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China Life Insurance (02628.HK): The qualifications of directors Liu Hui and Ruan Qi were approved by the General Financial Supervisory Authority
Gelonghui, May 23丨China Life Insurance (02628.HK) issued an announcement. The company recently received approval from the General Financial Supervisory Authority regarding the qualifications of Ms. Liu Hui and Mr. Ruan Qi. According to this approval, the Financial Supervisory Authority has approved the qualifications of Ms. Liu Hui and Mr. Ruan Qi as company directors. The above positions will all take effect from May 17, 2024. Since the same day, Ms. Liu Hui has been a member of the Board's Strategy and Asset Liability Management Committee, and Mr. Ruan Qi has served as a member of the Board's Risk Management and Consumer Rights Protection Committee.
Changes in Hong Kong stocks | Domestic insurance stocks continue to decline recently, and new insurance orders face high base growth pressure, and the core constraint is still hidden concerns about interest spreads and losses
Domestic insurance stocks continued their recent decline. As of press release, Xinhua Insurance (01336) fell 2.71% to HK$17.2; China Life (02628) fell 2.42% to HK$12.12; and China Taibao (02601) fell 0.93% to HK$21.3.
Big Bank Ratings丨Jefferies: Predicting mixed results for China's life insurance stocks in the next quarter, favoring Ping An of China
Jefferies released a report saying that China's life insurance stocks have risen 20% to 40% since this year, benefiting from stabilizing interest rates and improving market sentiment. However, the bank is wary of the remaining structural challenges in the industry and urges investors to remain selective. The industry's profit for the next quarter may improve year over year, but the value of the new business is facing a high base. The bank predicts that China's life insurance stocks will perform mixed in the next quarter. The low base of seasonal dividend income and stock profit will drive the quarterly and yearly recovery of investment income and profits, but the high base from May to July will drag down negative growth in the value of new businesses. The bank favors Ping An of China, which is based on lower valuations, stronger underwriting profitability and investment
Nomura Adjusts China Life Insurance's Price Target to HK$16.85 From HK$14.98, Keeps at Buy
03:00 AM EDT, 05/22/2024 (MT Newswires) -- Nomura Adjusts China Life Insurance's Price Target to HK$16.85 From HK$14.98, Keeps at Buy Price (HKD): $12.44, Change: $+0.12, Percent Change: +0.97%
China Merchants Securities: In April, the premium income of listed insurers was steady, and the asset side ushered in triple catalysis
Recently, listed insurers disclosed the original insurance premium income from January to April 2024. The monthly increase in life insurance premiums of various companies in April was mainly driven by renewal, and the value performance may be better than expected; the growth rate of financial insurance premiums is not expected to be due to differences in the auto insurance business.
Market Still Lacking Some Conviction On New China Life Insurance Company Ltd. (SHSE:601336)
With a price-to-earnings (or "P/E") ratio of 16.2x New China Life Insurance Company Ltd. (SHSE:601336) may be sending very bullish signals at the moment, given that almost half of all companies in Chi
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