Bank of America Securities: AIA Group (01299.HK) saw growth in new business value in the last quarter that exceeded expectations, and momentum remains solid.

According to the Wisdom Financial News APP, Bank of America Securities released a research report stating that AIA Group (01299.HK) announced its operational data for the first nine months and third quarter of 2025. The Group's new business value increased by 19% in the first nine months of 2025 compared to the same period last year, based on actual exchange rates, and by 18% based on fixed exchange rates, compared to the bank's expected 15% increase. The growth in the third quarter of 2025 was 27% and 25% respectively. The new business value profit margin increased from 53.3% in the same period of 2024 to 57.9% in 2025. Among its 18 markets, 11 recorded double-digit year-on-year growth in the third quarter of 2025, with Hong Kong leading the way and maintaining solid growth momentum. The stock is currently trading at around 1.2 times the 2026 forecast intrinsic value multiple. The bank reiterated its "buy" rating on the stock with a target price of 90 Hong Kong dollars.