[ET Net News Agency, 17 September 2019] Nomura lowered its target price for AIA Group
(01299) to HK$75.91 from HK$76.01 and maintained its "neutral" rating.
The research house cut its FY2019 overall VONB (Value of new business) growth forecast
for AIA to 16% from 18% on constant exchange rate basis (implying 2H VONB growth of 13% on
constant exchange rate basis), mainly as it cut AIA's FY2019 HK VONB growth forecast to 9%
from 17%.
Nomura attributed the 2H growth slowdown to the ongoing HK protests and growing
competition in the HK insurance market. At the same time, we lift our FY19-21F China VONB
growth forecasts to 40% from 38%, following the recent openings of AIA's Hebei & Tianjin
branches. (KL)
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01299 AIA
Nominal 
54.000 +2.450 (+4.753%) Others
17/09/2019 16:02
{I-bank focus}Nomura tweaks AIA Group (01299) to HK$75.91
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