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<Research>HSBC Research: Top Picks PING AN/ CHINA LIFE Among CN Insurers; PICC P&C Downgraded to Hold
Recommend
22
Positive
49
Negative
17
Investment spread risk has become a major concern amid the low interest rate environment, HSBC Global Research issued a research report saying. As new business growth fails to translate into earnings growth, share prices seem to be unaffected by VONB growth.

Buy-rated PING AN (02318.HK) and CHINA LIFE (02628.HK) are the broker's top picks.

Related NewsG Sachs Ratings, TPs on CN Insurers (Table)
HSBC Global Research also downgraded PICC P&C (02328.HK) from Buy to Hold due to lack of short-term catalysts and improving market sentiment, which may be unfavorable to PICC P&C as it is considered a more defensive stock.
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