AIA Group 1299 02 (Jun 20 - Dec 27)

[winston]

not vested

<Research>UBS Forecasts Accelerated Growth in AIA (01299.HK) 3Q VNB w/ Rating Buy

UBS released a research report expecting AIA (01299.HK) to announce its 3Q25 results on 31 October, and estimating its 3Q25 VNB to increase by 18%/ 17% YoY on AER/ CER basis each, accelerating from 1H25 growth rates of 16%/ 14%.

The broker believed that this stronger growth is primarily driven by a robust rebound in the Chinese market.

UBS estimated that AIA's 2H25 embedded value (EV) will hike by 10% HoH (compared to a 2.6% HoH increase in 1H25).

Based on the latest macroeconomic environment, the broker made minor adjustments to its profit and EV projections, and kept its target price for AIA at $88, with rating at Buy.

Related News: M Stanley Envisions AIA's 3Q VNB to Rise 15% YoY on CER Basis

Source: AAStocks Financial News

http://www.aastocks.com/en/stocks/news/ ... -news/AAFN

[winston]

not vested

<Research>M Stanley Envisions AIA's 3Q VNB to Rise 15% YoY on CER Basis

Morgan Stanley has released a research report forecasting that AIA's (01299.HK) 3Q25 value of new business (VNB) will rise by 15% YoY on a constant exchange rate (CER) basis, continuing the momentum of a 14% YoY increase in 1H25.

The broker anticipated the Hong Kong and Thailand markets, to continue serving as an engine for AIA's growth.

Specifically, the Hong Kong market is expected to achieve a 20% surge in VNB on a CER basis in 3Q25 due to the launch of popular new participating products.

Related News: UBS Forecasts Accelerated Growth in AIA (01299.HK) 3Q VNB w/ Rating Buy

AIA was given an Overweight rating and a target price of HKD96.

Source: AAStocks Financial News

http://www.aastocks.com/en/stocks/news/ ... -news/AAFN

[winston]

not vested

<Hindsight>Brokers' Latest TPs/ Opinions for AIA Post-3Q Operational Data Ann

Broker│ Rating│ TP (HKD)
JPMorgan│Overweight│105
Citi│Buy│99
Morgan Stanley│Overweight│96
UBS│Buy│88
Goldman Sachs│Buy│85

Broker│ Opinion

JPMorgan│ Quarterly VONB hiked 27% YoY, confirming accelerated business growth

Citi│ Quarterly VONB significantly beat expectation, driven by sales and new business value margin

Morgan Stanley│ Quarterly results substantially beat forecasts, propelled by Hong Kong and China markets

UBS│ Quarterly results were strong

Goldman Sachs│ Results significantly beat projections, fueled by growth in Hong Kong and China operations

Source: AASTOCKS Financial News

http://www.aastocks.com/en/stocks/analy ... stock-news

[winston]

More upside to come

Main beneficiary of Hong Kong's 'Par' product illustrative rate cap policy, with strong demand for its Global Flexi product to provide upside to Hong Kong business growth in 4Q25F

Improving China market outlook, with accelerating Value of New Business (VONB) contribution from new geographic expansion areas and an alleviating economic assumption impact, bodes well for growth in FY26F

Moderate Value of New Business (VONB) margin expansion is expected, backed by persistent demand for protection and critical illness products

Rollover valuation base to FY26F and raise TP to HKD103. AIA remains our top pick within HK/China insurance space. Reiterate BUY.

Source: DBS

https://www.dbs.com/insightsdirect/comp ... ecid=28966