《大行報告》瑞信料友邦(01299.HK)去年新業務價值按年跌32% 維持「跑贏大市」評級
瑞信發表研究報告,指出友邦保險(01299.HK)將於下月12日開市前公布2020年度業績,估計期內新業務價值錄28億美元,按年跌32%,第四季則錄6.89億美元,按實際匯率計按年跌23%;內含價值錄651億美元,按半年增長9%;稅後經營溢利59億美元,按年增長3.1%;每股派息按年增3%至1.3元。
內地業務方面,該行預期公司第四季的新業務價值疲弱,這是因為公司的首要任務是今年「開門紅」的銷售準備工作,而不是追求去年的目標;利潤率受壓;以及疫情的持續影響。然而新業務銷售今年來表現強勁,首季的新業務價值增長料錄雙位數增長。
香港業務方面,第四季的新業務銷售仍疲弱,因為本地銷售受到疫情影響。內地人士之保險業務維持接近零,澳門邊境重開後,新業務價值銷售強勁,意味內地旅客對香港保險的需求具韌性。該行維持友邦的目標價為120元,投資評級在「跑贏大市」不變。
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