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<Research>Citi: AIA Mgmt Optimistic on Growth Outlook in HK, CN; UFSG to Be Added to LT KPIs
Recommend 17 Positive 33 Negative 14 |
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The management of AIA (01299.HK) is optimistic about the growth prospects of its Hong Kong and China businesses, and provided more clarity on its enhanced capital management policy, Citi Research issued a research report saying. Underlying free surplus generation (UFSG) will become a long-term key performance indicator (KPI), according to the report. Management aims to maintain the ratio of shareholders' view of total capital resources over required capital at above 200%, which is 269% for 2023, and will narrow to 238%, taking into account the remaining US$2.8 billion in the Company's existing US$10 billion repurchase program and the newly announced US$2 billion repurchase program. On free surplus, it was noted that UFSG is considered to be one of the key metrics in management's short-term incentive plan, and should be added to the long-term KPI. Citi Research kept rating on the Company at Buy, with a target price of $100. AAStocks Financial News |
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