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交银国际:8月寿险保费收入增速放缓 首选太保(2601.HK)和平安(2318.HK)
格隆汇 09-18 16:29

交银国际发表研报指,除国寿(2628.HK)外,8月份上市寿险公司保费收入增速放缓。首8月寿险保费收入增速来看,中国太平(0966.HK)、中国平安(2318.HK)、新华保险(1336.HK)、中国人寿、中国太保(2601.HK)分别为10.9%、9.2%、8.1%、5.8%、5.5%,五家累计同比增速7.4%,5月以来稳中有升,主要受到国寿影响。平安寿险业务个险新单同比下降,但单月数据具有较大波动性,报告认为新单保费降幅仍将呈收窄趋势。

财险保费收入来看,太保增速呈加快态势,人保、平安和太平保持稳定。10年期国债收益率在目前近3%的水平有望趋稳,短期内通胀压力使货币政策的宽松受到一定限制,有助缓解市场对利率进一步下行的担忧。行业仍面临困难增长环境,交银国际重点推荐经营稳健、注重业务和增长质量的龙头寿险公司,首选太保H股和平安H股买入。

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