for the six months totalled $US363 million ($481 million), down from $US367 million ($487 million) in the previous corresponding period.

Total premium for “other markets” was $US1.6 billion ($2.1 billion), up 13%. Operating profit after tax for the division increased 21% to $US228 million ($302 million).

AIA told the Hong Kong Stock Exchange the value of new business in Australia has doubled in the six months to May 31, but it has not revealed figures.

“Our group insurance business achieved strong growth as a result of our clear focus on the retention of major corporate clients in the first half,” it says.

“AIA Vitality remains a critical component of our proposition as an independent protection specialist.”

Overall, AIA Group’s value of new business increased 37% to $US1.2 billion ($1.58 billion) in the six months to May 31.

Annual new premium gained 31% to $US2.3 billion ($3 billion), and total premium was up to $US10.3 billion ($13.6 billion) from $US9.6 billion ($12.7 billion) in the previous corresponding period.

Operating profit after tax totalled $US1.9 billion ($2.5 billion), up from $US1.7 billion ($2.2 billion).

Group CEO Mark Tucker says the results reflect the insurer’s “strong operating performance and the financially disciplined execution of our growth strategy”.

“Our strong results are the direct outcome of successfully executing our strategy and delivering our priorities… which are fully aligned with the huge growth opportunities the region presents,” he said.