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<Research>Nomura Finds AIA (01299.HK) 1Q VONB a Pleasant Surprise
Recommend 22 Positive 45 Negative 22 |
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Nomura noted in a research note that AIA (01299.HK) reported a pleasant surprise in 1Q24, with Value of New Business (VONB) growth of 27% at actual exchange rates (AER) and 31% at constant exchange rates (CER), which exceeded the broker's expectations by around 6%. The broker noted that AIA's Hong Kong and Mainland China businesses led the way in terms of growth, with double-digit growth in VONB across all market segments. Company management also announced a new capital management policy to increase annual distributions to shareholders through a combination of dividends and share buybacks, which was also a positive surprise. Nomura rated AIA Buy with a target price of $90.88. AAStocks Financial News |
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