AIA Group

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AIA Group Limited
Chinese: 友邦保險控股有限公司
Traded asSEHK1299
Hang Seng Component
IndustryInsurance and financial services
Founded1919; 99 years ago (1919)
FounderCornelius Vander Starr
HeadquartersAIA Central
1 Connaught Road, Central, Hong Kong
Area served
Key people
Ng Keng Hooi (Group Chief Executive and President)
ProductsLife insurance, accident and health insurance, savings plans, employee benefits, credit life and pension services
BrandsThe Real Life Company
Total assetsUS$172 billion (as of 31 May 2015)[1]

AIA Group Limited [2] known as AIA (Chinese: 友邦保險控股有限公司) is the largest independent public listed pan-Asian life insurance group. It has a presence in 18 markets in Asia-Pacific, wholly owned branches and subsidiaries in Hong Kong, Thailand, Singapore, Malaysia, China, Korea, the Philippines, Australia, Indonesia, Taiwan, Vietnam, New Zealand, Macau, Brunei, Cambodia, a 97% subsidiary in Sri Lanka, a 49% joint venture in India and a representative office in Myanmar.

AIA traces its roots back to 1919 when Cornelius Vander Starr opened an insurance agency in Shanghai, China. Vander Starr eventually expanded his business throughout Asia, the US, and worldwide. In 1945, he relocated his head office from Shanghai to New York after a forced exit from mainland China. Thus the Asian AIA became a subsidiary of New York-based American International Group (AIG).

In 2009 AIA split from AIG after it was finalized that AIA, as well as ALICO (another AIG subsidiary), were placed under the administration of a special purpose vehicle in exchange for the Federal Reserve Bank of New York.[3]

AIA was planned to be listed in Hong Kong Stock Exchange in April 2010. However, in March 2010, Prudential PLC, a UK-based financial services and securities company, announced that it would buy AIA for US$35.5 billion.[4] The purchase later fell through, and AIA held an IPO in October 2010, raising approximately HK$159.08 billion (US$20.51 billion), the world's third largest IPO ever.[5]

In September 2012, AIA agreed to acquire a 92.3% stake in Sri Lankan insurer Aviva NDB Insurance from British insurer Aviva and Sri Lanka's National Development Bank (NDB). In addition, AIA entered into an exclusive 20-year bancassurance agreement with NDB, one of Sri Lanka's largest financial conglomerates with a nationwide bank branch network.[6]

In October 2012, AIA announced that it had reached an agreement to acquire ING Group's Malaysian insurance subsidiaries for a cash consideration of €1.336 billion (US$1.73 billion).[7]

In December 2012, AIA was informed by AIG that AIG had entered into a placing agreement to sell all of its ordinary shares of AIA at a price of HK$30.30 per share. Upon completion of the placing, AIG fully divested its previous 13.69% AIA share holdings.[8]

On 15 August 2013, AIA became English Premier League football club Tottenham Hotspur's Cup Shirt sponsor for the 2013-2014 season.[9]

In December 2013, AIA and Citibank reached an agreement on a landmark exclusive bancassurance partnership that encompasses 11 markets in the Asia-Pacific region. The markets included in the agreement are: Hong Kong, Singapore, Thailand, China, Indonesia, Philippines, Vietnam, Malaysia, Australia, India, and Korea.[10]

In February 2014, the insurer announced that it entered into a five-year major partnership with Tottenham Hotspur. Under the agreement, the AIA brand will feature on the shirts of Spurs players in all competitions until the end of the 2018-2019 season.[11]

In June 2014, AIA Singapore was named "Best Employer to Work For in Asia" and received the award from HR Asia. [12]

See also[edit]


  1. ^ "AIA Fact Sheet". AIA Group Limited. Archived from the original on 25 September 2015. Retrieved 2015-09-23. 
  2. ^ "AIA corporate facts". Archived from the original on 10 May 2013. 
  3. ^
  4. ^ "Prudential Plc to Buy AIA for $35.5 Billion to Expand in Asia". BusinessWeek. Archived from the original on 4 April 2010. Retrieved 2010-03-01. 
  5. ^ "AIA's successful listing on the Hong Kong Stock Exchange" (PDF). 19 October 2010. Archived from the original (PDF) on 4 March 2016. 
  6. ^ "AIA Acquires Leading Sri Lankan Insurance Company" (PDF). 27 September 2012. Archived from the original (PDF) on 4 March 2016. 
  7. ^ "AIA Extends Pan-Asian Leadership Position with Acquisition of ING Malaysia" (PDF). 11 October 2012. Archived from the original (PDF) on 4 March 2016. 
  8. ^ "AIG Divests Remaining Holding in AIA, Marking a Milestone in AIA's History" (PDF). 18 December 2012. Archived from the original (PDF) on 25 May 2013. 
  9. ^ "AIA Announces Sponsorship of Tottenham Hotspur Football Club" (PDF). 15 August 2013. Archived from the original (PDF) on 4 March 2016. 
  10. ^ "AIA Further Strengthens Pan-Asian Leadership through Exclusive Long-Term Bancassurance Partnership with Citibank in 11 Markets" (PDF). 19 December 2013. Archived from the original (PDF) on 7 February 2016. 
  11. ^ "AIA Group Enters 5 Year Major Partnership with Tottenham Hotspur Football Club" (PDF). 13 February 2014. Archived from the original (PDF) on 6 July 2014. 
  12. ^ "Singaporean Employers Setting Clear Expectations But Need to Build Trust". The Business Journals. Retrieved 2015-07-10. 

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