2017.02.2406:19:00UTC+00AIA Group profit surges 51 percent

Hong Kong-based AIA Group Ltd. on Friday said it reported a 51 percent rise in its net profit on year ended November from a year ago, helped by a strong growth in the Asia-Pacific region.

The insurance company said its annual net profit jumped to US$4.16 billion from US$2.77 billion in the previous year, while recording US$28.20 billion in total revenue, up 20 percent from the US$23.35 billion it reported a year earlier.

The insurer's new-business value--a key measure of profitability--rose 28% to US$2.75 billion for the full fiscal year. Annualized new premium sales rose 31% to US$5.12 billion.