[ET Net News Agency, 22 November 2017] Nomura lifted its target price for China Life
Insurance (02628) to HK$36.99 from HK$33.43, and maintained its "buy" rating.
The research house said the company is the largest life insurer to benefit from
long-term premium growth potential, with CAGR over 15% in the next five years for the
sector, driven by an aging population and consumption upgrade in China, both of which
occurred in Japan after the 1970s.
Nomura expects China Life's NBV to slow, but remain solid, despite the near-term
uncertainty on 2018 open year sales from recent regulations, effective since 1 October
2017. However, it expect NBV growth to remain in double-digits at 11% y-y in FY2018, on
the back of agent number growth and business quality improvement. (KL)
|
|
|
|
|
|
|
|
|
|
Super Quote | Detail Quote | Interactive Chart | Transaction | Related News | Related Securities | Company Information | Dividend Records | Short Sell
02628 CHINA LIFE
Nominal 
10.300 +0.180 (+1.779%) Others
22/11/2017 11:56
[I-bank focus]Nomura lifts China Life (02628) to HK$36.99
| Remark: | Real time quote last updated: 26/04/2024 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 |