Huaxi Securities: The market is too pessimistic about the investment side of insurers and focuses on asset-side catalysis in the short term
We are still optimistic about the long-term allocation value brought about by the gradual recovery of industry fundamentals, and focus on asset-side catalysis in the short term.
Dongwu Securities: Insurance industry optimizes information disclosure, opens black boxes of statements to improve long-term valuations
Investment opportunities in insurance stocks are gradually shifting from the left to the right.
[Broker Focus] China Merchants Securities maintains China Financial Insurance (02328) “Highly Recommended” rating but lowered its profit forecast for nearly 3 years
Jinwu Financial News | According to the China Merchants Securities Research Report, China Financial Insurance (02328) disclosed premium data for January 2024, and the ratio of car insurance and non-car insurance increased 2.9% and 2.6% year-on-year. The company adheres to efficiency first and high-quality development, has strong continuous profitability and relatively stable dividend income, and its leading advantages in the industry are expected to continue to be highlighted. According to the bank, in 2024, the company pragmatically promotes an excellent strategy, implements a new business model of “insurance+risk reduction service+technology”, adheres to efficiency first and high-quality development, and has strong sustainable profitability and relatively stable dividend returns. The leading advantages in the industry are
[Broker Focus] Guolian Securities maintains China Financial Insurance (02328) “buy” rating, and the company's valuation is expected to be further repaired
Jinwu Financial News | According to Guolian Securities Research, China Financial Insurance (02328) issued a premium income announcement for January 2024. The company achieved premium income of 62,828 billion yuan, an increase of 2.7% year on year. Among them, car insurance increased 2.9% year on year and non-car insurance increased 2.6% year on year. According to the bank, the growth rate of the company's car insurance premiums slowed slightly from month to month, and it is expected that the average premiums for major cars will drop. Looking at the whole year, the bank expects the company to pay more attention to car insurance COR than the growth rate of car insurance premiums. Based on this, the company expects to continue to optimize the car insurance business structure and enhance risk reduction service capabilities to improve car insurance payout rates. simultaneously
Cinda Securities: The decline in interest rates is conducive to increased demand for insurance products, and I am optimistic about the negative capital resonance market in the context of economic recovery
The general market has picked up since February, and the insurance sector has continued to rebound, but overall valuations are at a historically low level. I am optimistic that the sector's assets will resonate in the context of continuous macroeconomic recovery.
[Broker Focus] Cinda Securities indicates that the overall valuation of the insurance sector is at a historically low level, optimistic about the capital resonance market in the context of macroeconomic recovery
Jinwu Financial News | According to the Cinda Securities Research Report, listed insurers released premium data for January 2024, and the year-on-year growth rate of life insurance premium income in January 2024: China Life Insurance (yoy +2.2%) > Ping An Life (yoy -3.9%) > Taibao Life Insurance (yoy -14.7%) > Xinhua Insurance (yoy -15.0%) > People Insurance (-18.5%); January financial insurance premium income year-on-year growth rate: Taibaocai (yoy +8.7%) > Ping An (yoy +2.7%) > Ping An (yoy +2.7%) > Ping An (+2.7%) 1.1%). The bank indicates that overall, the bank believes in strict implementation of the “integration of reporting and banking