Fintech & EM-focused Analyst, KT Capital Group

Alec Tseung

Alec is currently a partner in KT Capital Group and serving as the Chinese shareholder representative of a public P&C insurer in Kazakhstan/Central Asia. 

Previously, he served as the Research & Investments Partner at Re:base Ventures (rebase.vc), a Web3 and DeFi investment firm with a strong focus on building and incubation. 

Before that, he spent time with Tencent, where he was responsible for the group's investments in the overseas markets (Southeast Asia, the Middle East, and Europe). 

Prior to Tencent, he was in the Principal Investments team at Swiss Re, where he focused on driving the group's investments into financial services and Fintech sectors in APAC. 

He has been responsible for a wide range of investments and transactions (venture/growth, buyout, direct secondaries, etc.) totaling >$5 billion. Alec started his career with Bank of America Merrill Lynch.

Fintech & EM-focused Analyst

APAC Insurers Series (#2): AIA or Prudential?

2024 High Conviction: Underwriting Prudential’s Investment Case into 2024

APAC Insurers Series (#3): Initial Theses At Different Stages of Being Played Out

KT Capital Group

Principal investments and advisory firm that focuses on connecting the CIS countries with East Asia.

Principal investments and advisory firm

Equity Bottom-Up

China Life Insurance Company / Equity Bottom-Up

<ul>
<li>Share prices of China Life and Prudential plc have been up by 33% and 40% - 50% YTD, respectively.</li>
<li>China Life's agency restructuring is bearing fruit, as evidenced by increasing agency productivity, and is expected to continue driving new business growth and margin expansion.</li>
<li>Our previous thesis for Prudential plc remains largely intact. Albeit the strong share price performance YTD, valuation upside remains as its new business multiple continues to re-rate.</li>
</ul>


Share prices of China Life and Prudential plc have been up by 33% and 40% - 50% YTD, respectively.
China Life's agency restructuring is bearing fruit, as evidenced by increasing agency productivity, and is expected to continue driving new business growth and margin expansion.
Our previous thesis for Prudential plc remains largely intact. Albeit the strong share price performance YTD, valuation upside remains as its new business multiple continues to re-rate.


Two Asian Life Insurance Stocks (Both Up >30% YTD) Worth Closer Looks