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<Research>Haitong Int'l Elevates AIA's TP to HKD99.5; 3Q VONB Growth Beats
Recommend 11 Positive 25 Negative 15 |
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AIA (01299.HK) announced a 25% growth in the value of new business (VONB) at constant exchange rates for 3Q25 to USD1.476 billion, compared to 14% in 1H25, beating market expectations, according to a report from Haitong International. AIA's VONB margin increased by 5.7 ppts YoY to 58.2%, with first-year standard premium growth of 14%. Its agent channel performed strongly with a YoY spike of 19% in 3Q25, contributing over 70% of the group's VONB. The partnership distribution channel also achieved a 46% YoY growth in VONB. Haitong International lifted its target price for AIA from HKD97.8 to HKD99.5 and reiterated its Outperform rating. AAStocks Financial News |
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