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2026-11-05 11:05:04 The NBV of Chinese life insurers charted moderate growth in 9M26, in line, reflecting a relatively high base and regulatory disruptions in bancassurance, Citi said in a report. The broker stayed cautiously optimistic on growth in the life sector next year, believing that the continued structural shift in household asset allocation and the restructuring of bancassurance channels will provide support. For the P&C sector, despite higher natural disaster losses, the CoRs of PING AN (02318.HK), CPIC (02601.HK) and PICC GROUP (01339.HK) improved by 1.4 ppts YoY, 1.4 ppts YoY and 0.3 ppts YoY, respectively, to 95.6%, 96.2% and 95.8% in 9M26. The broker expected the regulator-driven upcycle in the P&C industry to continue, with CoRs likely to improve further next year. Given economic uncertainties, the broker continued to prefer defensive plays, namely companies with high dividend yields and progressive dividend policies, including PING AN, CPIC and PICC P&C (02328.HK). ~ AASTOCKS Financial News Website: www.aastocks.com | |