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Lyon: Domestic insurance stocks are bullish on Ping An of China and China Property & Casualty Insurance, both with "Buy" ratings

格隆汇2021-05-05

According to a research report published by Lyon, the new business performance of most mainstream life insurers has not been satisfactory since 2018. Considering the weak short-term demand, it is expected that the weak trend from February to March will continue for some time, and the accumulated demand has not yet emerged. It is believed that life insurance reform will become the focus of the market, among which supply-side reform is more important.

The bank pointed out that the latest round of auto insurance reform will speed up market integration, and small market participants will be eliminated one after another, expectedPRC P&CMarket leaders such as (2328.HK) will see a boost in share.

Lyon said it was more bullishPing An of China(2318.HK) and China P&C, both "Buy"rating, and rating PICC (1339.HK) from"Underperform the market"Raise to"Outperform the market", the target price was raised from HK$2.57 to HK$2.95.

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