[ET Net News Agency, 26 September 2019] Citi Research initiated coverage on AIA Group
(1299.HK) with a "buy" rating and a target price of HK$90.
The research house said AIA is well known for its high quality and proven long-term
record across 18 markets in Asia. Despite the social unrest in HK, the insurer looks
poised for another takeoff with China's gradual opening up.
Citi believes AIA will be the largest beneficiary of the early removal of the foreign
ownership cap in China's financial sector. It also enjoys first-mover advantages under the
Greater Bay Area initiatives such as Insurance Connect.
It added that AIA has a record of high-quality result delivery; VONB (value of new
business) and EV (Embedded Value) CAGRs in 2013-18 were decent 22% and 10%, respectively.
(KL)
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01299 AIA
Nominal 
51.550 +1.100 (+2.180%) Others
26/09/2019 13:52
{I-bank focus}Citi starts AIA Group (01299) at "buy" & HK$90
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