In 2012, Shengbo Tang of China International Capital Corp. debuted as a runner-up, and this year he leaps all the way to first place. One portfolio manager praises the researcher for his “deep view on the industry and fast follow-up on company developments.” Shenzhen-based Tang has maintained a cautious stance on his sector, which declined 11.5 percent year to date through October, while the broad market was flat. He recommends that “investors wait for clear regulatory guidance on pension and health insurance reform” in the country, he says. One exception to his circumspection is Beijing-based China Life Insurance Co., named Tang’s top pick in June 2012. In addition to its life insurance line, the company provides accident, annuity and health care products, and the analyst detected an opportunity for China Life to capture an upside catalyzed by improved liquidity and accelerating premium growth. He reiterated his position three months later, and by the end of October 2013, the shares had jumped 19.4 percent since he first urged investors to buy, to HK$20.60, eclipsing the sector by 2.3 percentage points. Before joining CICC in 2010, Tang worked for four years as an actuarial manager at China Taiping Insurance Holdings Co. The 32-year-old earned a master’s degree in applied mathematics from Tongji University in Shanghai. — Katie Gilbert |
The 2013 All-China Research Team: Insurance, First: Shengbo Tang
