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    Michael Chang

    Research Analyst at CGS-CIMB

    Michael Chang is the Head of Asian Financials Research at CGS-CIMB Securities, specializing in coverage of the Asian and Hong Kong financial sectors with a focus on companies like AIA Group. Since joining CGS-CIMB as Head in February 2022, he has maintained a 50% success rate on TipRanks, with 3 out of 6 ratings generating profit, although his average return per rating over the last year stands at -7.3%. Chang's career spans major research and analyst roles at institutions including HSBC, Deutsche Bank, ABN AMRO Bank N.V., and Westpac Group, following his dual degrees in Commerce and Law from the University of Sydney. He is recognized for his analytical expertise across Asian financials, though specific professional credential details such as securities licenses are not publicly listed.

    Michael Chang's questions to PRUDENTIAL (PUK) leadership

    Michael Chang's questions to PRUDENTIAL (PUK) leadership • Q1 2023

    Question

    Inquired about the specifics of the Hong Kong business recovery, including differences in geographic and product mix compared to pre-COVID levels, reasons for outperformance in the domestic segment, and initiatives driving the positive Q3 outlook in other key markets.

    Answer

    Executives detailed that Hong Kong's Q2 volumes exceeded 2019 levels, with a normalization seen in May/June after an initial spike. The MCV business is geographically diversified, with over 70% from outside the Greater Bay Area. Margins improved in Q2, and the health policy count is trending up. The strong Q3 momentum is also driven by a comeback in Singapore and continued strength in Indonesia and Malaysia, while China's product mix is being deliberately rebalanced for long-term value.

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