Life and Health Insurance

China Life

China Life (02628.HK) was increased by Ping An Asset Management by 25.461 million shares

As green transformation accelerates, China Life explores solutions

Ping An Insurance increases stake in China Life by 16.26 million shares on May 14, holding reaches 14.03%

China Life Shaanxi Media Tour: Silver Age Health Insurance System Supports Livelihood Protection and Claims Service

China Life Pilots Long-Term Care Insurance ('Sixth Insurance') in Hanzhong, Shaanxi

Ping An Life Increases Stake in China Life by approx 453 million HKD

China Life P&C Insurance Takes Multiple Measures to Meet the Challenge of the Flood Season

China Life launches smart long-term care system to improve service efficiency for long-term care insurance.

Life Insurance Companies Release Q1 Sales Agent Scale Data

Ping An Asset Management Co. increased holdings of China Life Insurance by 12.902 million shares

China Life Holds Media Briefing on Long-Term Care Insurance and Digital Finance

China Life Insurance Releases ESG Report with Total Premiums Exceeding 700 Billion

CMBI Maintains Buy Rating on China Life with Target Price Hike

China CITIC and China Merchants Securities Maintain Buy Rating for China Life

Hanzhong's Long-Term Care Insurance System Aligns with New Rules, Enhancing Efficiency with 'Digital and Intelligent' Services Involving China Life

Listed insurance firms' Q1 net profit generally fell by nearly 17%, with the market anticipating a subsequent recovery

CMBI Raises Life Insurance Target Price to 34 HKD, Maintains Buy Rating

Goldman Sachs Raises 2026 Profit Forecast for China Life by 8%

Morgan Stanley Raises Target Price for China Life to HKD 38.9

China Ping An Life Insurance Increases Holdings in China Life

China Life Insurance 2025 Mid-term Performance Release Conference

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CICC released a report detailing investment ratings and target prices (TPs) for various insurers. All listed insurers, including AIA, PRU, and Ping An, received 'Outperform' ratings. The report also includes short selling data and price changes for each stock, with AIA at HKD105.7 and China Life at HKD44.5, among others.

AASTOCKS News

CHINA LIFE

Prudential

AIA Group

CICC

PING AN

Ping An

Ping An Insurance

CPIC

CHINA TAIPING

SUNSHINE INS

PICC GROUP

PICC Group

PICC P&C

ZA ONLINE

AIA-R

Prudential USD

Prudential plc

PING AN-R

CICC Ratings, TPs on Insurers (Table)

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CICC reports that Chinese-funded insurers' share prices have lagged behind the market rebound since April. It anticipates a reversal of the short-term capital overhang and a valuation recovery, recommending CPIC, PING AN, CHINA TAIPING, CHINA LIFE, and PICC P&C. The report highlights the need for a long-term recovery logic, emphasizing the importance of growth in individual agent channels and protection-type products for enhancing profitability and shareholder returns.

CICC: Short-term Capital Overhang to Reverse; Expects Valuation Recovery in Mainland Insurers, Recommends CPIC , PING AN  etc.

Citic Securities has maintained a Buy rating on China Life Insurance Co (CILJF) as of May 6, with a price target of HK$36.00, while the shares closed at HK$29.90. The overall analyst consensus for the company is a Strong Buy, with an average price target of HK$35.57, indicating an 18.96% upside. Additionally, CMB International Securities also supports a Buy rating with a target of HK$34.00.

Tip Ranks

CITIC SEC

CITIC Securities Co., Ltd.

China Life Insurance Co (CILJF) Receives a Buy from Citic Securities

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Yesterday, Prudential's stock price surged by 4.04% at the close, with a trading volume of approximately HKD 42.95 million. The price and volume were well-coordinated, clearly breaking through the recent consolidation range. The MACD daily bullish signal has been established with strong momentum, and the short-term momentum indicators are accelerating divergence, which usually indicates that buying power is forming a consistent directional expectation, confirming a phase of upward trend. In terms of market performance, the stock price maintained strength throughout the day, closing in the high range of the day, with clear signals of bullish control. On the news front, the insurance sector collectively strengthened yesterday, with China Life rising by 4.28%, PICC P&C by 5.91%, CPIC by 3.37%, and AIA by 1.94%, forming a strong collective breakout trend in the sector. Prudential, as an international insurance giant covering the Asian and African markets, benefits from the long-term logic of increasing insurance penetration in emerging Asian markets. Recently, although Federal Reserve officials warned of inflation risks and the possibility of interest rate hikes, the high interest rates provide positive support for the investment income of insurance companies. The improvement in market risk appetite driven by the ceasefire sentiment also favors the valuation recovery of insurance stocks. Technically, the stock price has broken through the 5-day and 10-day moving average resistance, and the short-term moving average system is beginning to shift to a bullish arrangement. The trading volume has significantly increased compared to previous days, making the breakout action effective. The overall strength of the insurance sector provides strong support for individual stocks, and today it is necessary to pay attention to whether the sector's heat can continue. The short-term trend is biased towards bullish, with sector resonance combined with individual stock technical breakthroughs, indicating a high signal strength

Technical Forecast

Pre-market trend | Prudential (2378.HK) surged over 4% on May 7 with increased volume, are the main players in the insurance sector buying up?

CICC reported that CHINA LIFEexceeded expectations in its 1Q26 results, with a 75.5% YoY increase in new business value (NBV), despite a 32.3% YoY decline in net profit to RMB19.505 billion. CICC maintained its Outperform rating and unchanged earnings forecasts, setting a target price of RMB60.3 for A shares and HKD44.5 for H shares, indicating potential upside of 65% and 62%, respectively.

CICC: CHINA LIFE  1Q26 NBV Far Exceeds Expectations; Maintains Outperform Rating

UBS reported that CHINA LIFEachieved a 76% year-on-year increase in new business value for 1Q26, significantly surpassing expectations. However, the company's net profit after tax fell 32% year-on-year to RMB20 billion, aligning with market forecasts due to weak equity performance and high investment leverage. UBS maintains a Buy rating on CHINA LIFE with a target price of HKD40.

UBS Group AG

UBS: CHINA LIFE  1Q26 New Business Value +76% YoY Far Beats; Buy, TP HKD40

Hong Kong stocks declined ahead of the May 1 holiday, with the HSI closing down 335 points at 25,776. China Life rose 4.5% after quarterly results, while SMIC gained 7.8%. Brent oil futures reached $120.92 per barrel. The US Federal Reserve maintained interest rates, and the DJIA fell 0.6%. Southbound trading will be suspended during the holiday. YOFC shares plummeted 13.8% after disappointing Q1 results, despite significant year-on-year profit growth. Overall, the HSI saw a weekly decline of 0.8%, but a monthly gain of 4%.

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Hong Kong Stocks Weaken Ahead of Long Holiday; CHINA LIFE  Up 4%; SMIC Sought After

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The HSI fell 322 points to 25,789 at midday, influenced by a 280-point drop in the DJIA. CHINA LIFE rose nearly 5% despite a 32.3% drop in 1Q net profit, while SMIC surged over 6%. Other major stocks like CCB and BANKCOMM reported profit increases but saw share declines. Tech stocks faced mixed results, with TENCENT down 3% and NTES up 2.2%. International oil prices rose, benefiting PETROCHINA, while auto stocks like BYD and NIO experienced significant drops. HSBC is involved in a USD40 billion loan arranged by SoftBank, with its shares down 0.7%.

CSOP HSI ETF

China Southern Hang Seng ETF

ISHARESHSI

FI2 CSOP HSI

HSI Down 322 pts at Half Day; CHINA LIFE  Up Nearly 5%; SMIC Surges Over 6%

CLSA has raised its target price for CHINA LIFEfrom HKD33 to HKD37 following the company's 1Q26 results, which showed a 76% YoY increase in new business value, despite a 32% YoY decline in net profit. The broker has adjusted its forecasts for 2026 EPS and DPS downwards but increased earnings and net asset value estimates for 2027 and 2028. CLSA maintains an Outperform rating for CHINA LIFE, its top pick among Chinese insurers, while lowering its A-share target price from RMB45 to RMB39 with a Hold rating.

CLSA Raises CHINA LIFE  TP to HKD37; 1Q26 Net Profit Largely In Line

JPM's report highlights that CHINA LIFE's 1Q new business value surged 75.5% YoY, significantly exceeding expectations. Despite a 32% YoY decline in net profit to RMB19.5 billion, the bank maintains an Overweight rating, citing strong sales momentum and a robust solvency ratio of 157%. The target price is set at HKD40, based on an 8x projected 2026 P/E ratio, indicating a positive outlook for the stock.

JPMorgan Chase

JPMORGAN CHASE & CO. 4.20% DEP SHS REPSTG 1/400TH PFD SER MM

JPMORGAN CHASE & CO. 6%NON CUM DEP SHS REP 1/400TH PFD SER EE

JPMORGAN CHASE & CO. DEP REP 1/400TH (5.75% NON CUM PFD DD)

JPMORGAN CHASE & CO. 4.625% DEP SH RE 1/400TH INT NO CU PF LL

JPMorgan Chase & Co.

JPMORGAN CHASE & CO. 4.55% DEP SHS REPSTG 1/400TH PFD SER JJ

JPMORGAN CHASE & CO. 4.75 DEP SHS REP 1/400 NCUM PFD SR GG

JPM: CHINA LIFE  1Q New Business Value Surges 75.5% YoY Far Above Expectations; Reiterates Overweight as Top Pick

China Life(601628.SH)

CICC Ratings, TPs on Insurers (Table)

CICC: Short-term Capital Overhang to Reverse; Expects Valuation Recovery in Mainland Insurers, Recommends CPIC , PING AN etc.

China Life Insurance Co (CILJF) Receives a Buy from Citic Securities

Pre-market trend | Prudential (2378.HK) surged over 4% on May 7 with increased volume, are the main players in the insurance sector buying up?

CICC: CHINA LIFE 1Q26 NBV Far Exceeds Expectations; Maintains Outperform Rating

UBS: CHINA LIFE 1Q26 New Business Value +76% YoY Far Beats; Buy, TP HKD40

Hong Kong Stocks Weaken Ahead of Long Holiday; CHINA LIFE Up 4%; SMIC Sought After

HSI Down 322 pts at Half Day; CHINA LIFE Up Nearly 5%; SMIC Surges Over 6%

CLSA Raises CHINA LIFE TP to HKD37; 1Q26 Net Profit Largely In Line

JPM: CHINA LIFE 1Q New Business Value Surges 75.5% YoY Far Above Expectations; Reiterates Overweight as Top Pick