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01336 NCI
RTNominal down29.900 -0.300 (-0.993%)

05/12/2019 11:49

{I-bank focus}NCI to lay good foundation for NBV growth

[ET Net News Agency, 5 December 2019] Nomura cited management of New China Life
(NCI)(01336) on investor open day proposing "Second Take-off" plan, which mainly includes
(1) NCI to target to remain as the first tier life player, (2) aim to achieve an AUM of
>CNY1trn in the future, and (3) to deliver both volume and value growth.
According to management guidance, NCI targets a strong agency force expansion of 35% to
500,000 by end-FY2019. The research house thinks it may lay a good foundation for new
business volume growth into FY2020.
In addition, bancassurance will be positioned as an important channel for NCI's future
business expansion, with a focus on both single and regular premium products, as per
management guidance.
Nomura maintained its "buy" rating on NCI, with a target price of HK$47.53. (KL)

Remark: Real time quote last updated: 05/03/2021 17:59
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