According to the Asian Insurance Company AIA group of Asia, said this Friday that that their net profit for the last year were boosted to 54% when the weak U. S. Dollar motivated its investment gains and a new business arose.

In a news conference, AIA Chief Executive, Mark Tucker said that he expected the pace of growth to extend into the first quarter if the company that would end on Feb 28. He further added that the insurer is to report the results of the first quarter in the weeks to come.

AIA which was previously spun off by the American International Group (AIG) in a listing in Hong Kong, made a report that the net profit that the firm had for a period of 132 months ending on Nov 30, grew up to US$2.7 billion from US$1.75 in the previous year.

This surpassed it average US$ 2.1 billion net profit forecast of 10 scrutinizers as polled earlier by Reuters.

"Recovery (in the region) is under way, and we expect much more to come" in 2011, Tucker told reporters in a conference call.

He was also of the view that the company saw a huge rise in profitability in the fourth quarter and added that AIA results were due to contributions of gains in currencies of different nations in Asia, especially in China.