[ET Net News Agency, 16 March 2018] Credit Suisse lifted its target price for Ping An
Insurance (02318) to HK$110 from HK$107, and reiterated its "outperform" rating.
The research house said Ping An's life premium was up 17% in February, led by strong
renewal (+44%), outpacing peers. Into March, Ping An is focusing on more profitable
health/CI products (Ping An Fu), by launching premium version and promoting to customers
under tier-1 city biz group. These efforts could hopefully drive VNB.
Looking beyond 1Q, Ping An faces an easier base, and Credit Suisse expects growth to
pick up from 2Q. It estimated 28% earnings growth on strong investment and moderation of
reserve charges. Dividend may also surprise on the upside. (KL)
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02318 PING AN
Nominal 
35.800 +0.550 (+1.560%) Others
16/03/2018 14:12
[I-bank focus]Credit Suisse lifts Ping An (02318) to HK$110
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