UBS: AIA Mainland Visitor Business Differs from Cross-border Securities Trading; Reiterates Buy Rating
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UBS has reiterated a Buy rating for AIA, noting that the mainland visitor insurance business is stable despite tightening cross-border securities trading regulations. AIA's insurance business, which significantly contributes to its value of new business, operates under a solid framework. UBS highlights the demand for higher returns and broader investment options among mainland visitors. AIA's market share has declined slightly, but the company focuses on long-term products rather than short-term offerings. UBS sets a 12-month target price of HKD104 for AIA.
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