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大和:下調中國人壽(2628.HK)目標價至24港元 評級“買入”
格隆匯 03-27 15:36

大和發佈報告稱,中國人壽(2628.HK)仍維持其原來的全年新業務目標,公司正專注於使用在線工具進行經紀培訓、招聘及產品銷售。在今年的經紀團隊新業務上,公司計劃能保持穩定的經紀數目,並將會轉向有生產力的提升上。

管理層稱,其平均保證回報率為2.7%。考慮到死亡率及費用差額等因素,投資回報率的收支平衡點是低於2.7%。公司會定期審視保證回報率的產品,並在必要時作修改。此外,使產品的期限及投資資產相匹配是減輕利率風險的另一方法。

該行重申對內險股審慎的看法,將國壽目標價由28港元下調至24港元,將其2020至2021年的盈利預測分別下調4%及上調7%,維持“買入”評級。

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