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2026-04-17 10:35:04 Chinese insurers are expected to record solid growth in after-tax operating profit in 1Q26, but their net profit growth may diverge due to stock market volatility, with most of them likely posting declines, Morgan Stanley said in its report. Meanwhile, new business value growth should remain healthy, particularly for large insurers, and business quality should show continued improvement. Regarding property and casualty insurers, they are anticipated to deliver satisfactory combined ratios. Overall, Morgan Stanley predicts CHINA LIFE (02628.HK)'s 1Q26 net profit to sink by 41% YoY, PICC GROUP (01339.HK)'s to slump by 34%, PICC P&C (02328.HK)'s to fall by 20%, NCI (01336.HK)'s to drop by 16%, and PING AN (02318.HK)'s to decrease by 10%. In contrast, CPIC (02601.HK) may post a slight positive growth of 1% YoY, thanks to a prudent investment strategy and lower equity allocation. In terms of after-tax operating profit, Morgan Stanley forecasts CPIC and PING AN to show relatively solid performance. PING AN's after-tax operating profit is estimated to grow by 3.6% YoY on stable life insurance operations and improved asset management business. ~ AAStocks Financial News Web Site: www.aastocks.com | |