Eye for VNB growth in 2H • Lower CN insurers' FY21F VNB growth to -8% to -16% y-o-y. Mild recovery in 2H still expected• Impact from C-ROSS 2 Phase II to insurers' solvency is inevitable but manageable• Sector on average corrected by 30% since March and is trading at past five-year trough level. Negatives should […]

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