China Insurance_ 3Q24 Results Wrap_ NBV Robust with Sales & Margin Hikes; CoR Sapped by NAT CAT; Earnings Soared on Inv’t
ATTRACTOR·2024-11-09 14:13
更多一手调研纪要和海外投行报告加V：shuinu9870 更多资料加入知识星球：水木调研纪要 关注公众号：水木纪要 03 Nov 2024 16:41:54 ET │ 12 pages China Insurance 3Q24 Results Wrap: NBV Robust with Sales & Margin Hikes; CoR Sapped by NAT CAT; Earnings Soared on Inv't CITI'S TAKE In 9M24, life insurers delivered robust NBV growth, with PICC Life leading (+114% yoy), followed by NCI/CPIC/Ping An/China Life at 79%/38%/34%/25% yoy. Ping An/CPIC's 3Q24 NBV growth accelerated to 1.1x/75% yoy, underpinned by both accelerated FYP growth and widened NB margin. In 3Q24, ...