In today’s briefing:
- Ping An Insurance – Recent Profit Growth Is Weak, Industry Aggregates Do Not Suggest a Change
- AUCTUS ON FRIDAY – 16/02/2024
Ping An Insurance – Recent Profit Growth Is Weak, Industry Aggregates Do Not Suggest a Change
- China insurance sector may seem like there is strong growth prospects due the population, but relatively long term data on insurance premium growth is not robust in recent years.
- Aggregate impairment losses on assets of insurance companies have been soaring in recent years, well higher than in the GFC, which can continue with weak CRE, investments.
- Ping An Insurance has seen sharp fall in operating income in the past 2 quarters, with levels near quarterly lows in the past five years. Lower rates may hurt further.
AUCTUS ON FRIDAY – 16/02/2024
- ADX Energy (ADX AU) C ; target price of £A$0.65 per share: Drilling update in Austria – The well site construction at the Welchau-1 drill site is complete.
- The drilling rig is expected to become available to ADX on 14 February. The rig move and rig assembly will take ~6 days after rig release.
- Drilling operations are expected to commence on 20 February with a duration of ~39 days.
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