Do we like AIA?
Pan-Asian life and health insurer, headquartered in Hong Kong, operating across about 18 markets.
Our score: 6 out of 10. A big, mostly mainstream insurer with some regulator fines for sloppy compliance and customer dealing. It has some climate steps, but we only found older evidence. Fair, not outstanding.
AIA is one of Asia's biggest life insurers, run from Hong Kong. Lee Yuan Siong has been Group Chief Executive since June 2020. He came over from Ping An, and earlier worked at Prudential plc, according to the announcements about his appointment.
In New Zealand, the Financial Markets Authority took AIA to court over misleading representations to customers. AIA admitted the breaches and was ordered to pay a NZ$700,000 penalty in 2022.
In Hong Kong, the Insurance Authority fined AIA International HK$23m over anti-money-laundering failures, including failures in checks on politically exposed persons.
On the plus side, AIA said in 2020 it would cut coal investments, which is a step as scrutiny of insurers' carbon assets grows. It's a decent score but not a stand-out one: we'd back it cautiously.