American International Assurance
 |
|
| Type | Public |
|---|---|
| Traded as | SEHK: 1299 |
| Industry | Insurance, financial services |
| Founded | 1931 (as International Assurance Company, Ltd.) |
| Founder(s) | Cornelius Vander Starr |
| Headquarters | AIA Central 1 Connaught Road Central, Central, Hong Kong |
| Area served | Worldwide |
| Key people | Mark Tucker (President and CEO) |
| Products | Insurance annuities, mutual funds |
| Net income | US$ 2,710 million (2010)[1] |
| Total assets | US$ 107.9 billion (2010)[1] |
| Employees | 21,000 (2010)[1] |
| Subsidiaries | Philamlife |
| Website | AIA.com |
American International Assurance known as AIA (Chinese: 美國友邦保險) is an insurance company based in Hong Kong. It has offices in Asia-Pacific region including Taiwan, China, Australia, New Zealand, Japan, India, Malaysia, Macau, South Korea, Thailand, Philippines, Singapore, Brunei and Vietnam. Subsidiaries include Philippine American Life and General Insurance Company.
It was a member of American International Group, but separated from the group in 2009 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.[2]
According to the statistics from the Office of the Commissioner of Insurance (保險業監理處), AIA being the number 1 of Hong Kong insurance company in terms of the number of policies, its market share in Hong Kong Insurance market (on Non-Linked Individual Business) is 26% and sum assured worth more than 400 billion HKD (i.e. more than $ 50 billion).[3]
AIA was planned to be listed in Hong Kong Stock Exchange in April 2010. However, in March 2010, Prudential plc, a United Kingdom-based financial services company, announced that it will buy AIA for $35.5 billion.[4] The purchased later fell through, and AIA held an IPO later in October 2010 raising $20.51 billion, the third largest ever IPO.[5]
[edit] See also
[edit] References
- ^ a b c "AIA 2010 Annual Report". http://media.corporate-ir.net/Media_Files/IROL/23/238804/AIA_2010Annual_Report_End_Final.pdf. Retrieved 2010-07-13.
- ^ http://ir.aigcorporate.com/phoenix.zhtml?c=76115&p=irol-newsArticle&ID=1360144&highlight=
- ^ "Provisional Statistics on Hong Kong Long Term Insurance Business: January to June 2008" (in Traditional Chinese and English (bilingual)) (pdf). Office of the Commissioner of Insurance. pp. 19–21. http://www.oci.gov.hk/download/2q08long.pdf. Retrieved 2008-09-17.
- ^ "Prudential Plc to Buy AIA for $35.5 Billion to Expand in Asia". BusinessWeek. http://www.businessweek.com/news/2010-03-01/prudential-plc-to-buy-aia-for-35-5-billion-to-expand-in-asia.html. Retrieved 2010-03-01.
- ^ "AIG Says AIA IPO Generated Gross Proceeds Of $20.51B". The Wall Street Journal. 2010-10-29. http://online.wsj.com/article/BT-CO-20101029-716439.html.[dead link]
[edit] External links
- AIA Group
- AIA Australia
- AIA China
- AIA Hong Kong
- AIA Indonesia
- AIA Malaysia
- AIA New Zealand
- Philam Life
- AIA Singapore
- AIA South Korea
- AIA Taiwan
- AIA Thailand
- AIA Vietnam
|
||||||||||||||
 |
This article on an insurance company is a stub. You can help Wikipedia by expanding it. |
