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野村维持平保(2318.HK)“买入”评级目标价118.11港元仍为行业首选
格隆汇 08-16 11:42

野村发表研究报告称,中国平安(2318.HK)今年上半年的业绩中,大部分的关键指标都超出该行预期。该行维持平保目标价118.11港元,以及“买入”评级,并重申平保仍然是该行在行业中的首选。

该行表示,平保上半年税后运营利润同比增长24%,主要受到寿险业务增长37%,以及产险业务增长69%所推动,但受到科技业务下滑33%拖累。集团寿险业务的内含价值(EV)上升16%,较该行预期高出2%。上半年代理新业务价值增长放缓至2.5%,但新业务价值率升至44.7%。

该行指出,集团产险业务年化营运ROE由去年同期的17%,改善至25%,主要受到总投资回报率上升至5.2%。虽然市场份额有所下降,但承保利润仍保持在有利可图且高于行业水平的3.4%。

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