Insurer AIA Group’s third-quarter new business value falls 5%

(Corrects to remove reference to reduced demand for insurance products from paragraph 1)

Oct 30 : Hong Kong-based insurer AIA Group reported a 5 per cent drop in its third-quarter value of new business (VONB) on Friday.

AIA’s VONB, which gauges expected profits from new premiums and is a key barometer for future growth, came in at $1.42 billion on a constant exchange rate basis in the quarter ended September 30, compared with $1.48 billion a year ago.