Domestic insurance stocks increased their gains in the afternoon. As of press release, Zhongan Online (06060) rose 7.54% to HK$13.12; Ping An (02318) rose 5.2% to HK$37.45; China Life (02628) rose 4.58% to HK$10.04; and China Taibao (02601) rose 3.26% to HK$15.2.
The Zhitong Finance App learned that the increase in domestic insurance stocks increased in the afternoon. As of press release, Zhongan Online (06060) rose 7.54% to HK$13.12; Ping An (02318) rose 5.2% to HK$37.45; China Life (02628) rose 4.58% to HK$10.04; and China Taibao (02601) rose 3.26% to HK$15.2.
Great Wall Securities pointed out that insurance debt-side fundamentals continued their weak recovery trend. Listed insurers disclosed premium data for the first month of this year in January 2024, and life insurance premiums generally declined year on year. Insurance valuation repairs are still worth looking forward to. Currently, sector valuations are extremely cost-effective, high dividends are still attractive, and they are optimistic about sector layout opportunities.
Donghai Securities pointed out that the government work conference sets the tone, there is considerable space on the debt side, and flexibility on the asset side can be expected. The bank believes that the introduction of the agent classification system is expected to gradually improve the quality of the team. The phased pain of “integrated reporting and banking” of banking insurance is gradually dissipating, and it remains optimistic about the value growth of a good start. At the same time, the deepening of financial insurance risk reduction services is driving the Matthew effect to continue to increase. It is recommended to focus on large comprehensive insurance companies with competitive advantages.