BUZZ-AIA Group falls as annual value of new business below market view

Reuters
03-14
BUZZ-AIA Group falls as annual value of new business below market view

** Shares of AIA Group 1299.HK fall as much as 4.2% to HK$60.15, their lowest since March 5

** Stock on course for a second session of losses, if current trend holds

** Stock is top pct loser in the Hang Seng Finance Index .HSNF and Hang Seng Composite Index, which track financials .HSCIF, up 1.6% and 1.9%, respectively

** The Hong-Kong based insurer on Friday reported an 82% surge in 2024 net profit, declared a $1.6 billion buyback plan and posted an 18% rise in annual value of new business

** Jefferies, with "buy" rating, says AIA's FY 2024 results are "trivially below" consensus, while growth in Value of New Business and Embedded Value are below expectations

** UBS, with a "buy" rating, says strong 2024 results are expected while the $1.6 billion buyback falls at lower end and is likely below expectation of some investors

** Hang Seng Index .HIS rises 2.5%

** Stock up 11.6%, YTD

(Reporting by Donny Kwok)

((donny.kwok@thomsonreuters.com))

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