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大行评级|大摩:相信内险第三季盈利和新业务价值增长强劲

Morgan Stanley: Believes that China Life Insurance will have strong profit growth and new business value growth in the third quarter.

Gelonghui Finance ·  Oct 16 14:50  · Ratings

Morgan Stanley published a research report indicating that they believe the domestic insurance industry's third-quarter performance is ideal across all major indicators, mainly driven by the stock market rebound in September. Most companies' third-quarter profits grew by over 60% annually. The industry's new business value (VNB) growth may also be quite strong, averaging above a 50% level. Property and casualty insurance companies (P&C) maintain a healthy combined ratio (CoR) between 98.8% and 99.6% in the third quarter.

Morgan Stanley estimates that the net income growth of mainland insurance companies in the third quarter could reach 29% to 102%, with New China Life Insurance (expected to increase by 102% in net income from the previous quarter), China Life Insurance (expected to increase by 90% in net income from the previous quarter), the People's Insurance (expected to increase by 73% in net income from the previous quarter), and China Pacific Insurance (expected to increase by 66% in net income from the previous quarter) showing the fastest growth.

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