As of press release, China's Taiping (00966) rose 6.3% to HK$7.26, Ping An of China (02318) rose 3.78% to HK$35.7, and AIA (01299) rose 3.37% to HK$52.1.
The Zhitong Finance App learned that insurance stocks were higher. As of press release, China Taiping (00966) rose 6.3% to HK$7.26, Ping An of China (02318) rose 3.78% to HK$35.7, and AIA (01299) rose 3.37% to HK$52.1.
China Merchants Securities believes that the “red” start of life insurance in the first quarter is expected to arrive as scheduled, but financial insurance underwriting profits are under certain pressure to grow; the asset side is affected by a combination of falling interest rates and equity market shocks, and profit performance under a high base is expected to be pressured. Looking at the whole year, life insurance NBV growth rate may be better than previously anticipated, and refined financial insurance management is expected to continue to improve underwriting efficiency; asset-side insurance's high-dividend strategy leads the market style and is expected to achieve excessive performance, and interest rates are also expected to gradually stabilize after a rapid decline. It is recommended to focus on lower sector allocation opportunities.
The Huaxi Securities Research Report 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 customs pressure brought about an improvement in debt quality; in the context of strong demand for demand-side residents' savings combined with continued reduction in deposit interest rates, the advantages of insurance products were highlighted. In terms of financial insurance, I am optimistic about the improvement of COR due to restructuring of non-auto insurance businesses for a long time. 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.