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<Research>M Stanley Keeps Positive Outlook on Insurers' Full-Yr Results; Focuses on Sales Early Next Yr
Recommend 43 Positive 69 Negative 19 |
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Morgan Stanley said in its report that the insurers under its coverage posted excellent net profits and robust life insurance sales growth for 3Q25, with both AIA (01299.HK) and PING AN (02318.HK) beating expectations. The broker maintained a positive view on the insurance sector's full-year performance and viewed the sales campaigns early next year as a key driver to pay close attention to. According to the report, all major insurers achieved remarkable quarterly earnings growth despite a high base thanks to an improved stock market and higher equity allocations, though this was largely anticipated as most had already issued profit alerts. The annualized total investment return exceeded 6% across the board, while the annualized net investment yield slipped to around 3.5%. Book value trends were also encouraging, with PING AN and CPIC (02601.HK) recording post-tax operating profit growth of 9% and 8% respectively for the quarter. However, industry capital levels declined due to continued reductions in discount rates and increased equity exposure, yet overall capital positions remained relatively sound. AAStocks Financial News |
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