《大行報告》瑞銀微升中國再保險(01508.HK)目標價至1.1元 評級「買入」
瑞銀髮表報告指,河南鄭州自7月17日開始受水災嚴重影響,根據中銀保監於7月25日的報告,指河南保險業估損金額逾58億元人民幣,瑞銀指與2016年及2020年華南水災的保險損失水平相近。該行料最終保險業損失金額約100億元人民幣,屬相當龐大但可控,以市佔計料爲主要產險商今年綜合成本率(COR)帶來0.2至0.9個百分點的影響,對中國再保險(01508.HK)COR影響料少於一個百分點。
該行表示,中再保預料今年上半年稅後純利增長55%至65%,主要推動力包括全球財險及意外險的定價範圍提高。該行估計定價範圍持續上升,可支持集團未來兩至三年的盈利。
瑞銀上調中再保股份目標價,由1.09元微升至1.1元,評級維持「買入」,並調升集團今年至2022年盈利預測各2%,以反映其盈喜,但被河南水災影響所部分抵銷。
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