[ET Net News Agency, 21 November 2017] HSBC Global Research lifted its target price for
Ping An Insurance (02318) to HK$88 from HK$80, and maintained its "buy" rating.
Ping An hosted an investor day yesterday to discuss further its Fintech transformation
plan unveiled on 14 July 2017. Management also provided additional residual margin
disclosure as well as outlining the quality of its life business versus peers.
The research house cited management indicating that group profitability from
"capital-powered" business could be matched by profitability from "technology-powered"
business over time. HSBC believes this could support a rising dividend pay-out in the
longer term.
In addition, new disclosure indicates residual margin stock has increased to 31% of life
reserves in 2016 from 21% in 2012 as the proportion of long-term protection business has
increased.
HSBC said a life business deep-dive confirms our view of the relative quality of Ping
An's life business versus peers and its ability to maintain competitive advantage. (KL)
|
|
|
|
|
|
|
|
|
|
Super Quote | Detail Quote | Interactive Chart | Transaction | Related News | Related Securities | Company Information | Dividend Records | Short Sell
02318 PING AN
Nominal 
36.000 +0.750 (+2.128%) Others
21/11/2017 17:32
[I-bank focus]HSBC lifts Ping An Insurance (02318) to HK$88
| Remark: | Real time quote last updated: 26/04/2024 13:20 |
| 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 |