AIA Group (HKG:1299) value of new business or VONB increased 13% year over year in the first quarter of 2025, driven by growth across key markets such as Hong Kong and China.

VONB in the three months ended March 31 came in at $1.50 billion on a constant exchange rate basis, compared with $1.33 billion in the year-ago period, according to a Wednesday filing.

The insurer's Hong Kong business delivered a "very strong" quarter with VONB up 16%, buoyed by demand from local customers and mainland visitors. Meanwhile, AIA China's VONB was up by 8%.

The stock gained almost 6% in recent trade on Wednesday.