Latest Search
Quote
| Back Zoom + Zoom - | ||||
|
<Research>JPM Top Picks CHINA LIFE, PING AN Among CN Insurers
Recommend 53 Positive 95 Negative 32 |
||||
|
||||
|
During the quarterly earnings reporting season, JPMorgan compared the two major insurance markets in Asia, namely India and China, which would be useful in the broker’s view. Chinese insurers displayed strong results performance, with three companies issuing positive profit alerts, leading to upward revisions in market consensus. In contrast, the performance of Indian private insurers was mixed. JPMorgan highlighted three key investment themes: a preference for SOEs over POEs; a preference for India over China in the non-life sector; and opportunities in underperformers YTD. Top picks included CHINA LIFE (02628.HK), LIC, PING AN (02318.HK), and GIC Re. JPMorgan stated that Chinese insurers trade on earnings revisions. After a strong rise so far this year, the sector is currently trading at 7x FY2025E consensus P/E, with a dividend yield of 4%, which JPMorgan finds attractive. Companies like China Life announced strong net profit expectations for 9M25, surpassing the full-year consensus. Therefore, JPMorgan expected further upward revisions in earnings and dividend forecasts, providing a catalyst for stock prices. Additionally, ongoing policy support should help enhance product margins and diversify income sources. JPMorgan's top picks for Overweight were China Life and Ping An. AASTOCKS Financial News Website: www.aastocks.com |
||||
Copied to Clipboard
 |
||||
