友邦保险：FY24 preview: OPAT back to growth trajectory;resilient VNB despite modest slowdown in 2H-20250224

24 Feb 2025 CMB International Global Markets | Equity Research | Company Update AIA Group Ltd. (1299 HK) FY24 preview: OPAT back to growth trajectory; resilient VNB despite modest slowdown in 2H AIA's share price underperformed the market and CN insurers despite resilient VNB growth and a solid financial position underpinning attractive shareholder returns. The stock price fell 17.3% in FY24, lagging behind key benchmarks as HSI (+18%), CSI 300 (+15%) and FTSE APAC ex-Japan (+7%) (Fig.1). We attribute the m ...