《大行報告》大和降新華保險(01336.HK)評級至「持有」 目標價下調至22元
大和發表報告,將ESG因素納入對新華保險(01336.HK)的財務預測及估值框架,指集團最新的保險產品策略包括提供保險保障和財富管理。該行認為,長遠而言,其產品創新將有助於保費增長,例如率先推出農村重疾險產品和老人意外受傷保險。
不過,該行表示,人力資源為新華保險的主要弱點,預料集團在去年流失21萬個經紀,並估計其經紀人數在今年會繼續減少。
大和上調新華保險2021年每股盈利預測23%,以反映良好的投資,惟現時預測集團2021年至2022年的新業務價值將按年分別下跌32%及24%,主要由於經紀團隊數目及質素下降。該行將其評級由「買入」降至「持有」,目標價由29元下調至22元。
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