AIA Group Limited
|Traded as||SEHK: 1299|
|Industry||Insurance and financial services|
|Founder||Cornelius Vander Starr|
1 Connaught Road, Central, Hong Kong
|Mark Tucker (Group Chief Executive and President)|
|Products||Life insurance, accident and health insurance, savings plans, employee benefits, credit life and pension services|
|Total assets||US$167 billion (as of 30 November 2014)|
AIA Group Limited  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, a 97 per cent subsidiary in Sri Lanka, a 26 per cent joint venture in India and representative offices in Myanmar and Cambodia.
AIA traces its roots back to 1919 when an enterprising young man named Cornelius Vander Starr opened an insurance agency in Shanghai, China. Vander Starr eventually expanded his business throughout Asia, United States and worldwide. However, in 1945, he relocated his head office from Shanghai to New York after a forced exit from mainland China. Thus the Asian AIA became 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.
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 and securities company, announced that it will buy AIA for US$35.5 billion. The purchase later fell through, and AIA held an IPO later in October 2010 raising approximately HK$159.08 billion (US$20.51 billion), the world's third largest IPO ever.
In September 2012, AIA agreed to acquire a 92.3 per cent 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.
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 per cent holding of shares in AIA.
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.
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 2018/19 season.
- "AIA fact sheet" (PDF).
- "AIA corporate facts".
- "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.
- "AIA’s successful listing on the Hong Kong Stock Exchange" (PDF). 19 October 2010.
- "AIA Acquires Leading Sri Lankan Insurance Company" (PDF). 27 September 2012.
- "AIA Extends Pan-Asian Leadership Position with Acquisition of ING Malaysia" (PDF). 11 October 2012.
- "AIG Divests Remaining Holding in AIA, Marking a Milestone in AIA’s History" (PDF). 18 December 2012.
- "AIA Announces Sponsorship of Tottenham Hotspur Football Club" (PDF). 15 August 2013.
- "AIA Further Strengthens Pan-Asian Leadership through Exclusive Long-Term Bancassurance Partnership with Citibank in 11 Markets" (PDF). 19 December 2013.
- "AIA Group Enters 5 Year Major Partnership with Tottenham Hotspur Football Club" (PDF). 13 February 2014.
- Hong Kong Office of Commissioner of Insurance
- Hong Kong Securities and Futures Commission
- AIA Group Limited
- AIA Australia
- AIA China
- AIA Hong Kong
- AIA Indonesia
- AIA Malaysia
- AIA New Zealand
- Philam Life
- AIA Singapore
- AIA South Korea
- AIA Sri Lanka
- AIA Taiwan
- AIA Thailand
- AIA Vietnam