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.

Thematic (Sector/Industry)

<ul><li>The National Financial Regulatory Administration (NFRA) disclosed 2Q24 insurance funds allocation and respective investment yields for the industry and for life and P&amp;C companies.</li><li>The financial rate of return marginally recovered from troughs in 1Q24 with the comprehensive yields remaining attractive at above 5%, given the prolonged low interest rate cycle.</li><li>We see robust growth of total insurance funds by +11.0% YoY in 2Q24 to RMB30.9tn, on par with total premium growth of +10.5% to RMB3.55tn. </li></ul>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.

The National Financial Regulatory Administration (NFRA) disclosed 2Q24 insurance funds allocation and respective investment yields for the industry and for life and P&amp;C companies.The financial rate of return marginally recovered from troughs in 1Q24 with the comprehensive yields remaining attractive at above 5%, given the prolonged low interest rate cycle.We see robust growth of total insurance funds by +11.0% YoY in 2Q24 to RMB30.9tn, on par with total premium growth of +10.5% to RMB3.55tn. 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 - ILife/P&C Diverged in Allocation; Financial Yields Marginally Recovered in 2Q

<ul><li>Life premiums exhibited resilience on high base in Jun and diverged amid top peers.</li><li>Ping An L&amp;H grew by 14.7% YoY in Jun (vs May: +10.4% YoY) thanks to life and health segments, which expanded +16.2%/+19.7% YoY in Jun (vs May: +10.6%/ +11.0% YoY).</li><li>We regard the premium pick-up a concomitant of the Group’s strategic initiatives on healthcare and elderly care, which have fostered new growth drivers with product mix to be further optimized. </li></ul>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.

Life premiums exhibited resilience on high base in Jun and diverged amid top peers.Ping An L&amp;H grew by 14.7% YoY in Jun (vs May: +10.4% YoY) thanks to life and health segments, which expanded +16.2%/+19.7% YoY in Jun (vs May: +10.6%/ +11.0% YoY).We regard the premium pick-up a concomitant of the Group’s strategic initiatives on healthcare and elderly care, which have fostered new growth drivers with product mix to be further optimized. 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.

Insurance - 6M24 Monthly: Life Prints Better-Than-Expected on High Base; P&C Dragged by Auto Sales

<ul><li>China listed insurers reported monthly premiums in May, showing resilience of top life peers despite a high base under the pricing interest rate (PIR) cut last year.</li><li>P&amp;C growth marginally improved thanks to a sequential rebound in auto and certain lines’ recovery in non-auto segment.</li><li>Chinese regulator recently guided some insurance companies to lower the upper limit of PIR of increasing sum assured whole life plans (IWLPs) to 2.75% (vs now: 3.0%) with an intention to further reduce the cost of liabilities of the insurance industry. </li></ul>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 listed insurers reported monthly premiums in May, showing resilience of top life peers despite a high base under the pricing interest rate (PIR) cut last year.P&amp;C growth marginally improved thanks to a sequential rebound in auto and certain lines’ recovery in non-auto segment.Chinese regulator recently guided some insurance companies to lower the upper limit of PIR of increasing sum assured whole life plans (IWLPs) to 2.75% (vs now: 3.0%) with an intention to further reduce the cost of liabilities of the insurance industry. 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 - 5M24 Monthly: Life Growth Stayed Resilient

<ul><li>Major Chinese insurers disclosed Jan premium figures, falling short of expectations amid the long-debated 2024 jumpstart sales under tightened regulatory scrutiny announced in last Oct.</li><li>Among seven H-share listed insurers, only China Life (2628 HK) and Sunshine Life (6963 HK) reported positive lowsingle digit growth by +2.2%/ +1.5% on a like-for-like basis, whereas the others recorded year-over-year cutbacks.</li><li>Ping An Life (2318 HK) fell by 3.9% YoY, in contrast to double-digit declines of CPIC Life (2601 HK) / New China Life (1336 HK) / PICC Life (1339 HK) at -14.7%/-15.0%/-18.5%, respectively, due to its more-advanced-than-peers agency capability. </li></ul>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.

Major Chinese insurers disclosed Jan premium figures, falling short of expectations amid the long-debated 2024 jumpstart sales under tightened regulatory scrutiny announced in last Oct.Among seven H-share listed insurers, only China Life (2628 HK) and Sunshine Life (6963 HK) reported positive lowsingle digit growth by +2.2%/ +1.5% on a like-for-like basis, whereas the others recorded year-over-year cutbacks.Ping An Life (2318 HK) fell by 3.9% YoY, in contrast to double-digit declines of CPIC Life (2601 HK) / New China Life (1336 HK) / PICC Life (1339 HK) at -14.7%/-15.0%/-18.5%, respectively, due to its more-advanced-than-peers agency capability. 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 – 1M24 life premiums fell short of expectations

<ul><li>Strong savings demand propelled a double-digit growth of cum. personal life premiums, which rose by 10.2% YoY in FY23, for the first time in three years amid the prolonged low-risk appetite.</li><li>Life premiums rose by 12.8% YoY to RMB2.76tn in FY23, posting the highest growth over the past three years although curving down a bit from the 7M23 peak (+15% YoY) after the pricing rate cut.</li><li>On a monthly basis, China Life (2628 HK) and CPIC (2601 HK) were the only two listed insurers turning positive to double-digit premium growth, by +13.0%/+16.7% YoY in Dec 2023, outpacing the industry level of +1.1% YoY.</li></ul>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.

Strong savings demand propelled a double-digit growth of cum. personal life premiums, which rose by 10.2% YoY in FY23, for the first time in three years amid the prolonged low-risk appetite.Life premiums rose by 12.8% YoY to RMB2.76tn in FY23, posting the highest growth over the past three years although curving down a bit from the 7M23 peak (+15% YoY) after the pricing rate cut.On a monthly basis, China Life (2628 HK) and CPIC (2601 HK) were the only two listed insurers turning positive to double-digit premium growth, by +13.0%/+16.7% YoY in Dec 2023, outpacing the industry level of +1.1% YoY.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.

Insurance - Life Premiums up by Double Digits for the First Time in 3 Years

China

Ping An Insurance (Group) Company of China Limited provides a variety of insurance service in China.  The Company writes property, casualty, and life insurance.  Ping An Insurance also offers financial services.

Price Gauge
52-week Range	0.00 - 0.00
Market Cap (USDm)	0.00
P/E	0.00
Dividend (Yield)	0.00

Ping An Insurance (H) (2318 HK)

China Insurance - ILife/P&C Diverged in Allocation; Financial Yields Marginally Recovered in 2Q

The National Financial Regulatory Administration (NFRA) disclosed 2Q24 insurance funds allocation and respective investment yields for the industry...

CMB International

Insurance - 6M24 Monthly: Life Prints Better-Than-Expected on High Base; P&C Dragged by Auto Sales

Ping An L&H grew by 14.7% YoY in Jun (vs May: +10.4% YoY) thanks to life and health segments, which expanded +16.2%/+19.7% YoY in Jun (vs May:...

CMB International

China Insurance - 5M24 Monthly: Life Growth Stayed Resilient

China listed insurers reported monthly premiums in May, showing resilience of top life peers despite a high base under the pricing interest rate...

CMB International

China Insurance – 1M24 life premiums fell short of expectations

Major Chinese insurers disclosed Jan premium figures, falling short of expectations amid the long-debated 2024 jumpstart sales under tightened...

CMB International

Insurance - Life Premiums up by Double Digits for the First Time in 3 Years

Strong savings demand propelled a double-digit growth of cum. personal life premiums, which rose by 10.2% YoY in FY23, for the first time in three...

CMB International

Price Gauge

52-week Range

Market Cap (USDm)

P/E

Dividend (Yield)