Corporate Bond Portfolio and Investment Analysis
China Post Life: Capturing Additional Growth in Mainland China
1H22
China Post Life
VONB (1)
+55%
Growing and Enhancing New Business Quality
>$1.1 b
Shift to Products with
Longer Payment Terms
Driving
Protection Sales
Enhanced
Productivity
Regular Premium
Critical Illness
as % of Total New Premium
Products ANP
1H23
China Post Life
CHINA POST INSURANCE
AIA Group's 24.99%
Equity Strategic Investment
ā
72%
83%
1H22
1H23
+47%
1H22
1H23
AIA
>1,800
Insurance Planners
deployed in 1H23
+10%
Average Case Size
1H23 vs 1H22
Highly complementary strategy, targeting underpenetrated mass market segment
Access to PSBC (2) extensive network: ~40k retail financial outlets, >600m retail customers
Value creation via collaboration between China Post Life and Technical Assistance Advisory team
Notes:
(1)
Shown at 100%, VONB is on China Post Life's management basis and is not consolidated into AIA's reported VONB or EV
(2) Postal Savings Bank of China
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