Stock Analysis Report

Executive Summary

AIA Group Limited provides insurance products and services.

Snowflake Analysis

Questionable track record with limited growth.

Similar Companies

Share Price & News

How has AIA Group's share price performed over time and what events caused price changes?

Latest Share Price and Events

Stable Share Price: 1299 has not had significant price volatility in the past 3 months.

Market Performance

7 Day Return




HK Insurance


HK Market

1 Year Return




HK Insurance


HK Market

Return vs Industry: 1299 matched the Hong Kong Insurance industry which returned 9.1% over the past year.

Return vs Market: 1299 exceeded the Hong Kong Market which returned -2.9% over the past year.

Shareholder returns

7 Day2.3%1.2%2.9%
30 Day-6.5%-8.5%-4.1%
90 Day1.9%-2.3%2.9%
1 Year10.7%8.9%10.3%8.2%-0.2%-3.8%
3 Year72.9%65.0%44.4%36.7%15.3%3.7%
5 Year95.7%81.8%32.5%21.5%16.8%-2.7%

Price Volatility Vs. Market

How volatile is AIA Group's share price compared to the market and industry in the last 5 years?

Simply Wall St News


Is AIA Group undervalued compared to its fair value and its price relative to the market?


Undervalued compared to fair value

Share Price vs. Fair Value

Below Fair Value: 1299 (HK$81) is trading below our estimate of fair value (HK$93.61)

Significantly Below Fair Value: 1299 is trading below fair value, but not by a significant amount.

Price To Earnings Ratio

PE vs Industry: 1299 is poor value based on its PE Ratio (27.5x) compared to the Insurance industry average (9.2x).

PE vs Market: 1299 is poor value based on its PE Ratio (27.5x) compared to the Hong Kong market (10.1x).

Price to Earnings Growth Ratio

PEG Ratio: 1299 is poor value based on its PEG Ratio (2.3x)

Price to Book Ratio

PB vs Industry: 1299 is overvalued based on its PB Ratio (2.5x) compared to the HK Insurance industry average (0.9x).

Next Steps

Future Growth

How is AIA Group forecast to perform in the next 1 to 3 years based on estimates from 16 analysts?


Forecasted annual earnings growth

Earnings and Revenue Growth Forecasts

Analyst Future Growth Forecasts

Earnings vs Savings Rate: 1299's forecast earnings growth (12.1% per year) is above the savings rate (1.6%).

Earnings vs Market: 1299's earnings (12.1% per year) are forecast to grow faster than the Hong Kong market (11.7% per year).

High Growth Earnings: 1299's earnings are forecast to grow, but not significantly.

Revenue vs Market: 1299's revenue (10.3% per year) is forecast to grow slower than the Hong Kong market (10.5% per year).

High Growth Revenue: 1299's revenue (10.3% per year) is forecast to grow slower than 20% per year.

Earnings per Share Growth Forecasts

Future Return on Equity

Future ROE: 1299's Return on Equity is forecast to be low in 3 years time (14.4%).

Next Steps

Past Performance

How has AIA Group performed over the past 5 years?


Historical annual earnings growth

Earnings and Revenue History

Quality Earnings: 1299 has high quality earnings.

Growing Profit Margin: 1299's current net profit margins (11.8%) are lower than last year (12.3%).

Past Earnings Growth Analysis

Earnings Trend: 1299's earnings have grown by 10.1% per year over the past 5 years.

Accelerating Growth: 1299's earnings growth over the past year (3.4%) is below its 5-year average (10.1% per year).

Earnings vs Industry: 1299 earnings growth over the past year (3.4%) underperformed the Insurance industry 4.6%.

Return on Equity

High ROE: 1299's Return on Equity (9.1%) is considered low.

Return on Assets

Return on Capital Employed

Next Steps

Financial Health

How is AIA Group's financial position? (This company is analysed differently as a bank or financial institution)

Financial Position Analysis

Debt to Equity History and Analysis

Balance Sheet

Inventory Level: 1299 has a low level of unsold assets or inventory.

Debt Coverage by Assets: 1299's debt is covered by short term assets (assets are 9.6x debt).

Financial Institutions Analysis

Asset Level: 1299's level of assets compared to its equity is low.

Allowance for Bad Loans: Insufficient data to determine if 1299 has a sufficient allowance for bad loans.

Low Risk Liabilities: 1299 reports no customer deposits, loans are made up entirely of externally borrowed funds.

Loan Level: Insufficient data to determine if 1299 has an acceptable proportion of non-loan assets held.

Low Risk Deposits: 1299 has advanced significantly more loans than the customer deposits it holds.

Level of Bad Loans: Insufficient data to determine if 1299 has an appropriate level of bad loans.

Next Steps


What is AIA Group's current dividend yield, its reliability and sustainability?


Current Dividend Yield

Dividend Yield vs Market


Current dividend yield vs market & industry

Notable Dividend: 1299's dividend (1.44%) isn’t notable compared to the bottom 25% of dividend payers in the Hong Kong market (2.27%).

High Dividend: 1299's dividend (1.44%) is low compared to the top 25% of dividend payers in the Hong Kong market (6.34%).

Stability and Growth of Payments

Stable Dividend: Whilst dividend payments have been stable, 1299 has been paying a dividend for less than 10 years.

Growing Dividend: 1299's dividend payments have increased, but the company has only paid a dividend for 9 years.

Current Payout to Shareholders

Dividend Coverage: With its reasonably low payout ratio (36.9%), 1299's dividend payments are well covered by earnings.

Future Payout to Shareholders

Future Dividend Coverage: 1299's dividends in 3 years are forecast to be well covered by earnings (35.7% payout ratio).

Next Steps


How experienced are the management team and are they aligned to shareholders interests?


Average management tenure


Keng Hooi Ng (64yo)





Mr. Keng Hooi Ng has been President, Group Chief Executive and Executive Director at AIA Group Limited since June 1, 2017. Mr. Ng served as Executive Vice President and Regional Chief Executive Officer at  ...

CEO Compensation Analysis

Compensation vs Market: Keng Hooi's total compensation ($USD9.54M) is above average for companies of similar size in the Hong Kong market ($USD1.12M).

Compensation vs Earnings: Keng Hooi's compensation has increased by more than 20% in the past year.

Leadership Team

Keng Hooi Ng
Group Chief Executive2.7yrsUS$9.54m0.023% $220.1m
Garth Brian Jones
Group Chief Financial Officer8.8yrsno datano data
Biswa Misra
Group Chief Technology & Operations Officer2.7yrsno datano data
Mark Konyn
Group Chief Investment Officer4.4yrsno datano data
Lance Montague Burbidge
Head of Investor Relations0yrsno datano data
Mitchell New
Group General Counsel0yrsno datano data
Mark Vincent Thomas Saunders
Group Chief Strategy & Corporate Development Officer2.7yrsno datano data
Stuart Anthony Spencer
Group Chief Marketing Officer2.7yrsno datano data
Cara Ang
Group Chief Human Resources Officer2.7yrsno datano data
Andrew Leung
Head of External Manager Strategies0yrsno datano data


Average Tenure


Average Age

Experienced Management: 1299's management team is considered experienced (2.7 years average tenure).

Board Members

Keng Hooi Ng
Group Chief Executive2.7yrsUS$9.54m0.023% $220.1m
Sze-Wing Tse
Independent Non-Executive Chairman9.1yrsUS$752.01k0.028% $271.0m
Chak-Kwong So
Independent Non-Executive Director9.4yrsUS$282.08k0.0011% $10.5m
Juen-Yee Lau
Independent Non-Executive Director5.4yrsUS$222.41k0.0013% $12.9m
Mohamed Bin Yahya
Independent Non-Executive Director6yrsUS$222.41kno data
Narongchai Akrasanee
Independent Non-Executive Director4.1yrsUS$287.43kno data
Swee Lian Teo
Independent Non-Executive Director4.5yrsUS$222.41kno data
Chung-Kong Chow
Independent Non-Executive Director9.4yrsUS$238.69k0.00071% $6.9m
John Harrison
Independent Non-Executive Director8.6yrsUS$282.08k0.00066% $6.4m
Yong-Boon Yeo
Independent Non-Executive Director7.3yrsUS$265.81k0.00042% $4.1m


Average Tenure


Average Age

Experienced Board: 1299's board of directors are considered experienced (6.6 years average tenure).


Who are the major shareholders and have insiders been buying or selling?

Insider Trading Volume

Insider Buying: 1299 insiders have bought more shares than they have sold in the past 3 months.

Recent Insider Transactions

Ownership Breakdown

Dilution of Shares: Shareholders have not been meaningfully diluted in the past year.

Top Shareholders

Company Information

AIA Group Limited's company bio, employee growth, exchange listings and data sources

Key Information

  • Name: AIA Group Limited
  • Ticker: 1299
  • Exchange: SEHK
  • Founded: 1919
  • Industry: Life and Health Insurance
  • Sector: Insurance
  • Market Cap: HK$971.633b
  • Shares outstanding: 12.05b
  • Website:

Number of Employees


  • AIA Group Limited
  • AIA Wealth Select Centre
  • 12/F, AIA Tower
  • North Point
  • Hong Kong


TickerExchangePrimary SecuritySecurity TypeCountryCurrencyListed on
1299SEHK (The Stock Exchange of Hong Kong Ltd.)YesOrdinary SharesHKHKDOct 2010
AAIG.FOTCPK (Pink Sheets LLC)YesOrdinary SharesUSUSDOct 2010
7A2DB (Deutsche Boerse AG)YesOrdinary SharesDEEUROct 2010
1299SHSC (Stock Exchange of Hong Kong Limited - Shanghai - Hong Kong Stock Connect)YesOrdinary SharesHKHKDOct 2010
1299SZSC (The Stock Exchange of Hong Kong - Shenzhen - Hong Kong Stock Connect)YesOrdinary SharesHKHKDOct 2010
1299 NBMV (Bolsa Mexicana de Valores)YesOrdinary SharesMXMXNOct 2010


AIA Group Limited provides insurance products and services. The company offers life, medical, accident protection, critical illness protection, and disability income protection insurance products, as well as savings plans for individuals; and employee benefit, Asia benefits network, credit insurance, and retirement solutions for businesses. It also distributes investment and other financial services products. The company distributes its products and services through agents; distribution partners; other intermediated channels, including independent financial advisers, brokers, private banks, and specialist advisers; and direct channel. It operates in Hong Kong, Macau, Thailand, Singapore, Brunei, Malaysia, China, Korea, Australia, Indonesia, New Zealand, the Philippines, Sri Lanka, Taiwan, Vietnam, India, Myanmar, and Cambodia. AIA Group Limited was founded in 1919 and is headquartered in North Point, Hong Kong. 

Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2020/02/17 13:03
End of Day Share Price2020/02/17 00:00
Annual Earnings2018/12/31

Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more here.