Glonghui, May 13 | According to the J.P. Morgan Chase report, as the new business value recovery in the first quarter of 2024 was faster than expected, it reflects that the new business value (NBV) will be stronger this year, and the new business value and reserve revisions anticipated by the market will be driven. The bank readjusted the ranking of insurance stocks and proposed joining mainland life insurance companies. According to the report, life insurance stocks listed in Hong Kong are cheap, with dividend rates of 6% to 8%. New focus on profitability and solvency capital management should also drive better stock performance. The bank chose Ping An of China because it is the only insurance company that proposes to pay an interim interest rate. J.P. Morgan upgraded China Taibao's rating from “reduced holdings” to “increased holdings,” and raised the rating of Xinhua Insurance from “reduced holdings” to “neutral.” At the same time, the bank maintained a cautious view on the non-life insurance underwriting performance in the first quarter of this year, and was disappointed with the first quarter results of Human Insurance. The bank listed its order for mainland insurance stocks, with China Ping An as the first choice, followed by China Life Insurance, China Taibao, Xinhua Insurance, China People's Insurance Group, and finally China Financial Insurance.