2021 VONB Performance and Strategic Highlights
Disciplined Approach to Inorganic Growth
Strong, Resilient
Balance Sheet
Profitable
Organic Growth
Accumulated
59.8
(16.2)
Free Surplus
+ 54.8
(Pro forma) (1)
Free Surplus
Prudent, Sustainable
and Progressive Dividend
Disciplined Inorganic Growth
Uses of Free Surplus Since IPO ($b)
(13.0)
(6.2)
+ 0.5
24.8
End of 2010
5.0
New Business
Investment
Dividend
Paid
Acquisitions (2)
Notes: Due to rounding, numbers presented in the chart may not add up precisely
(1)
(2)
(3)
Including cumulative UFSG of $47.0b and $7.8b 2021 pro forma impacts assuming adoption of HKRBC and release of existing additional resilience margins
Including M&A and major bancassurance agreements and $1.9b investment in China Post Life
Including unallocated Group Office expenses, finance costs and other capital movements
(4)
Pro forma assuming adoption of HKRBC and release of existing additional resilience margins
AIA
Return Excess
Capital to Shareholders
Investment Return
Variances and
Other Items (3)
Free Surplus
End of 2021
(Pro forma) (4)
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