AIA Group’s 1Q NBV Growth Slowed Smaller Potential in Margin Improvement
No-moat AIA Group’s first-quarter financial highlights reported first-quarter new business value, or NBV, growth of 18% on a constant-currency basis. Such growth was slower than the 20% increase in the year-ago period and tracking in line with our full-year expectation of 15% in 2019. While a negative change in local currencies against U.S. dollars resulted in a lower NBV growth at 14% on an actual-currency basis. Given lack of further disclosure, we retain our HKD 82 per share fair value estima...AIA Group is an investment holding company. Co. is a life insurance based financial services provider operating throughout the Asia Pacific region. Through its subsidiaries, Co. is engaged in writing of life insurance business; providing life insurance, pension, accident and health insurance and savings plans throughout Asia; and distributing related investment and other financial services products to its customers. Through a network across Asia-Pacific, Co. serves the holders of over 28 million individual policies and over 16 million participating members of group policies. As of Nov 30 2013, Co. had operations in 17 markets throughout Asia-Pacific region.
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Morningstar provides data on approximately 530,000 investment offerings, including stocks, mutual funds, and similar vehicles, along with real-time global market data on more than 18 million equities, indexes, futures, options, commodities, and precious metals, in addition to foreign exchange and Treasury markets. Morningstar also offers investment management services through its investment advisory subsidiaries and had approximately $185 billion in assets under advisement and management as of June 30, 2016.
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