Ping An 2318

[winston]

DJ MARKET TALK: Ping An Falls 1.9%; But Retreat A Buy Chance - UOB

0948 [Dow Jones] Ping An (2318.HK) is down 1.9% at HK$62.15 despite its mostly in-line FY11 results; one likely concern for investors is that its solvency ratio, which measures an insurer's ability to make payments on outstanding policies, fell to 167% from 198% a year earlier, vs a regulatory requirement of above 150%.

Still, UOB KayHian believes the solvency margin position will improve from the issuance of convertible bonds and rally in the A-share market, which will increase the carrying value of equity investments.

It keeps its Buy rating, HK$87.50 target price. The house believes the share price pullback post-results "is an opportunity to accumulate," as most of Ping An's business segments showed solid growth last year except brokerage and investment return, though both are likely to improve in 2012 as the A-share market rallies.

Source: Dow Jones Newswire

[winston]

Only 2 - 3 years then what ?

*DJ Ping An: Group Has Sufficient Capital For Next 2-3 Years

Source: Dow Jones Newswwre

[winston]

not vested

DJ MARKET TALK: CS Ups Ping An Target To HK$82.5; Keeps Outperform

1542 [Dow Jones] STOCK CALL: Credit Suisse raises Ping An (2318.HK) target price to HK$82.50 from HK$80.00, as it revises up the company's eanings forecasts by 6%-8%, following a detailed review of Ping An's unit Shenzhen Development Bank (000001.SZ);

It keeps Ping An at Outperform. CS believes "substantial synergies" exist following the merger of SDB with Ping An Bank, namely: cost synergies of CNY1 billion based on system and back-office integration, revenue synergies of CNY2 billion on higher fee income growth through network expansion, branch productivity improvement and cross-selling/customer acquisition, as well as net interest margin expansion through better deposit mix.

Ping An is beaten down 5.5% at HK$53.40 amid broad market weakness.


Source: Dow Jones Newswire

Source: Dow Jones Newswire

[winston]

not vested

PING AN (02318) cut to Neutral, TP lowered to $72 by HSBC

HSBC believes PING AN (02318) is the strongest among Chinese insurers, awaiting a better entry opportunity, adding the downgrade of rating is based on valuation.

Due to the strong stock price since early 2012, HSBC cut PING AN rating from Overweight to Neutral, with target price lowered from $73 to $72.

HSBC adds A/H share of PING AN (02318) offer 34%/19% potential returns with a target price of RMB56/HK$72.

HSBC expects PING AN's interim result will reflect 3% new business value growth, 94.2% combined ratio, 1% net growth and 191% group solvency ratio. Embedded value per share is $33.4.


Source: AAStocks Financial News

[winston]

not vested

Banking boosts Ping An earnings

Ping An Insurance (Group) (2318) posted better-than-estimated 9.4 percent growth in first half net earnings to 14 billion yuan (HK$17.09 billion), due to a higher profit contribution from its banking operations.

The insurer earned a net profit of 3.5 billion yuan from its banking assets, contributed mainly by Ping An Bank and Shenzhen Development Bank.

Ping An holds a 52.38 percent stake in SDB after a takeover in July, 2011.

Loan extension of the new combined banking operation rose 10 percent year on year to 682 billion yuan in the first half.

The non-performing loan ratio widened to 0.73 percent as of June 30, from 0.53 percent on December 31.

Ping An Insurance saw 4 percent growth in net profit from its life insurance division and 2 percent from its property and casualty division.

But the combined ratio of the insurer - a measurement of profitability - rose to 93.1 percent from 92.9 percent a year ago.

A figure below 100 percent indicates the company is making underwriting profit, while above 100 percent means claim payments are outstripping premium income.

Ping An shares rose 0.3 percent to close at HK$60.05 yesterday.


http://www.thestandard.com.hk/news_deta ... 20824&fc=8

[winston]

Ping An diversifies business with $21b elderly complex

Ping An Insurance (Group) Co (2318) is investing 17 billion yuan (HK$20.9 billion) to build a complex for the elderly, in a bid to diversify from the insurance business.

The complex, located in Tongxiang, Zhejiang province, covers a gross floor area of 1.5 million square meters, the official Shanghai Securities News reported yesterday.

This is the first such project undertaken by the country's second-largest insurer. It will include combined villas, along with recreation, medical service and training facilities.

Clients will be able to either lease or buy a unit within the complex. All investment for the project will be come from internal sources. Under current rules, insurers are not allowed to use capital generated by their core business to build property and sell them for profit.

Ping An plans to undertake similar projects in other areas of the Yangtze River Delta and later expand to the Pearl River Delta and Hainan.

The Tongxiang complex is expected to boost Ping An's earnings as its business will have strong synergy with insurance sales.

Ping An lags behind its rivals on building projects for the elderly. China Life Insurance (2628), New China Life Insurance (1336), Taikang Life Insurance and Union Life Insurance have already tapped into such markets.


http://www.thestandard.com.hk/news_deta ... 20925&fc=2

[winston]

not vested

DJ MARKET TALK: Ping An Insurance Down 4.7%; Weak 3Q Earnings Eyed

0655 GMT [Dow Jones] Ping An Insurance (601318.SH) is down 4.7% at CNY37.89 in active trade, on expectations of weak 3Q earnings due Tuesday.

"There are expectations of weak earnings, after two other insurers, China Life Insurance Co. (601628.SH) and China Pacific Insurance (601601.SH) both reported sharp declines in their 3Q net profit.

Their investment income has dragged earnings because of the sluggishness in the A-share market in recent months," says Wei Haipeng, an analyst at Xiangcai Securities.

Shares of Ping An are declining for the fifth straight session. It has lost 5.9% in the previous four sessions.


Source: Dow Jones & Company, Inc.

[winston]

not vested

PING AN (02318.HK)'s life insurance premium up 8% for Jan - Oct with property insurance income jumping 20%

PING AN (02318.HK) announced that the accumulated gross premium income of our subsidiaries, namely Ping An Life Insurance Company of China, Ltd., Ping An Property & Casualty Insurance Company of
China, Ltd., Ping An Health Insurance Company of China, Ltd. and Ping An Annuity Insurance Company of China, Ltd., for the period from January 1, 2012 to October 31, 2012 were RMB109.792 billion, RMB80.991 billion, RMB181 million and RMB5.123 billion, respectively, up 8%, 19.6%, 78.8% and 17.4% year-on-year.


Source: AAStocks Financial News

[winston]

not vested

HSBC IN TALKS OVER SALE OF PING AN STAKE

HSBC is considering selling its stake in Ping An Insurance, China's second-biggest insurer by assets, as part of its global drive to improve profitability.

The bank's 15.6 per cent stake in Ping An is worth $9.5bn.

http://edition.cnn.com/2012/11/19/busin ... index.html

[winston]

Thai firm in lead for Ping An stake

Thailand-based Chia Tai Group has confirmed it will buy the 1.23 billion shares of Ping An Insurance (2318) from HSBC Holdings (0005) for about HK$60 each.

Europe's largest bank is also in talks with China Investment Corp to offload its stake in the mainland's second-largest insurer.

The proposed price offer represents a 4 percent premium compared to Ping An's closing price of HK$57.75 yesterday. The stock slipped 1.2 percent after closing 1.93 percent on Monday.

The Thai food-cum- telecoms conglomerate will need financing to buy HSBC's 15.57 percent stake in Ping An for HK$73.8 billion.

However, the deal is likely to net HSBC only US$3 billion (HK$23.40 billion) in pre-tax profit - just half the expected US$6.5 billion. This is due to the diluted placement as well as the drop in Ping An's stock price - down almost 12 percent in the past six months.

Meanwhile, Dow Jones Newswires reported that HSBC had approached CIC to sell the Ping An stake at possibly a higher premium.

http://www.thestandard.com.hk/news_deta ... 21121&fc=4