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大和:維持友邦保險(1299.HK)買入評級 目標價125港元
格隆匯 03-15 13:46

大和發表研究報吿指,看到友邦保險(1299.HK)務實的數碼化措施,併成為集團“第二條增長曲線”,並於大多數的營運指標上,都保持優於同業的表現。大和維持友邦目標價125港元,以及買入評級。

大和表示,集團在整個業務過程中推行數碼化轉型,其結構體系支持業務快速擴展和效率提升。該行認為,與一些同業相比,集團的對保險業務和金融監管方面有更深的瞭解,因此其對科技的投資更具針對性和成效。通過數碼平台,集團吸引更多客户,從而帶來新的增長機會。

隨着集團今年首兩個月的新業務價值錄得15%的反彈,該行估計,友邦中國今年首季新業務價值按年增長40%,主要是受到提前準備的年初預售、重大疾病產品升級、更高的代理人激勵措施,以及低基數效應所推動。受惠於數碼化技術的迅速普及,友邦中國去年的代理人數目估計增長16%,整個行業則按年減少6%。

該行強調,友邦審慎的利率預測,集團應受惠於當前全球利率上升。當利率上升50個基點,內含價值就升1%,新業務價值亦增長7%。

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