Citi: Expects AIA Insurance (01299.HK) Q3 new business value to contract 2.6% year-on-year at constant exchange rates; maintains "Buy" rating.

Zhito Finance APP has learned that Citi issued a research report stating that it expects AIA (01299.HK) to announce its third-quarter operating data for this year on October 30, and estimates that overall new business value will slightly contract by 2.6% year-on-year in the third quarter on a constant currency basis, while on an actual currency basis it is expected to decline by 2% year-on-year, mainly considering the very high base in the same period last year and the impact on China's bancassurance channel due to regulatory changes. The bank maintains a "Buy" rating on AIA with a target price of HKD 103.