CICC: Life insurance profits may exceed expectations, Chinese life insurance welcomes medium-term investment opportunities
Chinese life insurance currently has medium-term investment opportunities.
[Broker Focus] CMB International says the current life insurance industry has a low downside risk and a high margin of safety
Jinwu Financial News | According to CMB International Development Research Report, the premium income growth rate of listed life insurance companies declined in 1Q24, but the decline narrowed month by month. Thanks to the continued strong demand for savings insurance from residents under low risk preferences and the improvement in the value ratio of new banking insurance businesses, the bank expects the new business value of listed insurers to continue to grow rapidly in the first quarter. Based on the robustness of the underwriting side business, the bank is optimistic about China Taibao (02601). The growth rate of financial insurance premium income picked up in March, and the improvement in the pace of underwriting in non-vehicle policy businesses led to growth. The first quarter was affected by freezing rain disasters in some regions, and the industry's payout rate showed an upward trend. The bank expects the first quarter
Changes in Hong Kong stocks | China Financial Insurance (02328) fell nearly 5% Nomura expects its net profit for the first quarter to fall 8% year on year, and lower the company's target price
China Financial Insurance (02328) fell nearly 5%. As of press release, it was down 4.73% to HK$9.66, with a turnover of HK$435 million.
Nomura Adjusts PICC Property and Casualty's Price Target to HK$12.23 From HK$12.51, Keeps at Buy
05:30 AM EDT, 04/19/2024 (MT Newswires) -- Nomura Adjusts PICC Property and Casualty's Price Target to HK$12.23 From HK$12.51, Keeps at Buy
Nomura: The target price for the “buy” rating for China Financial Insurance (02328) was lowered to HK$12.23
Nomura estimates that the net profit of China's financial insurance in 2024 may decrease 8% year over year to 8.75 billion yuan.
Insurance stocks generally rose, and Ping An (601318.SH/2318.HK) H shares surged 5%! Sorting out the logic that institutions are optimistic about
Recently, with the introduction of the new “National Nine Rules” and the Securities Regulatory Commission's delisting opinions, the overall performance of the capital market has been enthusiastic, and there is no shortage of positive expectations for future bull markets.
Open source securities: regulation and care combined with own transformation drive the debt side to the positive focus on insurance asset-side catalysis
Listed insurers saw strong growth in NBV in 2023, and the debt-side boom is expected to continue until the 2024 quarterly report.
Changes in Hong Kong stocks | Domestic insurance stocks had the highest rise in early trading, leading to lower debt costs, and the asset side is expected to usher in marginal improvements
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.
Insurance stocks generally rose, China Taibao (02601) rose 3.9%. Institutions expect insurance stocks to experience a phased rebound in valuations
Jinwu Financial News | Insurance stocks generally rose. China Taibao (02601) rose 4.7%, China Ping An (02318), China Financial Insurance (02328), and China Taiping (00966) rose more than 2%, and Xinhua Insurance (01336) and China Life (02628) followed up%. 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. Although new banking insurance channel orders were under pressure, the drop in customs pressure brought about an improvement in debt quality; strong demand for savings from demand-side residents combined with continued reduction in deposit interest rates
Changes in Fu Pengbo and Zhao Feng's positions in the first quarter came to light, making huge increases in positions with Tencent, Meituan, and China Financial Insurance
The latest news from the 10 billion fund manager
China Financial Insurance (02328.HK) held a board meeting on April 29 to review and approve the first quarter results
Gelonghui, April 17 | China Financial Insurance (02328.HK) announced that the company will hold a board meeting on April 29, 2024 (Monday) to review and approve the company's unaudited first quarter results for the three months ending March 31, 2024 and their publication.
中國財險:董事會會議召開日期
[Broker Focus] Guolian Securities maintains China Financial Insurance (02328) “buy” rating, and the company's ROE is expected to reach more than 12%
Jinwu Financial News | According to Guolian Securities Research, China Financial Insurance (02328) achieved auto insurance premium income of 24.479 billion yuan in March, an increase of 3.1% over the previous year. The growth rate of the company's car insurance premiums improved month-on-month, and is expected to contribute mainly to the new car business and renewal business. In March, retail sales of passenger cars in the narrow sense of the word in China increased 6.0% year on year, which is expected to be mainly driven by the trade-in policy. Looking at the whole year, driven by the increase in automobile production and sales and the trade-in policy, the bank expects the company's car insurance premiums to increase by about 5%. The bank indicates that for car insurance COR, 24Q1 is affected by disasters such as freezing rain, etc., the company's payout rate
BOC International: Maintaining China Financial Insurance's “Buy” Rating and Raising the Target Price to HK$12
BOC International released a research report stating that the target price of China Financial Insurance (02328) will be raised by 14% from HK$10.5 to HK$12 based on the market account ratio of 1x in 2024 to maintain the “buy” rating. The company's leading market position is stable, its profitability is stable, its dividend capacity is sustainable, and its high dividend attributes are outstanding. The bank expects the company's underwriting profit and investment income to improve in 2024. Net profit to mother is expected to increase 7% per year, and ROE is expected to remain at 11%. The return on investment is expected to improve slightly in 2024.
[Broker Focus] BOC International raised the target price of China Financial Insurance (02328) by 14% to HK$12, indicating that the return on investment is expected to improve slightly this year
Jinwu Financial News | According to BOC International Development Research Report, China Financial Insurance (02328) expects that in 2024, under normal natural disasters, the COR for car insurance will remain around 97%, and the COR for non-car insurance will be controlled within 100%. The company maintains a solid leading edge in the auto insurance business. According to the bank, the total return on investment in 2023 was 3.5%, down 0.3 percentage points from the previous year. Joint ventures and joint ventures account for more than a quarter of the income. The bank expects a slight year-on-year improvement in the return on investment in 2024. Furthermore, the company has sufficient solvency and continuous dividend capacity. The bank expects the company to underwrite profits in 2024
Hong Kong Stock Announcement Nuggets | The total original premium income of the three major subsidiaries of the China People's Insurance Group increased 1.32% year-on-year to 253,031 billion yuan in the first three months
China Financial Insurance (02328)'s total insurance premium income of 173,977 billion yuan in the first three months increased 3.8% year on year; Huaneng International Power Co., Ltd. (00902) completed feed-in power generation of 113,036 billion kilowatt-hours in the first quarter, up 5.63% year on year
PICC Property And Casualty Logs Nearly 4% Boost in Q1 Premium Income
PICC Property And Casualty (HKG:2328) recorded an insurance premium income of around 174 billion yuan during the first quarter of 2024, up 3.8% from the year-ago period, a Monday filing on the Hong Ko
The total premium income of China Financial Insurance (02328) was 173,977 billion yuan in the first three months, up 3.8% year on year
According to the Zhitong Finance App, China Financial Insurance (02328) announced that the company's original insurance premium income from January 1, 2024 to March 31, 2024 totaled RMB 173,977 billion, an increase of 3.8% over the previous year.
Goldman Sachs: Maintaining China Financial Insurance's (02328) “Neutral” Rating and Raising the Target Price to HK$11
The Zhitong Finance App learned that Goldman Sachs released a research report stating that it raised the target price of China Financial Insurance (02328) by 2% from HK$10.8 to HK$11 to maintain a “neutral” rating. After FY2023 results, the bank raised Financial Insurance's underwriting profit forecast for FY2024 by 5% due to a lower comprehensive cost ratio (CR), which was partially offset by a slowdown in premium growth. The bank slightly lowered its underwritten profit for the 2025/26 fiscal year, leading to a 4% and 6% decrease in net profit forecasts. Additionally, the 2024-26 shareholders' equity forecast was raised by 1-2%, reflecting better-than-expected performance for the 2023 fiscal year.
Cathay Pacific Junan Insurance 24Q1 performance outlook: profit slightly negative, NBV maintains prosperity, and COR is under slight pressure
Guotai Junan released a research report saying that on the investment side, it is expected that there is currently limited room for further decline in long-term interest rates, and the equity market is showing a steady recovery trend, driving marginal improvements on the asset side and maintaining the “increase in holdings” in the insurance industry.
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