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交銀國際:預計第3季上市保險公司盈利增長強勁 首選太保(0966.HK)和平保(2318.HK)
格隆匯 10-21 14:52

交銀國際發佈報告稱,從1-9月內地壽險保費收入同比開始增速來看,中國太平(00966.HK)為12.5%,平安(02318.HK)為9.2%,新華保險(01336.HK)為7.9%,國壽(02628.HK)6.1%,中國太保(02601.HK)5.7%,5家累計同比增速為7.7%,5月以來持續回升。從9月單月保費收入來看,國壽較8月有所改善,但仍好於3-7月各月,其他4家壽險公司保費收入增速速均較8月提高加快,太平人壽增長最為強勁,單月保費兩次增長27%,新華和太保增速均較7、8月加快。

該行表示,9月以來,10年期國債收益率呈現回升態勢,有助緩解市場對利率下行的擔憂,預計第3季上市保險公司盈利增長強勁,有助於推動行業估值在較低水平上有所改善,行業仍面臨銷售環境困難,重點推薦經營穩健、注重業務品質和增長質量的龍頭壽險公司,首選買入太保和平保。

從財險保費收入來看,太保保持巨大強勁的增長勢頭,人保(01339.HK)、平安和太平保持平穩。1-9月,太保產險保費收入同比增長13.8%,較首8個月提高1.3個百分點,9月單月先前增速達到24%;人保財險同比增長13%,年初以來增速呈預期趨勢,但下降幅度趨緩;平安同比增長8.9%,增速較為平穩,車險增速繼續放緩,非車險增速加快,意外與健康險保持較高增速;太平同比增長8.7%,增速穩中略降。

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