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AIA Group Limited — Capital/Financing Update 2013
Dec 19, 2013
49833_rns_2013-12-19_bff2a71a-df78-42e7-9e95-151aaee7b607.pdf
Capital/Financing Update
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This announcement is for information purposes only and does not constitute an invitation or offer by any person to acquire, purchase or subscribe for securities. This announcement is not, and is not intended to be, an offer of securities of the Company for sale in the United States. The securities of the Company have not been, and will not be, registered under the U.S. Securities Act of 1933, as amended (the “U.S. Securities Act”) and may not be offered or sold in the United States absent registration or an applicable exemption from registration requirements under the U.S. Securities Act. There is not, and is not intended to be, any public offering of the securities of the Company in the United States.
Hong Kong Exchanges and Clearing Limited and The Stock Exchange of Hong Kong Limited take no responsibility for the contents of this announcement, make no representation as to its accuracy or completeness and expressly disclaim any liability whatsoever for any loss howsoever arising from or in reliance upon the whole or any part of the contents of this announcement.
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AIA Group Limited 友邦保險控股有限公司
(Incorporated in Hong Kong with limited liability) Stock Code: 1299
VOLUNTARY ANNOUNCEMENT
AIA FURTHER STRENGTHENS PAN-ASIAN LEADERSHIP THROUGH EXCLUSIVE LONG-TERM BANCASSURANCE PARTNERSHIP WITH CITIBANK IN 11 MARKETS
AIA Group Limited (the “Company” or “AIA”) is pleased to announce that today AIA and Citibank N.A. (“Citibank”) have reached agreement on a landmark exclusive bancassurance partnership that encompasses 11 markets in the Asia-Pacific region. The markets included in the agreement are: Hong Kong, Singapore, Thailand, China, Indonesia, Philippines, Vietnam, Malaysia, Australia, India and Korea.
The exclusive distribution agreement is for a 15-year period. The partnership involves all retail distribution channels, including branches, telemarketing and online channels. It covers both retail and group life insurance product areas (excluding credit insurance) and provides AIA access to Citibank’s corporate clients and approximately 13 million existing retail cardholders and banking customers in the 11 markets.
Mark Tucker, AIA’s Group Chief Executive and President, said: “This highly attractive distribution agreement further consolidates AIA’s leading position in Asia’s fast growing life insurance markets and significantly enhances our bancassurance platform alongside our long-established and market leading agency channel. Our new long-term partnership provides exclusive access to Citibank’s extensive regional distribution network. It will enable AIA to apply our in-branch sales expertise, leading point-of-sale technology and broad product range with the objective of considerably increasing the life and health insurance penetration of Citibank’s large retail and commercial customer base across Asia.”
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Mr. Tucker further commented: “This long-term agreement is a natural fit for both AIA and Citibank to create value for our customers, employees and shareholders through a demonstrated commitment to the future growth and development of the Asia-Pacific region.”
The new partnership arrangements will be implemented in each local territory during the course of 2014.
Contacts
| Investment Community | Investment Community | News Media | |
|---|---|---|---|
| Paul Lloyd | +852 2832 6160 | Stephen Thomas | +852 2832 6178 |
| Feon Lee | +852 2832 4704 | Sonia Tsang | +852 2832 1868 |
| Joel Lieginger | +852 2832 4703 | Emerald Ng | +852 2832 4720 |
About AIA
AIA Group Limited and its subsidiaries (collectively “AIA” or “the Group”) comprise the largest independent publicly listed pan-Asian life insurance group. It has operations in 17 markets in Asia-Pacific – wholly-owned branches and subsidiaries in Hong Kong, Thailand, Singapore, Malaysia, China, Korea, the Philippines, Australia, Indonesia, Taiwan, Vietnam, New Zealand, Macau, Brunei, a 97 per cent subsidiary in Sri Lanka, a 26 per cent joint venture in India and a representative office in Myanmar.
The business that is now AIA was first established in Shanghai over 90 years ago. It is a market leader in the Asia-Pacific region (ex-Japan) based on life insurance premiums and holds leading positions across the majority of its markets. It had total assets of US$147 billion as of 31 May 2013.
AIA meets the savings and protection needs of individuals by offering a range of products and services including retirement savings plans, life insurance and accident and health insurance. The Group also provides employee benefits, credit life and pension services to corporate clients. Through an extensive network of agents and employees across Asia-Pacific, AIA serves the holders of more than 27 million individual policies and over 16 million participating members of group insurance schemes.
AIA Group Limited is listed on the Main Board of The Stock Exchange of Hong Kong Limited under the stock code “1299” with American Depositary Receipts (Level 1) traded on the over-thecounter market (ticker symbol: “AAGIY”).
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Listing Rules Implications
The partnership does not constitute a notifiable transaction for the Company under Chapter 14 of the Rules Governing the Listing of Securities on The Stock Exchange of Hong Kong Limited.
This document contains forward-looking statements relating to the Group that are based on the beliefs of its management as well as assumptions made by and information currently available to its management. These forward-looking statements are, by their nature, subject to significant risks. When used in this document, the words “will”, “plan”, “should” and similar expressions are intended to identify forward-looking statements. You are strongly cautioned that reliance on any forward-looking statements involves known and unknown risks and uncertainties. Actual results and events may differ materially from information contained in the forward-looking statements.
By Order of the Board Mark Edward Tucker Executive Director, Group Chief Executive and President
Hong Kong, 19 December 2013
As at the date of this announcement, the board of directors of the Company comprises:
Non-executive Chairman and Non-executive Director:
Mr. Edmund Sze-Wing Tse
Executive Director, Group Chief Executive and President:
Mr. Mark Edward Tucker
Independent Non-executive Directors:
Mr. Jack Chak-Kwong So, Mr. Chung-Kong Chow, Dr. Qin Xiao, Mr. John Barrie Harrison, Mr. George Yong-Boon Yeo and Dr. Narongchai Akrasanee
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