Opinions
Drummond Brodeur
China Life Insurance
LFC-N
DON'T BUY
Sep 26, 2008
Largest life insurance company in China. It is frequently played as a proxy on the Chinese/Asian market. China has recently made some moves to stimulate growth. Quite optimistic about the Chinese market over the coming 12 months. However, this company is expensive compared to global life insurance companies. Speculators stock.
$57.250
Stock price when the opinion was issued
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COMMENT
She likes the Chinese insurance sector. Penetration levels are very, very low. The bond yield in China is starting to pick up, and that usually helps the lifecos. This is the largest company in China. They have gone through a rough time over the last 12-18 months, so it is trading at a very big discount to its peers. It will benefit from higher interest rates. She prefers Ping An and AIA (AAGIY-PK), as larger and more diversified plays.
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