Insurance & Reinsurance 02 (Oct 14 - Dec 25)

[winston]

3 Life Insurance Stocks at a Crossroads – Should You Buy? (LNC, MET, PRU)

Using Profit Scanner, we found interesting trends in these three life insurers


Source: Profit Scanner

http://investorplace.com/2016/04/homebu ... v-k6aR96M8

[winston]

JP Morgan's Latest Investment Ratings & TPs for Chinese Insurers (Table)

Stock/ Investment Rating/ Target Price (HK$)
PING AN (02318.HK)/ Overweight/ 75
CHINA LIFE (02628.HK)/ Overweight/ 36
CPIC (02601.HK)/ Overweight/ 50
NCI (01336.HK)/ Overweight/ 45
PICC P&C (02328.HK)/ Underweight/ 12
PICC GROUP (01339.HK)/ Underweight/ 3.2

Source: AAStocks Financial News

[winston]

<Research Report>Deutsche's Latest Ratings, TPs to CN Insurers (Table)

Deutsche Bank, in its report, updated the ratings and target prices to H shares of Chinese insurers:

Stock/Rating/Target price (HK$)

CHINA TAIPING(00966.HK)/Buy/27.4->30.8
NCI(01336.HK)/Buy/33.7->36.2
CHINA RE(01508.HK)/Hold/2.56->2.42
PING AN(02318.HK)/Buy/48.8->51.9
CPIC(02601.HK)/Buy/36.6->39.4
CHINA LIFE(02628.HK)/Buy/27.8->29.9

The research house also listed the ratings and target prices to A shares of Chinese insurers:

Stock/Rating/Target price (RMB)

Ping An Insurance (601318.SH)/Buy/44.1->46.6
New China Life Insurance (601336.SH)/Hold/30.4->32.5
China Pacific Insurance (601601.SH)/Buy/33->35.4
China Life Insurance (601628.SH)/Buy/25.1->26.8

Source: AAStocks Financial News

[winston]

<Research Report>G Sachs's Latest Ratings & TPs for Chinese Insurers (Table)

Goldman Sachs, in the report, listed the latest ratings and target prices for Chinese insurers:

Stock/ Rating/ Target Price (HK$)
CHINA LIFE (02628.HK)/ Buy/ 33.82->26
PING AN (02318.HK)/ Buy (Removed from Conviction Buy List)/ 51.11->46.7
CPIC (02601.HK)/ Neutral-> Sell/ 35.93->33.5
NCI (01336.HK)/ Neutral/ 41.08->34.5
CHINA TAIPING (00966.HK)/ Neutral/ 27.14->21.3
PICC GROUP (01339.HK)/ Neutral/ 4.51-> 4.2
PICC P&C (02328.HK)/ Buy (Included in Conviction Buy List)/ 19.5->19.3

Source: AAStocks Financial News

[winston]

China warns mainland residents against buying insurance products in Hong Kong

Source: Reuters

http://www.thefiscaltimes.com/latestnew ... -Hong-Kong

[winston]

Hong Kong insurers may suffer after China’s industry watchdog warns of risks in buying products in the city

CIRC statement may be designed to defend mainland insurers after a rush to buy Hong Kong life policies last year amid a falling yuan.

Source: SCMP

http://www.scmp.com/business/companies/ ... y-watchdog

[winston]

<Research Report>M Stanley's Latest Ratings & TPs for Chinese Insurers (Table)

Morgan Stanley, in its report, listed the latest target prices and ratings for Chinese insurers:

Stock/ Investment Rating/ Target Price (HK$)
PING AN (02318.HK)/ Overweight/ 71->43
CPIC (02601.HK)/ Overweight/ 46->32
CHINA LIFE (02628.HK)/ Overweight/ 39->20
PICC P&C (02328.HK)/ Equalweight->Overweight/ 15.5->16
CHINA TAIPING (00966.HK)/ Equalweight/ 29->17
CHINA RE (01508.HK)/Equalweight/ 2.68->1.9
PICC GROUP (01339.HK)/ Underweight/ 3.8->3.1
NCI (01336.HK)/ Underweight/ 38->26

Source: AAStocks Financial News

[winston]

Mainland sales crackdown on HK insurers

by Wiki Su

The China Insurance Regulatory Commission will require its local bureaus to investigate and punish onshore sales of offshore insurance products, Caixin reported on its website yesterday.

The insurance regulator issued the order on May 13, after a buying frenzy involving Hong Kong insurance products by mainland clients that lasted a year.

Several Hong Kong insurance companies chose to set up wealth management firms in China. Also, some opted to collaborate with mainland- registered insurance companies in order to sell their offshore insurance products.

Mainland rules require all commercial insurance business to be conducted with the permission of CIRC.

The Hong Kong regulator also has a similar rule that restricts local insurance brokers from selling products outside the SAR.

But it is legal for mainlanders to come to go to Hong Kong by themselves to buy local insurance products.

Any promotional activity conducted by Hong Kong insurers in the mainland is illegal. The local Office of the Commissioner of Insurance is also studying two policies on cross-border purchases of insurance products by mainlanders.

The policies included requiring mainland customers to sign an important information statement to ensure they are clear about deal details.

Separately, OCI will impose anti- money laundry measures that will take effect in the second half.

The moves come as new premium income from mainland visitors amounted to HK$31.6 billion last year.

The market share of mainland clients has risen for seven straight years.

Source: The Standard

[winston]

<Research Report>JPM Expects CN Insurers' Interim Profit to Be Surprising; Top Picks Ping An, China Life

JP Morgan, in its report, said CIRC released the industry data for April 2016, finding out record healthcare premium growth for 4M16 of +90%; strong life-savings product growth +48%; and non-life premium slowdown.

The sector valuation multiple has declined to the trough level close to periods of large equity capital raisings and/or balance sheet stress.

Due to investors' concern on insurers' balance sheet risk, investors have recalibrated earnings expectations to lower levels.

Yet, the research house saw possible upside surprise in the upcoming 1H16 results season from mortality/morbidity profit acceleration; smaller earnings impact from extra liability provisioning; and resilient balance sheet positions.

JP Morgan recommended accumulating life insurers with strong NBV growth. Top picks are PING AN (02318.HK) and CHINA LIFE (02628.HK).

Source: AAStocks Financial News

[winston]

Chinese Curbs Fail to Slow Hong Kong Insurance Buying Frenzy

by Alfred Liu

Transactions let citizens bypass China’s currency controls
Chinese individuals’ purchases surge to $1.7 billion in Q1

Source: Bloomberg

http://www.bloomberg.com/news/articles/ ... yptr=yahoo