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<Research>M Stanley Sees Extremely Strong Earnings, VNB Growth in 3Q for CN Insurers
Recommend 41 Positive 58 Negative 20 |
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Morgan Stanley released a research report believing that Chinese insurers will report impressive 3Q24 results across all key metrics, mainly driven by the stock market rebound in September, with most companies posting YoY growth in 3Q24 earnings of more than 60%. Peers' VNB growth is also likely to be strong, exceeding the 50% level on average. Morgan Stanley estimated that 3Q24 net profit growth for Chinese insurers could reach 29-102%, with NCI (01336.HK) (3Q24 net profit YoY growth expected to be 102%), CHINA LIFE (02628.HK) (3Q24 net profit YoY growth expected to be 90%), PICC GROUP (01339.HK) (3Q24 net profit YoY growth expected to be 73%) and CPIC (02601.HK) (3Q24 net profit YoY growth expected to be 73%) being the fastest growing companies. AAStocks Financial News |
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