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Hong Kong/Singapore, [12 July 2024] – AIA Group Limited (“AIA” or the “Group”) announces a new agreement with BlackRock and BNY, as AIA transforms its investment platform, to support the company’s long-term investment programme.
Through this agreement, AIA will implement BlackRock’s Aladdin®, a technology platform that unifies the investment management process, with BNY’s specialised investment operations and data management services and technology, to create a connected and scalable ecosystem to support AIA’s evolving investment activities. This will provide AIA with an end-to-end solution, empowering the Group’s investment professionals with enhanced data and analytics capability, and more robust risk management tools.
Mark Konyn, AIA Group Chief Investment Officer, said, “This strategic collaboration brings our long-term investment programme together with an enhanced ability to deliver industry-leading investment solutions and provide positive, sustainable outcomes for our stakeholders. As we work with BlackRock and BNY to transform our platform, AIA will continue managing our growing investment portfolio at greater scale to meet our performance, risk management and sustainable investment goals. With the solutions we are implementing, AIA will gain a single, consistent, and timely view across all asset classes allowing us to make even more informed investments across complex market environments.”
Rob Goldstein, Chief Operating Officer, BlackRock, said, “We are thrilled to engage with AIA to deliver the breadth of Aladdin across AIA’s whole portfolio, including public and private assets, along with the ability to support insurance-specific needs. We look forward to working with BNY to deliver a seamless experience to AIA.”
Emily Portney, Global Head of Asset Servicing, BNY, said, "We are proud to support AIA in enhancing their investment platform with a new data-driven operating model that will deliver critical insights, elevate the client experience and improve operational efficiency. We are also excited to continue our ongoing collaborative work with BlackRock, to deliver best-in-class solutions for our mutual clients.”
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AIA Group Limited and its subsidiaries (collectively “AIA” or the “Group”) comprise the largest independent publicly listed pan-Asian life insurance group. It has a presence in 18 markets – wholly-owned branches and subsidiaries in Mainland China, Hong Kong SAR(1), Thailand, Singapore, Malaysia, Australia, Cambodia, Indonesia, Myanmar, New Zealand, the Philippines, South Korea, Sri Lanka, Taiwan (China), Vietnam, Brunei and Macau SAR(2), and a 49 per cent joint venture in India. In addition, AIA has a 24.99 per cent shareholding in China Post Life Insurance Co., Ltd.
The business that is now AIA was first established in Shanghai more than a century ago in 1919. It is a market leader in Asia (ex-Japan) based on life insurance premiums and holds leading positions across the majority of its markets. It had total assets of US$286 billion as of 31 December 2023.
AIA meets the long-term savings and protection needs of individuals by offering a range of products and services including life insurance, accident and health insurance and savings plans. The Group also provides employee benefits, credit life and pension services to corporate clients. Through an extensive network of agents, partners and employees across Asia, AIA serves the holders of more than 42 million individual policies and over 18 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 codes “1299” for HKD counter and “81299” for RMB counter with American Depositary Receipts (Level 1) traded on the over-the-counter market under the ticker symbol “AAGIY”.
BlackRock’s purpose is to help more and more people experience financial well-being. As a fiduciary to its advisory clients and a provider of financial technology for institutions and professional investors, we help millions of people build savings that serve them throughout their lives by making investing easier and more affordable. BlackRock’s Aladdin® platform is a financial technology platform designed for institutional use only and is not intended for end investor use. For additional information on BlackRock, please visit www.blackrock.com/corporate
BNY is a global financial services company that helps make money work for the world — managing it, moving it and keeping it safe. For 240 years we have partnered alongside our clients, putting our expertise and platforms to work to help them achieve their ambitions. Today we help over 90% of Fortune 100 companies and nearly all the top 100 banks globally access the money they need. We support governments in funding local projects and work with over 90% of the top 100 pension plans to safeguard investments for millions of individuals, and so much more. As of March 31, 2024, we oversee $48.8 trillion in assets under custody and/or administration and $2.0 trillion in assets under management.
BNY is the corporate brand of The Bank of New York Mellon Corporation (NYSE: BK). We are headquartered in New York City, employ over 50,000 people globally and have been named among Fortune's World's Most Admired Companies and Fast Company's Best Workplaces for Innovators. Additional information is available on www.bny.com. Follow us on LinkedIn or visit our Newsroom for the latest company news.
AIA
Duke Malan
+852 2832 4726
Duke.malan@aia.com
BlackRock
Charles Donohoe
+852 3903 2597
charles.donohoe@blackrock.com
BNY
Anneliese Diedrichs
anneliese.diedrichs@bny.com