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Changes in Hong Kong stocks | Domestic insurance stocks continue to decline recently, and new insurance orders face high base growth pressure, and the core constraint is still hidden concerns about interest spreads and losses
Domestic insurance stocks continued their recent decline. As of press release, Xinhua Insurance (01336) fell 2.71% to HK$17.2; China Life (02628) fell 2.42% to HK$12.12; and China Taibao (02601) fell 0.93% to HK$21.3.
Nomura Adjusts China Pacific Insurance (Group)'s Price Target to HK$29.04 From HK$26.14, Keeps at Buy
03:01 AM EDT, 05/22/2024 (MT Newswires) -- Nomura Adjusts China Pacific Insurance (Group)'s Price Target to HK$29.04 From HK$26.14, Keeps at Buy Price (HKD): $21.30, Change: $+0.25, Percent Change: +1
China Merchants Securities: In April, the premium income of listed insurers was steady, and the asset side ushered in triple catalysis
Recently, listed insurers disclosed the original insurance premium income from January to April 2024. The monthly increase in life insurance premiums of various companies in April was mainly driven by renewal, and the value performance may be better than expected; the growth rate of financial insurance premiums is not expected to be due to differences in the auto insurance business.
China Pacific Insurance AGM Update and Amendments
China Merchants Securities: The insurance sector continues to rise, optimistic about investment opportunities in the life insurance sector
An insurance sector with undervaluation, low holdings, and low expectations, or an excellent choice reflecting the equity market, real estate expectations, and interest rate environment at the moment.
Open Source Securities: 24Q1 insurers report high quality growth, and the annual NBV growth rate is expected to be better than the forecast at the beginning of the year
The Zhitong Finance App learned that Open Source Securities released a research report saying that looking ahead to the full year of 24, the listed insurer NBV is expected to maintain a good growth rate. The cumulative NBV growth rate is expected to decline somewhat. The Q1NBV growth rate exceeds expectations and the value ratio continues to improve, and the annual NBV growth rate is expected to be better than market expectations at the beginning of the year; multiple regulatory measures have been taken (planned interest rate reduction, integration of reporting, lowering universal and dividend insurance settlement interest rates, and abolishing the “1+3” branch limit for bank insurance products), leading insurers are actively adjusting product structures (improving prepayment products and shortening the longevity of key products) term difference), estimated industry debt
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