《大行报告》大和料友邦(01299.HK)第三季新业务价值按年升7%至7.35亿美元
大和发表研究报告,指出友邦保险(01299.HK)将于11月11日公布第三季业绩,该行预期公司按固定汇率(CER)(下同)计新业务价值(VONB)按年升7%至7.35亿美元。
该行认为,随著内地于7月以来放宽防疫措施,友邦于内地的新业务价值应实现正增长。虽然第二季「封城」轻微影响第三季的代理人数,但预期友邦保险中国新业务保费按年增长超过20%。至于香港业务则持续面对挑战,料友邦香港第三季新业务价值按年跌9%。另预期东盟大部分市场需求改善,料友邦新加坡及马来西亚的新业务价值录介乎约13%至17%增长,友邦泰国及集团其他市场则可能按年跌约10%。
大和重申对友邦的「买入」评级,目标价维持142元,认为公司仍是亚洲区保险股中的首选,并料公司新业务价值由第三季起复苏,由2022年上半年的跌13%,至下半年转为正增长,2023年料升17%;并受惠灵活中国战略;股东回报强劲,预测未来12个月达6.7%,受惠急速回购及今年下半年税后经营溢利复苏。
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