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According to a Jefferies report, Chinese insurers achieved a strong rebound in 3Q on the back of rising sales and an active stock market. However, structural challenges remain unresolved, and the industry will face a significant challenge posed by a high base of new business value (NBV) and earnings next year.The broker currentl...
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According to a report from CLSA, most Chinese insurers have announced their 3Q results, with which the broker noted that the 1-3Q earnings growth of insurers under its coverage ranged from 36% to 174%, mainly driven by investment income, aligning with expectations.In terms of core insurance performance, PICC GROUP (01339.HK), CH...
Recommend
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CHINA LIFE (02628.HK) logged a strong net profit for 9M24, JP Morgan said in its report. The 3Q24 results confirmed that the robust stock market rebound in September supported an earnings beat, which was ahead of full-year FY2024E net profit consensus. The broker rated CHINA LIFE as Overweight with a target price of $22 for its ...
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CHINA LIFE (02628.HK)'s restated 1Q24-3Q24 VONB grew 25% YoY, in line with UBS' expectation, while net profit surged 1.74x YoY to RMB105 billion, at the mid-point of the range of 1.65x-1.85x EPS growth forecasts, higher than the market's full-year forecast of RMB80 billion, UBS released a research report saying. In a...
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CHINA LIFE (02628.HK) achieved the best earnings growth among its peers in 1-3Q, with 3Q net profit reaching RMB66.2 billion on the stock market rebound, compared to a loss of RMB6 billion in the same period last year, Morgan Stanley wrote in its report.In addition, CHINA LIFE's net profit for 1-3Q amounted to RMB104.5 billi...
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