Articles from Caixin Global, Caixin Global

Caixin Global

Articles from Caixin Global

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Thematic (Sector/Industry)

<ul><li>Chinese insurance companies’ overseas investments remained flat in 2022, and only half of them made profits on the investments, a recent survey showed.</li><li>Foreign investments in 2022 by Chinese insurers totaled $83.2 billion, about the same as in 2021. The funds were invested mostly in Hong Kong and the U.S., according to the survey of 52 Chinese insurance companies.</li><li>The average return on investments was 1.32%, with a median of 0.22%. Returns were lower than insurers’ returns of 3.76% on total investments at home and abroad. About 54% of the insurers made money on the investments, down 19 percentage points from 2021, the survey showed.</li></ul>

Chinese insurance companies’ overseas investments remained flat in 2022, and only half of them made profits on the investments, a recent survey showed.Foreign investments in 2022 by Chinese insurers totaled $83.2 billion, about the same as in 2021. The funds were invested mostly in Hong Kong and the U.S., according to the survey of 52 Chinese insurance companies.The average return on investments was 1.32%, with a median of 0.22%. Returns were lower than insurers’ returns of 3.76% on total investments at home and abroad. About 54% of the insurers made money on the investments, down 19 percentage points from 2021, the survey showed.

Only Half of Chinese Insurers Made Money Abroad Last Year

Cross Asset Strategy

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CX Daily: China’s Tax System Gets a Digital Upgrade

External broker reports(aggregated public sources), CMB International

CMB International

External broker reports(aggregated public sources)

Incorporated in Hong Kong, supported by the mainland and targeting in global market, CMB International Capital Corporation Limited (“CMBI”) is an integrated financial institution providing comprehensive and professional services. As a wholly-owned subsidiary of China Merchants Bank ("CMB"), by leveraging on the Group’s synergy and coordination in domestic and overseas markets, as well as CMB’s strong resources and outstanding social reputation, CMBI and its subsidiaries have been actively implementing diversified business strategies and set up an overall layout of main business segments including Corporate Finance, Asset Management, Wealth Management, Global Markets and Structured Finance, etc. Adhering to the philosophy of “being clients oriented and increasing our own values by the way of creating value for clients”, CMBI endeavors to provide quality and integrated financial services to institutional, corporate and individual customers both domestic and overseas including Hong Kong IPO sponsorship and underwriting, share placement and rights issue for listed companies, financial advisors, bonds issuance services, asset management, direct investment, wealth management, equity sales and trading, etc.

<ul><li>The 2023 jumpstart performance YTD of Chinese life insurers are divergent according to our channel check.</li><li>While most insurance companies continued suffering from new business declines given the weaker-than-expected pre-sale performance amid COVID outbreaks in Dec 2022, China Life recorded a decent FYP growth thanks to its early launch of pre-sale since Oct 2022.</li><li>We also note that the NBV momentum of CPIC and Ping An elevated substantially since midJan 2023, driven by: 1) enhanced agent productivity on the back of proactive agency reform and 2) consistent strong demands for savings products. </li></ul><p><em>Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.</em></p>

The 2023 jumpstart performance YTD of Chinese life insurers are divergent according to our channel check.While most insurance companies continued suffering from new business declines given the weaker-than-expected pre-sale performance amid COVID outbreaks in Dec 2022, China Life recorded a decent FYP growth thanks to its early launch of pre-sale since Oct 2022.We also note that the NBV momentum of CPIC and Ping An elevated substantially since midJan 2023, driven by: 1) enhanced agent productivity on the back of proactive agency reform and 2) consistent strong demands for savings products. Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

China Insurance – Divergent jumpstart performance among life insurers

Head of Research, IPOs & Placements, Aequitas Research

Sumeet Singh

Head of Research, IPOs & Placements

IPOs and Placements coverage across Asia Pacific

Aequitas Research

We cover all listing across the Asia Pacific along with follow-up placements. As of Dec 2020, our team had covered 539 IPOs with a hit rate of 73.5% and 685 placements with a hit rate of 66.8%.

We combine fundamental bottom-up views with our proprietary quantitative framework to provide a holistic coverage across new listings and placements. Our coverage includes pre-IPO notes before the deal is launched, follow-up analysis once the deal is live and post-listing trading analysis as well.

Equity Capital Markets

Sunshine Insurance Group  Lt / Equity Capital Markets

<ul>
<li>Sunshine Insurance Group (SIG), a life, health and P&amp;C insurance company, raised around US$850m in its HK IPO.</li>
<li>SIG is an integrated insurance provider which offers both life and health (L&amp;H) and property and casualty (P&amp;C) insurance in China.</li>
<li>We have looked at various aspects of the deal in our previous notes. In this note, we will talk about the trading dynamics.</li>
</ul>


Sunshine Insurance Group (SIG), a life, health and P&amp;C insurance company, raised around US$850m in its HK IPO.
SIG is an integrated insurance provider which offers both life and health (L&amp;H) and property and casualty (P&amp;C) insurance in China.
We have looked at various aspects of the deal in our previous notes. In this note, we will talk about the trading dynamics.


Sunshine Insurance Group IPO Trading - No Demand - Still Needs to Correct by 50%

Hong Kong

China Taiping Insurance Holdings Company Ltd., through subsidiaries, underwrites life and property/casualty insurance and reinsurance.

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China Taiping Insurance Hldgs (966 HK)

Only Half of Chinese Insurers Made Money Abroad Last Year

Chinese insurance companies’ overseas investments remained flat in 2022, and only half of them made profits on the investments, a recent survey...

Caixin Global

CX Daily: Hong Kong Targets Young Talent, Tech Sector in Post-Covid Push

Hong Kong /In Depth: Hong Kong targets young talent, tech sector in post-Covid push Soccer /: Accused of bribery, South Korean soccer star...

Caixin Global

CX Daily: China’s Tax System Gets a Digital Upgrade

Tax / Cover Story: China’s tax system gets a digital upgrade Investment banking /: Investment banker Bao Fan is aiding an investigation, China...

Caixin Global

China Insurance – Divergent jumpstart performance among life insurers

The 2023 jumpstart performance YTD of Chinese life insurers are divergent according to our channel check.While most insurance companies continued...

CMB International

Sunshine Insurance Group IPO Trading - No Demand - Still Needs to Correct by 50%

Sunshine Insurance Group (SIG), a life, health and P&C insurance company, raised around US$850m in its HK IPO. In this note, we talk about the...

Sumeet Singh

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52-week Range

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