《大行報告》匯豐研究調整部分內險股目標價 首選中國平安(02318.HK)
匯豐研究發表報告指,內險股今年以來股價表現跑贏大市,但近期市場情緒再次惡化。調整部分內險股目標價,詳見另表。首選爲中國平安(02318.HK)。
該行預測,上半年內險股新業務價值增長10至24%,下半年年新業務價值增長將放緩至9至20%。同時,今年下半年產品組合或轉向分紅產品。至於代理人數量似乎已開始穩定,生產率提高應開始變得更加明顯。該行亦提到,由於商用車輛定價區間擴大和今年大額索賠事件,料會影響財險綜合成本率。
該行稱,實施IFRS 17後的披露將令投資者更好地瞭解新業務、賬面攤銷、投資回報等。另外,投資者亦關注內險股對陷入困境內房商的風險敞口。
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