AIA (01299) rose nearly 4%. As of press release, it was up 3.63% to HK$48.5, with a turnover of HK$1,703 billion.
The Zhitong Finance App learned that AIA (01299) rose nearly 4%. As of press release, it had risen 3.63% to HK$48.5, with a turnover of HK$1,703 billion.
According to the news, recently the Independent Commission Against Corruption and the Insurance Authority joined forces to take joint action to arrest an agent and a referrer on suspicion of selling insurance policies to mainland customers without a license. Citi believes that this action will not affect the Hong Kong insurance industry's Mainland Visitors to Hong Kong (MCV) business. According to the report, although sales growth in brokerage channels has slowed, due to the low profit margins of brokerage channels, the impact on new business value should be very limited.
Furthermore, AIA will announce the first quarter results of 2024 at the end of this month. Nomura expects its new business to be worth $1,255 billion in the first quarter, up 20% in real exchange rates and 23% at fixed exchange rates. UBS expects the value of new business (VNB) to increase by 20% and 23%, respectively, based on the actual exchange rate and fixed exchange rate, while the market expects an increase of 19% and 22%. Damo, on the other hand, expects AIA Insurance's new business value in the first quarter based on the actual exchange rate, to increase 19% year over year.