China Insurance Sector:A new perspective

Rewarding quality - identifying players with the strongest protection focus

    Introduced last year, the C-ROSS reports don’t just provide regulators with risk controls over the life sector, they also enable analysts to quantify, for the first time, the underlying mix of business written by the industry. With this data, we can better assess who has the best strategic focus on higher-value protection policies and who has the best risk management capabilities; we have revised our target valuations to rank the stocks accordingly. The most significant change is for NCI, with a 64% higher valuation - we upgrade the stock to Buy and one of our Top Picks. Ping An leads with the results of our analysis and is a Top Pick after a 35% lift in valuation.