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A Billion Reasons to Buy These Insurance Stocks?

Oppenheimer's Paul Keung says there's a big growth opportunity in China. It's insurance, and investors can get in on it through some stocks traded in America.

"China has the highest household savings rates in the world, $3 trillion in assets," he told CNBC in Hong Kong. "A lot of consumers, they lack a social safety net; at the same time, the Chinese government wants consumers to spend more money, and not save so much, and they're putting a lot of things in place to get them to buy more insurance."

That points directly toward growth for companies and their U.S.-traded stocks.

Recommendations:

Keung likes China Life and China Insurance.

"You're looking at a market that's probably going to have 15 million new insurance buyers over the next five years," he said.

Disclosures:

Disclosure information for Paul Keung was not immediately available.

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