AIA Group has released its 2025 annual report ahead of schedule. The report includes the first chairman's statement from Mark Tucker since he assumed the role of independent chairman of AIA on October 1 last year.

Mark Tucker stated that since returning to AIA as chairman of the board, he has visited most of the company's markets and business connections, engaging in productive discussions with partners, regulators, government officials, and other stakeholders. In his view, AIA achieved strong performance in 2025.

According to the data, AIA's new business value for 2025 reached $5.516 billion, a 15% year-on-year increase. Post-tax operating profit was $7.136 billion, with earnings per share rising by 12%. Insurance service performance grew by 18% to $6.772 billion, accounting for 80% of pre-tax operating profit.

Senior executives received substantial compensation. In 2025, Mark Tucker received $584,800 in remuneration from AIA, while Executive Director, Chief Executive Officer, and President Lee Yuan Siong received total compensation of $14.7711 million (approximately 106 million yuan).

Total remuneration for key management personnel increased from $55.1369 million in 2024 to $61.6628 million in 2025.

Specifically, Hong Kong remained AIA's largest market, with new business value growing by 28% to $2.256 billion in 2025. Mainland China was the second-largest market. In contrast, new business value in Mainland China was $1.240 billion for 2025, representing a 2% growth rate, which was lower than that of Hong Kong. Furthermore, the new business value margin in Mainland China was 57.6%, also lower than Hong Kong's 68.5%.

Lee Yuan Siong emphasized externally that "Mainland China remains the most important market for AIA Group, ranking first in terms of future growth potential and contribution to the Group." In the mainland market, AIA's 'best-in-class agency' remains the primary competitive advantage, contributing 85% of the new business value. In 2025, the number of new recruits increased by 14%, leading to an 8% increase in the total number of active agents.

Additionally, in 2025, new business value from AIA's nine new regional branches (Tianjin, Hebei, Sichuan, Hubei, Henan, Anhui, Shandong, Chongqing, and Zhejiang) grew by 45% to $118 million.

In August 2025, AIA announced an ambitious target: to achieve a 40% compound annual growth rate in new business value from its new geographical areas between 2025 and 2030. Despite this lofty goal, the path for AIA's business expansion in Mainland China remains long.

AIA's wholly-owned subsidiary in Mainland China is AIA Life Insurance Company Ltd., which was established in 2020 and has been operating for nearly six years. In 2025, AIA Life saw a change in leadership. Zhang Xiaoyu, AIA Group's Regional Chief Executive Officer, assumed the role of Chairman of AIA Life starting March 2025.

Zhang Xiaoyu joined AIA in 2000 and has held positions in the former AIA China's actuarial department, administration department, and business development department. In 2017, he became CEO of AIA China, with overall responsibility for the company's operations and management in Mainland China, and served as Executive Director and General Manager of AIA Life from July 2020 to March 2025. Having worked in AIA's China operations for many years, he possesses extensive experience and connections.

In his first year at the helm of AIA Life, the pace of progress was not particularly rapid. In 2025, AIA Life achieved insurance revenue of 82.415 billion yuan, a year-on-year increase of 14.72%, and a net profit of 12.131 billion yuan, a year-on-year increase of 44.35%. These growth rates narrowed compared to 2024, when the increases in insurance revenue and net profit were 18.23% and 96.95%, respectively.

As of the end of 2025, AIA Life's total assets were 490.93 billion yuan, an increase of 19.12% year-on-year, while its net assets were 42.837 billion yuan, a decrease of 8.30% from the end of the previous year, showing a slight decline. On the solvency front, AIA Life's core solvency also decreased. As of the end of the fourth quarter of 2025, AIA Life's core solvency adequacy ratio and comprehensive solvency adequacy ratio were 226% and 335%, respectively, down by 16 percentage points and 23 percentage points from the end of the previous quarter.