Ping An Insurance Delivered Stronger than Expected Growth in EV and Underwriting Profit Improvement
We increased our fair value estimate for no-moat Ping An Insurance to CNY 88 from CNY 80 and HKD 103 from HKD 92 per share for A-shares and H-shares, respectively, following its stronger-than-expected results despite the challenges in both capital market and insurance sales in 2018. The increase was attributable to our improved outlooks for its underwriting profitability of insurance business and time value of money. The firm exceeded our expectations in net profit and embedded value, or EV, gro...
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.
We have operations in 27 countries.
Unfortunately, this report is not available for the investor type or country you selected.
Browse all ResearchPool reportsReport is subscription only.
Thank you, your report is ready.
Thank you, your report is ready.