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大和:予中國財險(2328.HK)“買入”評級
格隆匯 02-20 16:05

大和發佈報告稱,中國財險(2328.HK)將於3月27日公佈2019業績,初步結果顯示公司淨利潤按年增長35%至60%,該行預計,去年的綜合成本率(CoR)為98.7%,反映去年下半年為99.8%,按年增長100個基點,可能是受到車險推動,但同時信貸保險及農業保險拖累。

該行重申,相對於內地的壽險公司,更喜歡中國財險,並預料其基本股本回報率(ROE)將由2018年的11%上升至明年的15%,將持續處於約15%的水平,該行予公司“買入”評級。

大和表示,1月份的保費收入同比下跌3.3%,主要由於農曆新年較2019年提早,1月份的營業日減少6天;新車銷售疲弱,影響汽車保險需求;以及在內地政府主導的健康保險推動下,去年1月份的保費收入同比增長31%,從而使基數較高。

該行又認為,人保財險在今次新型冠狀病毒肺炎疫情下,所受的影響較壽險少,因為其在線分銷比例較高,加上受利率的影響亦較低。

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