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大和:重申對內險行業正面立場 看好新華保險、中國人壽
格隆匯 10-13 10:45

大和發表研究報告表示,預計在2020年受到疫情大流行的嚴重打擊後,內險首季預售(jumpstart)銷售將恢復正常化,對首季預售感到樂觀,重申對內險行業正面立場;推薦新華保險(1336.HK),評級跑贏大市;中國人壽(2628.HK)評級買入。

報告表示,注意到中國保險公司對明年首季預售產品的準備時間比以往提早半個月-2個月,中國人壽已經開始在9月下旬啟動;平安人壽計劃提早開始預售並提高節省產品的比例;另外,鑑於年初至今穩固的新業務趨勢,新華保險專注於完成第四季的全年首年業務保費收入(FYP)目標,預售可能會在12月開始。但該行認為,產品的持續性較短,一般預售產品類型為10年期、3-5年有償年金,對比去年期間主要是15年期的產品。

大和表示,對首季預售持樂觀態度,預計首季預售的首年業務保費收入將按年有雙位數字增長;除了提早準備和短持續時間的產品,由於一年前基數較低,經濟強勁復甦,加上具競爭性的理財管理產品(WMP)可用性較低。

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