AIA third-quarter new business posts tepid rise as HK demand slows

The Hong Kong-based insurer earns a large chunk of its revenue from visitors from mainland China and is the latest in a series of companies to flag concerns about the impact of protests in Hong Kong on business activity.

Hong Kong: Asia-focused insurer AIA Group Ltd said on Monday it posted only a small rise in new business for the third quarter, affected by a "challenging operating environment" in Hong Kong amid political unrest in the Asian financial hub.

AIA's new business value, which measures expected profits from new premiums and is a key gauge for future growth, inched up 1% to $980 million in the three months to Sept. 30. Excluding Hong Kong, new business grew 14%.