HONG KONG -- Asia-focused insurer AIA Group's net profit plummeted in 2022, as investment returns suffered amid rising interest rates, although the company sees positive trends this year in the key mainland China market.
The Hong Kong-based company's net profit dropped 96.2% to $282 million, down from $7.42 billion in 2021 and marked its biggest decline since the group's Hong Kong IPO in 2010, according to company filings submitted Friday.
