＜Research＞CICC: Life Insurers Keeps High Growth Momentum for Interim Term VONB w/ Sector Top Pick CPIC

　　Chinese insurers' 2024 interim results will be announced successively in mid-August, CICC released a research report saying.

　　CICC forecasted 1H24 Chinese insurance net profit to fall by 1.6% YoY, representing a YoY improvement compared with 1Q24 earnings, while life insurance earnings' YoY performance was better than that of property insurance.

　　Related NewsUBS: PING AN CB Issuance Not Complete Surprise; CHINA LIFE Core Solvency Highest Among Sector

　　Life insurance VONB continued its high growth trend under the comparable caliber. CICC forecasted that 1H24 VONB of CHINA TAIPING (00966.HK) -0.010 (-0.124%) Short selling $259.71K; Ratio 1.750% / CPIC (02601.HK) +0.600 (+2.948%) Short selling $19.53M; Ratio 18.035% / NCI (01336.HK) +0.100 (+0.663%) Short selling $1.71M; Ratio 8.147% / CHINA LIFE (02628.HK) +0.080 (+0.719%) Short selling $22.78M; Ratio 30.046% / PING AN (02318.HK) +0.200 (+0.583%) Short selling $207.02M; Ratio 31.891% will grow at 66%/ 28.5%/18%/ 14%/ 12% YoY under the comparable caliber of each company, while CHINA TAIPING and CPIC maintained their leading advantages.

　　CICC's top pick is CPIC, with rating at Outperform and a target price of $30.2.

　　(HK stocks quote is delayed for at least 15 mins.Short Selling Data as at 2024-07-18 12:25.)

　　AAStocks Financial News