Tat Wai (Darwin) Lam, whose Citi team slips one notch to third place, “gives me detailed and precise calculations of financial data, such as embedded value and return-on-investment estimates,” says one appreciative client. Headquartered in Hong Kong with associates stationed in Bangkok, Seoul, Singapore, Sydney, Taipei and Tokyo, the ten-member crew tracks 33 companies and prefers China-based life insurers over that country’s property/casualty companies. “Life growth has bottomed out, while p/c underwriting profit has peaked,” Tam explains. “After recent share price pullbacks, we see value with the Chinese life insurers.” Recommendations include China Life Insurance Co. — a “pure life play” with good value, the team leader says — and Ping An Insurance (Group) Co. of China, primarily because of its stable earnings. — Leslie Kramer |
Industry – Insurance: Third