Strong structural drivers ahead
• Positive takeaways from Prudential’s (2378 HK, NR) Investor Day
• Favourable implications for Asia insurers in view of clear structural drivers, rapid wealth accumulation and an underpenetrated market
• Recent spike in US reverse repo facility may trigger further uptrend for bond yields
• Maintain BUY on AIA (1299 HK) and Manulife (945 HK)