Morgan Stanley: Insurance sector fundamentals are healthy, preference for Ping An Insurance (02318)

Morgan Stanley released a research report stating that the reduction of tariffs between China and the United States has improved market sentiment. The bank noted that with stable interest rates, healthy insurance sales trends, and a focus on quality in transformation, insurance stocks are attractive. The bank believes that most insurance companies will see an improvement in new business value growth in the second quarter of this year, mainly due to the solid fundamentals. Morgan Stanley is more positive on life insurance companies and prefers Ping An Insurance (02318). The bank also sees growing interest in PICC Group (01339) in the market, with its attractive valuation, although the valuation for its non-life insurance business transactions is still negative, the quality of its business is gradually improving. Additionally, AIA (01299) has performed well in the first quarter and has attracted market attention due to favorable foreign exchange effects.