The company has extended its reinsurance quota share with MS&AD subsidiary, MS Primary, to encompass US dollar as well as Australian dollar denominated annuities.
UBS believes this provides increased conviction in the company’s ability to deliver double-digit growth in life assets over the medium term. UBS maintains a Neutral rating and $8.30 target.
Sector: Diversified Financials.
Target price is $8.30.Current Price is $7.94. Difference: $0.36 – (brackets indicate current price is over target). If CGF meets the UBS target it will return approximately 4% (excluding dividends, fees and charges – negative figures indicate an expected loss).