Healthier, Longer, Better Lives
AIA
Free Surplus (1) ($b)
Financial Discipline Driving Free Surplus Generation
Use of Free Surplus (1) Since IPO ($b)
40.5
(14.5)
>20% IRR
New Business
Investment
Cumulative
UFSG
New
Business
since 2010 Investment
→ VONB of $24.9b
→ Paid more than $10b dividends
→ Financed inorganic opportunities
(10.8)
→ Minimal investment variances
(3.8)
(2.3)
(0.6)
8.5
5.0
+8.5
13.5
Dividend Acquisitions
Paid
Central
Costs (2)
Investment
Return
Variances
and Other
Non-operating
Increase in
Free Surplus
2010
2020
since 2010
Notes:
Due to rounding, numbers presented in the chart may not add up precisely
(1)
(2)
Free surplus is the excess of the market value of AIA's assets over the sum of the statutory liabilities and required capital
Unallocated Group Office expenses, finance costs and other capital movements
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