AIA will release its operational data for the third quarter of 2024 at the end of this month, with the group's new business value expected to increase by 14% year-on-year based on substantial exchange rates.
According to the Zhongtong Finance APP, Bank of America Securities has issued a research report stating that the target price for AIA (01299) is HKD 92.2, maintaining a 'buy' rating. It is reported that AIA will announce its operational data for the third quarter of 2024 at the end of this month. The bank expects the group's new business value to increase by 14% year-on-year based on substantial exchange rates. Due to the depreciation of the US dollar, if calculated at a fixed exchange rate, it would grow by 13% year-on-year. The market, on the other hand, expects a year-on-year growth of 13% and 12% for the third quarter.
The bank expects that all major markets of AIA will achieve year-on-year positive growth in the third quarter, reflecting the company's resilience and balanced growth. It is expected that the overall new business value in the Hong Kong business will increase by 14% year-on-year in the third quarter of this year. The growth of local business in the third quarter is expected to exceed the growth of MCV business, with MCV business expected to grow by 10% year-on-year.
