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RTNominal up14.520 +0.040 (+0.276%)

09/01/2020 15:24

{I-bank focus}Nomura raises China Life (02628) to HK$25.14

[ET Net News Agency, 9 January 2020] Nomura raised its target price for China Life
Insurance (02628) to HK$25.14 from HK$22.82 and maintained its "buy" rating.
The research house raised its FY2020 NBV (new business value) growth forecast to 11%
from 6%, as China Life's 2020 open year sales should be strong. China Life launched 2020
open year pre-sales in October 20'19, earlier than its key peers; and it achieved its open
year pre-sales target by mid-November 2019, according to guidance.
After pre-sales, the company is now focusing on both savings and protection products,
and thus Nomura expects a slight increase in the NBV margin for FY2020.
In addition, after strong agency force expansion in FY2019, China Life will focus more
on improving agency productivity. Nomura expects a slight agency headcount increase in
FY2020. (KL)

Remark: Real time quote last updated: 29/05/2020 17:58
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