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華泰證券:看好資負匹配、增長動能和利潤彈性相對均衡的保險公司
華泰證券認為,低利率環境雖不利於保險投資,但有利於壽險銷售。過去一年多時間裏,儘管壽險行業出於防範利差損的考慮,頻繁下調產品定價利率,但壽險新業務價值(NBV)始終維持了強勁的增長勢頭。市場可能對2020—2022年間的NBV負增長心有餘悸,對銷售復甦勢頭仍存有疑慮,投資者可能低估了低利率環境下消費者對於安全型金融產品的偏好。看好資負匹配、增長動能和利潤彈性相對均衡的公司。
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