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花旗:维持友邦保险(01299)“买入”评级 目标价99港元

Citi: Maintains a "buy" rating on aia (01299) with a target price of HK$99.

Zhitong Finance ·  Oct 31, 2024 11:02  · Ratings

In the first three quarters of this year, the new business value of aia increased by 22% year-on-year based on a fixed exchange rate benchmark.

According to reports from the iStock News app, Citigroup released a research report stating that it maintains a "buy" rating for aia (01299) with a target price of 99 Hong Kong dollars.

The report mentioned that aia maintained resilience in the new business value in the third quarter, rising by 17% based on the actual exchange rate, higher than the bank's forecast of 13%, driven by a 14% year-on-year growth in Annualized New Premiums (ANP) and a 1 percentage point increase in profit margin. In the first three quarters of this year, the group's new business value increased by 22% year-on-year based on a fixed exchange rate benchmark.

Citigroup stated that although aia withdrew some products early before the repricing of the entire industry in China, the comparison base in the third quarter was solid. The new business value in China in the third quarter, calculated at the actual exchange rate, still recorded a 9% growth. In addition, benefiting from the new business value growth of Mainland China Visitors (MCV) by 28% and 20% year-on-year, the Hong Kong market achieved a strong year-on-year growth of 24% in the third quarter, surpassing the bank's forecast of 20%, indicating that Hong Kong remains the group's core growth engine.

The translation is provided by third-party software.


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