[ET Net News Agency, 1 November 2018] HSBC Global Research lowered its target price for
China Life Insurance (02628) to HK$20 from HK$23, and maintained its "buy" rating.
The research house said the key takeaways from the analyst call on 26 October were: (1)
China Life will continue to focus on "making steady progress" through high-quality
development; (2) Management indicated that the contribution of regular premium and
protection new business was higher at 9-month than at 1H; (3) The monthly average number
of agents selling protection-oriented products increased 50% year-on-year; (4) Management
expect life reserves releases to contribute RMB4bn to FY2018 earnings; and (5) China Life
is aiming to invest up to 10% of assets in equities.
HSBC reduced its life NBV estimates by 5-8% over 2018-20 mainly due to 10-11% lower life
FYP which in turn is a function of the miss versus our expectations at 3Q and lower
estimates for 4Q. (KL)
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Super Quote | Detail Quote | Interactive Chart | Transaction | Related News | Related Securities | Company Information | Dividend Records | Short Sell
02628 CHINA LIFE
Nominal 
10.060 -0.060 (-0.593%) Others
01/11/2018 11:47
[I-bank focus]HSBC trims China Life (02628) to HK$20
| Remark: | Real time quote last updated: 26/04/2024 10:26 |
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