Ge Long Hui·2025-11-03 05:27Core Viewpoint - Haitong International reported that AIA's new business value grew by 25% in the third quarter on a constant currency basis, exceeding market expectations with a value of USD 1.476 billion [1] Group 1: Financial Performance - The new business value profit margin increased by 5.7 percentage points year-on-year to 58.2% [1] - First-year standard premium grew by 14% [1] Group 2: Forecast and Valuation - Haitong International raised its forecast for AIA's new business value for 2025 to 2027 by 1.8% to 2.5% [1] - The target price for AIA was adjusted from HKD 97.8 to HKD 99.5 [1] Group 3: Growth Drivers - AIA's long-term growth outlook is supported by factors such as an elite agent team, rapidly growing partnership channels, cross-regional expansion, a high-quality customer base, a diversified product portfolio, and strong profitability [1] - Haitong International reiterated its "outperform" rating for AIA [1]