Zhi Tong Cai Jing·2025-11-03 08:13Group 1 - Goldman Sachs has raised AIA Group's (01299) new business value forecast for 2025 to 2027 by 1.8% to 2.5%, with the target price increased from HKD 97.8 to HKD 99.5, citing strong long-term growth prospects supported by factors such as an elite agent team, rapidly growing partnership channels, cross-regional layout, quality customer base, diversified product portfolio, and strong profitability [1] - Haitong International reported that AIA's new business value grew by 25% year-on-year in Q3 at constant exchange rates, compared to 14% in the first half of 2025, amounting to USD 1.476 billion, which exceeded market expectations [1] - The new business value margin increased by 5.7 percentage points year-on-year to 58.2%, with first-year standard premium growth of 14% [1] Group 2 - The agent channel showed strong performance with a year-on-year growth of 19%, contributing over 70% of the group's new business value; the partnership distribution channel also achieved a 46% year-on-year growth in new business value [1] - The new business contract service margin (NB CSM) saw a year-on-year increase of over 25% in Q3 [1]