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According to a Jefferies report, Chinese insurers achieved a strong rebound in 3Q on the back of rising sales and an active stock market. However, structural challenges remain unresolved, and the industry will face a significant challenge posed by a high base of new business value (NBV) and earnings next year.The broker currentl...
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According to a report from CLSA, most Chinese insurers have announced their 3Q results, with which the broker noted that the 1-3Q earnings growth of insurers under its coverage ranged from 36% to 174%, mainly driven by investment income, aligning with expectations.In terms of core insurance performance, PICC GROUP (01339.HK), CH...
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PICC GROUP (01339.HK) announced that according to PRC Accounting Standards for Business Enterprises, the total operating income for the first three quarters ending September was RMB469.58 billion, up 12.2% YoY. It recorded a net profit surge of 77.2% YoY to RMB36.33 billion. Insurance revenue gained 6.1% YoY to RMB403.765 billio...
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China's National Administration of Financial Regulation (NAFR) recently issued the Notice on Matters Concerning the Vigorous Development of Commercial Insurance Annuity, proposing to further expand the pilot for commercial pension business. In accordance with the principle of “enterprise by enterprise”, more qual...
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Hong Kong stocks boomed today. The HSI opened 26 points higher and once peaked at 20,942 with a surge of 443 points after midday. It concluded the day up 261 points, or 1.3%, at 20,760. The HSCEI hiked 115 points, or 1.6%, to close at 7,478. The HSTECH grew 83 points, or 1.9%, closing at 4,605. The total market turnover for the ...
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