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穆迪:維持眾安在線(6060.HK)"Baa1"保險財務實力評級,評級展望仍為正面

穆迪投資者服務公司已維持眾安在線 Baa1的保險財務實力評級和Baa2的高級無抵押債務評級。

同時,眾安在線的評級展望仍為正面。

評級理據

維持眾安在線Baa1的保險財務實力反映了該公司的市場地位得到提升,保費增速持續高於行業平均水平;承保盈利能力改善,側重盈利的產品線;在維持穩定的資本水平的同時,該公司的產品結構更加多元化。

根據原保費計算,眾安在線財產保險股份有限公司是中國第九大財產和意外險公司及最大的互聯網保險公司。2015年以來該公司持續實現兩位數的保費增長,遠高於行業平均水平,因此改善了其市場地位,並繼續加強其品牌實力。2022年該公司的保費收入較2021年增長16%,主要推動因素是健康和數字生活業務的增長以及車險業務的回升。此外,與幾年前相比,該公司的產品結構多樣化程度上升,同時對退運險的依賴度降低。

自2021年首次實現承保盈利以來,眾安保險的承保盈利能力繼續改善。該公司的綜合成本率從2021年的99.6%改善至2022年的98.5%,主要原因是賠付率下降。賠付率的改善主要得益於該公司的健康險承保和理賠管理提升,以及疫情期間旅遊意外險和車險的理賠減少。

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