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01336 NCI
RTNominal up34.650 +0.650 (+1.912%)
Others

05/12/2019 09:50

{I-bank focus}Daiwa lowers NCI (01336) to HK$32; "hold"

[ET Net News Agency, 5 December 2019] Daiwa Research lowered its target price for New
China Life Insurance (NCI)(01336) to HK$32 from HK$35 and maintained its "hold" rating.
The research house said NCI's "1 + 2 + 1" strategy from 2020 views life insurance
as the main body of its strategy with an aim to meet customers' diversified needs of
insurance protection.
In terms of the ranking of its premium market share, NCI targets to be one of the top 5
in the industry. In 2014, it had an 8.7% market share and was ranked No.3 in the industry.
It currently has a 4.5% market share, ranking No.7 for 10-month 2019, versus Taiping Life
which was ranked No.5 with a 4.8% market share.
Daiwa lowered its 2019 VNB forecast (-11% YoY from zero) and cut its earnings forecasts
by 2-8% over 2019-21 due to a likely narrowing margin and rising expenses. (KL)

Remark: Real time quote last updated: 17/01/2020 17:59
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