UB#AIA RC2706C

Tianjin Jiadian Private Equity Fund Partnership Established

AIA repurchased 2.32 million shares for HK$201 million

AIA Launches USD Rate-Linked Life Insurance to Cater to Women's Multiple Roles

AIA repurchased 703,000 shares

BofA Securities Maintains Buy Rating on AIA with Expectation of Exceeding New Business Value Growth

AIA Exceeds Expectations with 17% YOY Increase in New Business Value in Q1 2026

CLSA Raises AIA and Prudential's Target Prices, Forecasts Growth in Hong Kong's New Business Value Profit Margin

AIA issues RMB 2.5 billion subordinated securities

AIA Exceeds Expectations in New Business Value Growth

CICC and DBS Reiterate Buy Rating on AIA Group

Morgan Stanley Upgrades AIA Group's Rating

AIA Reports 17% Growth in First Quarter New Business Value and Announces $1.7 Billion Share Repurchase Program

AIA Reports 13% Increase in New Business Value for Q1 2026

AIA Submits Post-Repurchase Disclosure for April 29, 2026 Stock Repurchase Activity

AIA repurchased 433,600 shares

AIA Sichuan Launches New Pension Model and Builds Professional Insurance Team

AIA repurchases 1.97 million shares for 164 million HKD

S&P gives A rating to AIA's proposed RMB denominated subordinated securities issuance

AIA Continues to Repurchase Shares for the 17th Trading Day

AIA Hong Kong Stays Top in Hong Kong Insurance Market for 12 Consecutive Years

RONGZUN INT’L H

ASIA PIONEER

160 HEALTH

VC HOLDINGS

CENTRALCHINA MT

ASTRUM

HENGDELI

HAITIAN ANTENNA

CN CULTURE GP

TOMO HOLDINGS

02378

601601

02601

02328

01299

601628

02628

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

CPIC

PICC P&C

China Life

CHINA LIFE

Prudential plc

Prudential

Prudential USD

AIA-R

AIA Group

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?

AAGIY

BofAS reported that AIA's 1Q new business value (NBV) growth exceeded expectations, driven by Mainland China and Hong Kong markets. NBV rose 13% YoY to USD1.76 billion at constant exchange rates, and 17% at actual rates. Excluding Thailand, NBV growth reached 22%. AIA's share buyback program of USD1.7 billion is expected to complete in four months. BofAS maintains a Buy rating on AIA with a target price of HKD100.

AASTOCKS News

Prudential financial

Bank of America

Prudential Financial Pref Share PRS 5.625 08/15/58

Prudential Financial Pref Share PFH 4.125 09/01/25

Prudential Financial Pref Share PRH 5.95 09/01/62

BANK OF AMERICA CORPORATION DEP SHS REP 1/1000TH INT NON CUM PFD QQ

BANK OF AMERICA CORPORATION DEP SHS REP 1/1200TH PRF SERIES '5'

BANK OF AMERICA CORPORATION 7.25% NON-CUM PERP CONV PFD SER L

BANK OF AMERICA CORPORATION 5.875%NON CUM DEP SHS REP1/1000TH SER HH

BANK OF AMERICA CORPORATION DEP SHS REP 1/1200TH PRF SERIES '2'

BANK OF AMERICA CORPORATION 5% DEP SHS REPR 1/1000TH NON CUM PFD LL

BANK OF AMERICA CORPORATION DEP SHARES REP 1/1000TH PERP PFD SER 'E'

BANK OF AMERICA CORPORATION INCOME CAPITAL OBLIG NTS DUE 15/12/2066

BANK OF AMERICA CORPORATION 4.375% DP SH RP 1/1000TH IN NON CU PF NN

BANK OF AMERICA CORPORATION DEP SH REP 1/1200TH PRF SER 1 USD25

BANK OF AMERICA CORPORATION 5.375%DEP SHS REP 1/1000TH NON CUM SR KK

BANK OF AMERICA CORPORATION 6%NON CUM DEP SHS EACH REP 1/1000 SER GG

BANK OF AMERICA CORPORATION DEP SHS REP 1/1200 PFD SER 4 USD25

BANK OF AMERICA CORPORATION DEP SHS REP 1/1000TH NON CUM PFD SER SS

BANK OF AMERICA CORPORATION 4.125%DEP SH REP 1/1000 PFD SER PP USD25

Bank of America Corp

BofAS: AIA  1Q New Business Value Beats, Rating Buy

CLSA has raised the target prices for AIA and PRU, citing a robust Hong Kong insurance market that allows leading insurers to outperform. AIA's target price increased from HKD110 to HKD120, while PRU's target price rose from HKD140 to HKD145. Both companies are expected to see a return to compound growth in their value of new business (VONB) and double-digit growth in embedded value. CLSA anticipates improvements in capital efficiency and total shareholder return, with Hong Kong operations being a key growth driver.

CLSA Raises TP on AIA  and PRU as VONB Resumes Compound Growth; Rated Outperform

CICC has reaffirmed a Buy rating on AIA Group (AAIGF) with a price target of HK$105.70, while the shares closed at HK$85.05. The analyst consensus is a Strong Buy with an average target of HK$103.47, indicating a 21.66% upside. Additionally, DBS also maintained a Buy rating with a target of HK$108.00.

Tip Ranks

AIA GROUP N4403

AIA GROUP N3004

AIA GROUP RSPSB

CICC

AIA GRP SDS3506

AIA GRP SDS5409

AIA GRP SDS5110

AIA GROUP N2904

AIA GRP SDS3503

AIA GROUP RSPSC

AIA GRP SDS3404

AIA GROUP N2710

AIA GROUP N3304

AIA GRP SDS3309

AIA GROUP RSPS

AIA GRP T2S4009

AIA GROUP N4603

AIA GROUP N2804

CICC Reaffirms Their Buy Rating on AIA Group (AAIGF)

HSBC Research has maintained a Hold rating on AIAwith a target price of HKD85. The company reported a 13% YoY increase in value of new business (VONB) in Q1, driven by strong growth in Mainland China, exceeding market expectations. Annualized new premiums rose 16% YoY, while VONB margin fell to 56%. AIA is conducting a strategic review, which may lead to restructuring or M&A opportunities. The report highlights mixed performance across regions, with Mainland China and Hong Kong showing growth, while Thailand experienced a decline.

HSBC HOLDINGS

HSBC

HSBC Holdings Plc

HSBC 5xShortSG241213

HSBC Research Maintains AIA  Hold, TP HKD85

Morgan Stanley has assigned an Overweight rating to AIAfollowing a strong 1Q performance, where the company reported a 13% growth in value of new business (VNB), surpassing forecasts. Notably, Hong Kong's VNB grew by 21%, while China's VNB increased by 26% YoY. Despite an 18% decline in Thailand, a rebound is expected in 2Q. The bank anticipates AIA will achieve mid-teens full-year growth, setting a target price of HKD109.

Morgan Stanley

MORGAN STANLEY DEP SHS EA REP 1/1000 SHS NON CUM PFD O

MORGAN STANLEY DEP SHS REPSTG 1/1000TH PFD SER Q

MORGAN STANLEY DEP SHS REPS 1/1000 7.125% PFD E

MORGAN STANLEY NON-CUM DEP SH REP 1/1000 PFD SER I

MORGAN STANLEY 4.875 DEP SHS REP 1/1000 NCUM PFD SR L

MORGAN STANLEY 6.5%DEP SHS REPSTG 1/1000 NON CUM SER P

MORGAN STANLEY DEP SHS REPS 1/1000 PFD SER 'A'

MORGAN STANLEY DEP SHS REPR 1/1000TH INT PFD SER 'F' FX

MORGAN STANLEY DEP SHS REP 1/1000 NON-CUM PFD STK SER K

M Stanley Gives AIA  Overweight Rating; 1Q Results Healthy, Reinforcing Market Confidence

Jefferies has issued a research report indicating that AIAis likely to exceed market consensus growth expectations. The company recorded a 13% growth in value of new business in Q1 2026, with a notable 22% growth excluding Thailand. Growth in Mainland China and Hong Kong surpassed 20%. Jefferies maintains a Buy rating on AIA with a target price of HKD97, suggesting strong future performance based on current momentum.

Jefferies Financial

Jefferies: AIA  Growth Momentum Likely to Exceed Market Consensus, Rates Buy with TP HKD97

Citi's research report highlights AIA's 1Q new business value, which increased by 17% YoY to USD1.757 billion, surpassing market expectations. Excluding Thailand, growth would have been 22% at constant exchange rates. The rise was driven by a 20% increase in annualized new premiums, although the new business value margin fell to 56%. Hong Kong and Mainland China showed strong performance with increases of 21% and 26%, respectively. AIA also initiated a USD1.7 billion share buyback program. Citi maintains a Buy rating with a target price of HKD103.

Citigroup

CITIGROUP INC 6.250 NON CUM SER II PFD WI

Citi: AIA  1Q New Business Value +17% YoY Beats; TP HKD103

The HSI opened down 103 points at 26,008, following a 0.6% drop in the DJIA. CHINA LIFE shares rose 4% despite a 32.3% YoY drop in net profit for 1Q26. AIA also gained nearly 2% after reporting better-than-expected new business value. Other major stocks like HSBC and BOC Hong Kong opened down, while tech stocks generally fell. International oil prices rose, benefiting CNOOC, which opened up 0.7%. Overall, the market showed mixed performance with several companies reporting varied financial results.

HSI Opens Down 103 pts; CHINA LIFE  Up 4%, AIA Gains Nearly 2%

AIAopened 1.94% higher at HKD86.6, with a trading volume of 3.2698 million shares. CLSA reported that AIA's Value of New Business (VONB) in Q1 rose 13% YoY, exceeding expectations by 4%. The Annualized New Premium (ANP) grew 20%, while VONB margin decreased slightly. AIA Hong Kong and AIA China both saw VONB growth over 20%, with AIA China achieving a 26% increase driven by demand for long-term savings products. AIA Hong Kong also showed strong performance despite industry challenges.

AIA  Opens 1.94% Higher, CLSA: 1Q VONB Beats Expectations

UB#AIA RC2706C(55803.HK)

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?

BofAS: AIA 1Q New Business Value Beats, Rating Buy

CLSA Raises TP on AIA and PRU as VONB Resumes Compound Growth; Rated Outperform

CICC Reaffirms Their Buy Rating on AIA Group (AAIGF)

HSBC Research Maintains AIA Hold, TP HKD85

M Stanley Gives AIA Overweight Rating; 1Q Results Healthy, Reinforcing Market Confidence

Jefferies: AIA Growth Momentum Likely to Exceed Market Consensus, Rates Buy with TP HKD97

Citi: AIA 1Q New Business Value +17% YoY Beats; TP HKD103

HSI Opens Down 103 pts; CHINA LIFE Up 4%, AIA Gains Nearly 2%

AIA Opens 1.94% Higher, CLSA: 1Q VONB Beats Expectations