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RTNominal up19.080 +0.440 (+2.361%)

07/05/2020 11:03

Mizuho Securities starts China Life (02628) at HK$16.3

[ET Net News Agency, 7 May 2020] Mizuho Securities initiated coverage on China Life
Insurance (02628) with a "neutral" rating and a target price of HK$16.3.
The research house said China Life is a key beneficiary of the long-term growth
opportunities in China's life insurance business, on the back of China's consistent
economic growth, rising household income, favorable demographics, and low insurance
However, an economic slowdown post the COVID-19 outbreak is likely to cause unemployment
and uncertainties about household income growth. Mizuho expects that investors to be more
conservative in buying life insurance products which are usually associated with long-term
Mizuho therefore is conservative on China Life's premium growth in the near term and
expects 2020 NPAT to drop by 31%, given a high base in 2019 driven by particularly strong
investment income. (KL)

Remark: Real time quote last updated: 23/10/2020 17:59
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