[ET Net News Agency, 5 November 2019] HSBC Global Research raised its target price for
China Life (02628) to HK$22.5 from HK$21.5 and maintained its "hold" rating.
The research house said China Life is the largest Chinese life insurer with a 20% market
share, offering exposure to China's growing life insurance market.
HSBC's estimated 12% life new business value growth over the next three years due to a
slowdown in agency growth and gradually shifting towards higher-quality development. In
addition, its 44% stake in China Guangfa Bank has created some uncertainty about its
bancassurance strategy and exposes shareholders to rising bank NPLs, while its Tier-1 SOE
status may require it to perform social duties. (KL)
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02628 CHINA LIFE
Nominal 
10.140 +0.100 (+0.996%) Research Report
05/11/2019 09:36
{I-bank focus}HSBC raises China Life (02628) to HK$22.5
| Remark: | Real time quote last updated: 25/04/2024 12:29 |
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