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01336 NCI
RTNominal up14.760 +0.440 (+3.073%)
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16/01/2018 10:46

[I-bank focus]HSBC lifts New China Life (01336) to HK$59

[ET Net News Agency, 16 January 2018] HSBC Global Research lifted its target price for
New China Life (NCI)(01336) to HK$59 from HK$53, and downgraded its rating to "hold" from
"buy".
The research house said NCI is a pure play life insurer focused on growth in regular
premiums through the agency channel having de-emphasised bancassurance over the past 18
months.
HSBC is concerned that new business momentum will slow in the coming quarters as NCI
withdrew products banned under document 134 later than peers and 1Q GWP (gross written
premium) has historically represented 40% of GWP in 2016. (KL)

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