IFRS 17 Adoption & Financial Impact Overview
IFRS 17 Reinforces Prudence in AIA's Embedded Value
AIA
IFRS 17 Comprehensive Equity
to EV Equity ($b)
As at 31 Dec 2022
IFRS 17 New Business CSM
to VONB ($b)
FY 2022
86.4
71.2
Net CSM
41.7
Shareholders'
Equity
44.7
6.0
2.0x
3.1
VONB
VONB, EV and free surplus more
representative of shareholder value
■
Value of future distributable cash flows
to shareholders
Captures all expenses including
unallocated Group Office expenses
Reflective of regulatory and Group
capital requirements
Risk premium allowance (1) in the
range of 4% to 6%
Free surplus represents shareholders'
view of capital
IFRS 17
Comprehensive Equity
EV Equity
IFRS 17
New Business CSM
(Net of Reinsurance)
Note:
(1) For Hong Kong, Mainland China, Thailand, Singapore and Malaysia
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