AIA boasts of soaring growth

AIA, Asia's third-biggest insurer, this morning said growth accelerated in the third quarter, with its value of new business (VONB) rising 53 per cent as strong performance in markets such as Malaysia helped boost earnings. The insurer, courted by Prudential last year, said in a stock market filing that its value of new business rose to $245m (£155.6m) in the three months ending August. Underlying group VONB margins rose 4.5 percentage points to 36 per cent from a year ago.