中国财险(2328.HK):纯财险标的 龙头优势稳固 增长潜力可期

华西证券
Jul 28

财险龙头地位稳固。中国财险作为国内最大财产险公司,市占率持续领跑行业。2024 年公司保费收入市占率达37.5%(显著高于平安产险22.5%、太保财险14.0%),净利润占行业比例高达47.3%,规模优势显著。其核心竞争力源于:1)持续承保盈利:近15 年综合成本率稳定低于100%(2024 年为96.8%),显著优于中小险企(行业综合成本率中位数102.8%)。2)费用管控卓越:规模效应下综合...

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