[ET Net News Agency, 5 November 2018] Daiwa Research lowered its target price for New
China Life Insurance (NCI)(01336) to HK$50 from HK$52, and maintained its "buy" rating.
The research house said NCI's transformation strategy (began in 2H 2016) has transformed
its premium mix from a reliance on bancassurance single-premiums to an agency-channel
health insurance-driven business. Its FYP and VNB growth were driven by health insurance
in the form of both long-term critical illness and short-term riders in 2Q-3Q 2018. Health
insurance contributed 56% to its FYP in 1H 2018 versus 21% in 2016 and 35% in 2017.
Daiwa lowered its EV and 2018-20 earnings forecasts by 0.3-13% as a result of the recent
volatility in the capital markets. Its new forecast calls for flat YoY VNB growth for NCI
in 2018. (KL)
|
|
|
|
|
|
|
|
|
|
Super Quote | Detail Quote | Interactive Chart | Transaction | Related News | Related Securities | Company Information | Dividend Records | Short Sell
01336 NCI
Nominal 
14.320 0.000 (0.000%) Others
05/11/2018 14:26
[I-bank focus]Daiwa lowers New China Life (01336) to HK$50
| Remark: | Real time quote last updated: 25/04/2024 18:00 |
| Real-time basic market prices of Hong Kong securities are provided by HKEx; a Designated Website authorized by the HKEx Group to provide the Service |