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focus]Nomura lifts New China Life (01336) to HK$68.1
Nomura raised its target price for New China Life Insurance (NCI)(01336) to HK$68.1 from HK$64.82, and maintained its "buy" rating.
  The research house said NCI's business transformation is on track with (1) individual
business as a percentage of total FYP increasing to 72% for 1H, versus 33% for 1H 2016;
(2) regular business as a percentage of individual FYP increasing to 87% for 1H versus 38%
for 1H 2016; (3) payment periods of 10 years or more as a percentage of individual regular
FYP increased to 85% for 1H versus 74% for 1H 2016.
  Nomura expects NCI to mostly reach its preset goals and fulfil its transformation by the
end of FY2017, while starting from FY2018 the research house expects sustainable strong
growth in both premium and value.

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