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<Research>DBS Rates PING AN as Buy w/ TP HKD69 on Robust 1H VNB Growth
Recommend 45 Positive 77 Negative 26 |
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DBS Group Research has issued a report anticipating that PING AN (02318.HK)'s 1H25 value of new business (VNB) would grow further on the continued strong sales of dividend-type products, especially through bancassurance channels, with a mild enhancement in marginal profit rates. In addition, PING AN's investment income and asset portfolio outlook are optimistic. The broker estimated the combined ratio of the property and casualty (P&C) business to improve sharply YoY in 1H25 and Ping An Bank to continue adjusting its business. DBS Group Research reiterated a Buy rating on PING AN with a target price kept at HKD69, emphasizing that the company remained its top pick among Chinese insurance stocks. AAStocks Financial News |
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