野村:下調中資壽險公司目標價3-7% 首選中國平安(2318.HK)
野村發表研究報告指,現時人壽保險的狀況與2016年的情況愈趨相似,低息環境將會成為重要挑戰。鑑於宏觀風險增加,而武漢肺炎又令險企新業務價值(NBV)受壓,因此下調人壽保險公司目標價3-7%,但仍推薦高質量公司,首選股份仍是中國平安(2318.HK)。
又指,與2016年相比,今年人壽保險的保費增長較弱但業務組合較佳,料今年平均NBV增長6%,2016年則為58%,而今年估值倍數較當年低。該行預期,今年首季受武漢肺炎影響,NBV按年將錄得雙位數下跌,但若疫情受控,有機會在4月底反彈。該行下調2020財年人壽保險公司NBV增長3個點子,以反映武漢肺炎的短暫性影響。

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