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<Research>G Sachs Reiterates Buy on AIA/ PRU/ FWD; HK-Listed Insurers' 1Q Results Focus on CN Visitor Demand
Recommend 21 Positive 21 Negative 6 |
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AIA (01299.HK), PRU (02378.HK), and FWD (01828.HK) are set to announce their 1Q26 operating data on April 30, according to a report from Goldman Sachs. In Goldman Sachs' estimation, AIA's value of new business (VONB) would have grown by 16% YoY on an actual exchange rate (AER) basis to USD1.739 billion, PRU's new business profit (NBP) would have increased by 14% YoY on an AER basis to USD695 million, and FWD's new business value (NBV) would have seen single-digit growth in 1Q26. Goldman Sachs also expects AIA, PRU, and FWD to continue delivering double-digit growth in new business value in the Hong Kong market in FY26, given the sustained demand from Mainland China Visitors (MCV). Visitor arrivals in 1Q26 rose by 20% YoY, higher than the 11% increase for the entire year of 2025, which should drive solid growth in the number of new policies. The broker has kept a Buy rating on AIA, PRU, and FWD, with unchanged target prices of HKD97, HKD151, and HKD43, respectively. Auto-translated by AI AASTOCKS Financial News |
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