<div class=newsTextDataWrapInner><p>KUALA LUMPUR (Nov 13): CIMB Research has maintained its Add rating on Tune Insurance Holdings Bhd at RM2.12 with a higher target price of RM3.05 (from RM2.83) and said that apart from its travel insurance business, the growth prospects for the Thai non-life insurance (NLI) sector was another strong re-rating catalyst for Tune.</p></div>

<div class=newsTextDataWrapInner><p>In a note Nov 12, the research house said Thailand NLI premiums were expected to expand at a sustainable rate of 13-14% in the next 3-5 years versus 8-9% in Malaysia.</p></div>

<div class=newsTextDataWrapInner><p>“To reflect the positive outlook for in Thailand, we raise our FY15-16 EPS forecasts and our DDM-based target price (COE of 9.2%; LT growth of 5%).</p></div><div class=inPageAd id=div-gpt-ad-inpage></div>

<div class=newsTextDataWrapInner><p>“We reiterate our Add call on Tune, based on the rapidly-expanding travel insurance business and its growth prospects in Thailand,” it said.</p></div>

<div class=newsTextDataWrapInner><p>At 9.15am, Tune was flat at RM2.05 with 6,600 shares done.</p></div>

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KUALA LUMPUR (Nov 13): CIMB Research has maintained its Add rating on Tune Insurance Holdings Bhd at RM2.12 with a higher target price of RM3.05 (from RM2.83) and said that apart from its travel insurance business, the growth prospects for the Thai non-life insurance (NLI) sector was another stro...

CIMB Research maintains Add on Tune Insurance, ups target price to RM3.05 

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