Asian insurance giant AIA Group Ltd.'s (1299.HK) growth momentum has continued in the current quarter ending Feb. 28, Chief Executive Mark Tucker said Friday.

The insurer reported earlier Friday a net profit of US$2.7 billion for the last fiscal year ended Nov. 30, up from US$1.75 billion a year earlier, driven by investment gains and new business growth.

The company will give more details on its first-quarter performance in coming weeks, Tucker said at a news conference.

Marc de Cure, AIA's chief financial officer, said on the sidelines of the conference the company has benefited from Asia's monetary conditions and foreign-exchange rates.

"Rising interest rates in the region and appreciation of Asian currencies are all positive to the group's earnings," he said.

The company, which is 33%-owned by American International Group Inc. (AIG), listed shares in Hong Kong in October.

-By Fiona Law, Dow Jones Newswires; 852-2802-7002; fiona.law@dowjones.com
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