Insurance stocks generally declined in early trading. As of press release, AIA (01299) fell 4.65% to HK$49.2; China Life (02628) fell 2.81% to HK$8.99; Xinhua Insurance (01336) fell 2.52% to HK$13.14; and China Taibao (02601) fell 1.47% to HK$14.7.
The Zhitong Finance App learned that insurance stocks generally declined in early trading. As of press release, AIA (01299) fell 4.65% to HK$49.2; China Life (02628) fell 2.81% to HK$8.99; Xinhua Insurance (01336) fell 2.52% to HK$13.14; and China Taibao (02601) fell 1.47% to HK$14.7.
Fangzheng Securities released an insurance 1Q24E forward-looking report stating that in terms of personal insurance, the NBV of 1Q24E listed insurers is expected to grow at an average rate of 28.5%, and 2Q24E NBV is expected to continue to grow year-on-year under a high base. In terms of property insurance, the premium growth rate has slowed due to adjustments in the insurance pace, and disasters such as freezing rain in February may have increased 1Q24 COR year-on-year. In terms of net profit, fluctuations in the equity market may affect insurers' investment income levels. It is expected that a rapid decline in interest rates will help smooth profit fluctuations in the short term.