Domestic insurance stocks had the highest gains in early trading. As of press release, China Taibao (02601) rose 4.3% to HK$15.52; China Financial Insurance (02328) rose 2.5% to HK$10.24; Xinhua Insurance (01336) rose 1.68% to HK$13.32; and China Life Insurance (02628) rose 1.7% to HK$8.98.
The Zhitong Finance App learned that domestic insurance stocks had the highest gains in early trading. As of press release, China Taibao (02601) rose 4.3% to HK$15.52; China Financial Insurance (02328) rose 2.5% to HK$10.24; Xinhua Insurance (01336) rose 1.68% to HK$13.32; and China Life Insurance (02628) rose 1.7% to HK$8.98.
Guoxin Securities pointed out that the “good start” for listed insurers came to an end in March. Personal insurance premium income continued to be pressured in the first quarter, and regulations continued to guide industry channel adjustments to reduce rigid costs on the debt side. Against this background, the premium income performance of listed insurers has basically bottomed out and rebounded. Against the backdrop of continuous adjustment of channel quality and continuous improvement of insurance product forms, it is beneficial to the industry's medium- to long-term NBV recovery. The financial insurance business benefited from savings over the first quarter and continued recovery in the economic situation, and premium income continued to grow.
Huaxi Securities pointed out that from the debt side, in terms of personal insurance, overall premium income continued to grow in the first quarter, mainly due to the continued recovery of supply-side insurance channels, and although new banking insurance channel orders were under pressure, the drop in bargaining pressure brought about an increase in debt quality; against the backdrop of strong demand for demand-side residents' savings demand compounded by continued reduction in deposit interest rates, the advantages of insurance products were highlighted. In terms of financial insurance, I have long been optimistic about the improvement of COR by restructuring the non-auto insurance business. Looking at the asset side, the equity market is currently showing a steady recovery trend. It is expected that long-term interest rates will have limited room for decline, and the asset side is expected to usher in marginal improvements. Recently, the insurance sector has continued to decline, and the overall valuation is at a historically low level. The margin of safety is sufficient, maintaining the industry's “gain” rating.