UBS: Maintains FWD Insurance (01299.HK) target price of HK$88, with stable performance in the first half of the year.

According to Zhitong Finance APP, UBS released a research report stating that AIA Group (01299.HK) had a stable first half performance, with a 14% year-on-year increase in new business value, which roughly meets expectations. By CER calculation, the total after-tax operating surplus increased by 6% year-on-year, slightly exceeding expectations. The contract service margin (CSM) increased by 9.2% compared to the second half of last year, consistent with the bank's forecast. The company plans to pay an interim dividend of 49 Hong Kong cents, a 10% increase from the same period last year (9% higher than market expectations), and has not announced a buyback plan, in line with the bank's expectations. The bank maintains a target price of 88 Hong Kong dollars for the group and a "buy" rating.