AIA's 2017 Results Deliver Strong New Business Value Growth Despite High Base in Hong Kong in 2016
We're increasing our fair value estimate for no-moat AIA Group to HKD 72 per share from HKD 67 to factor in more favorable assumptions after 2017 results. An increased premium growth assumption accounts for HKD 3 of the increase, while the time value of money is responsible for HKD 2. We think the stock is fairly valued, trading at a 9% discount to our fair value estimate.ÂFull-year results were solid, with new business value growing 28% and embedded value increasing 19%, higher than our expect...
Morningstar, Inc. is a leading provider of independent investment research in North America, Europe, Australia, and Asia. The company offer an extensive line of products and services for individual investors, financial advisors, asset managers, and retirement plan providers and sponsors.
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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