Report
Cor Kluis

Ageas : Interesting investor deep dive of TPL China, remains difficult to value

>Conclusion: TPL fast growing, remains difficult to value - Ageas had an interesting investor deep dive event on their Asia business in general and its China operations specifically where its 24.9% stake in TaiPing life (TPL) is the main unit. For the evaluation of the TPL business the market has to balance the quite a few positives parts like fast growth with the more cautious parts like less detailed transparency. Apart from that, Ageas explained well why it is repo...
Underlying
Ageas SA/NV

Ageas is an insurance company engaged in providing a range of life and non-life products distributed through a variety of channels. Co. focuses on helping its customers to mitigate risks related to property, casualty, life and pensions. Co. serves its customers through a combination of wholly owned subsidiaries, equity associates and partnerships, with financial institutions and distributors in Belgium, the U.K., Luxembourg, Italy, Portugal, Turkey, France, China, Malaysia, India, Thailand and Hong Kong. Co. is organized into five operating segments: Belgium, U.K., Continental Europe, Asia, and General Account.

Provider
Oddo BHF
Oddo BHF

​Oddo Securities provides securities brokerage and research services. The company offers equity, economic, and derivatives research and credit analysis services. It focuses on insurance, automotive, building materials, pharmaceuticals, telecommunications, information technology, and agri-food industries.

Analysts
Cor Kluis

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