Corporate Bond Portfolio and Investment Analysis
High-Quality, Diversified and Resilient Investment Portfolio
Par (3)
Business
Non-Par
and Surplus
Total
Assets
($b)
Government & Government Agency Bonds
27.5
58.2
85.6
Corporate Bonds
47.5
29.3
76.8
Structured Securities
0.4
1.8
2.2
Loans and Deposits
0.7
3.5
4.2
Fixed Income
76.1
92.8
168.9
Equities (1)
27.6
12.4
40.0
Real Estate
☐
3.6
4.4
8.0
Others (2)
1.2
5.4
6.6
Total Invested Assets
108.5
115.0
223.5
(1)
Notes: As of 30 Jun 2023. Due to rounding, numbers presented in the table may not add up precisely
Includes equity shares, interests in investment funds and exchangeable loan notes
(2)
(3)
(4)
Cash and cash equivalents and derivative financial instruments used for risk management purposes
Including participating funds and other participating business with distinct portfolios
Including not rated bonds
(5)
Excluding LGFVs
(6)
Government and government agency bonds
AAA
BB & below (4)
1%
AA
7%
8%
Corporate
BBB
42%
Bonds
By Credit Rating
$29.3b
A
42%
AIA
Investment grade corporate bond portfolio
Average rating unchanged at A-
>1,900 issuers, diversified across sectors and geography
Average holding size of $15m
No material increase in expected credit loss (ECL) provision
AIA Group's Mainland China Exposure
$1.1b in real estate bonds and equities (5)
$0.8b in local government financing vehicles (LGFVs)
AIA China's Prudent Investment Portfolio
■
>90% of AIA China's fixed income portfolio in government bonds (6)
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