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大和:部分内险下半年新业务价值或见双位数增长
格隆汇 09-02 16:12

大和发表研究报告指,中国保险企业上半年纯利及新业务价值都稍为较预期弱。对于下半年,该行认为,在资产及负债方面都将会有正面因素推动一些企业的评级。行业首选为中国人寿(2628.HK)、新华保险(1336.HK)及友邦保险(1299.HK)。

大和表示,由于新冠肺炎疫情下,面对面会议等活动受限制,加上消费者的保守消费态度,保险企业的新业务或多或少都受到影响。受新业务价值利润率下跌拖累,行业整体新业务价值按年下跌14%。该行强调,中国人寿、新华保险及友邦保险新业务价值在第二季录得正增长,而中国平安(2318.HK)、中国太保(2601.HK)及中国太平(0966.HK)的新业务价值就按年下跌25%至44%。

在疫情及经济渐趋稳定的情况下,该行估计行业的新业务价值将按年恢复增长11%。当中,在过去12个月内扩大代理团队的公司,例如新华保险、友邦中国等,以及基数较低的企业,都将能表现优于大市,基数较低的企业下半年增长更或见双位数。

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