AIA Financial Overview and ESG Commitment
AIA
China Post Life: Capturing Additional Growth in Mainland China
Significant Value Uplift Since AIA's 24.99% Investment Announcement
Largest Financial Distribution
Network Through PSBC
Retail Customer Base 637m
Fast-Growing
New Business
# of Retail Financial Outlets (1)
VONB
Shift to Longer-Term,
Higher-Margin Products
FY22 Regular Premium
as % of Total New Premium
Market-Leading
Efficiency
Administrative
Expense Ratio (3)
~40,000
23,000
33,000 (2)
16,000
>$1b
3.8x
PSBC
No. 2
No. 3
FY20
FY21
FY22
22
provinces
296
1,690
cities
counties
22%
Regular
Premium
78%
1/3
Listed
Peers
Average
Bank-affiliated
Peers
CPL
Value creation via dedicated joint Technical Assistance Advisory team
Supporting strategic priorities across product development, distribution,
technology, investment, risk and capital management
Notes: Source: China Post Life, Postal Savings Bank of China (PSBC), China Post Group and company annual reports. All figures are as of end 2021 unless otherwise stated
(1)
Retail financial outlets refers to bank branches and other outlets of PSBC that distribute life insurance. Retail financial outlets for peers refers to bank branches. Numbers shown are rounded to the nearest thousand
(2) Refers to retail financial outlets that currently distribute China Post Life insurance products
(3)
Refers to latest available administrative expenses divided by gross written premium; Source: Company annual reports and industry estimations
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