AIA Group's stock price surged 5.04% in intraday trading, following the release of its impressive first-quarter results. The Hong Kong-based insurer reported a substantial 13% year-on-year increase in its value of new business (VONB), a key indicator of future growth, signaling strong momentum in its core operations.

According to the company's latest financial update, AIA's VONB reached US$1.497 billion in the first quarter, up from US$1.33 billion in the same period last year. This growth was primarily driven by robust performance in its Hong Kong market, which saw a notable 16% annual increase in VONB. The insurer benefited from strong demand from both local customers and mainland Chinese visitors, as Chinese investors increasingly turn to offshore insurance policies as an alternative investment vehicle amid limited domestic options and a weakening yuan.

Further bolstering investor confidence, AIA reported a 7% increase in Annualised New Premiums (ANP) to US$2.617 billion on a constant exchange rate basis. The company also improved its VONB margin, which rose by 3.0 percentage points to 57.5%. These results underscore AIA's ability to capitalize on the growing demand for insurance products in Asia, driven by high levels of private savings, aging populations, and limited welfare coverage in the region. As geopolitical tensions and market volatility persist, AIA's strong performance demonstrates its resilience and potential for continued growth in the Asian insurance market.