大行评级|高盛:首予富卫保险“买入”评级 相信公司内涵值增长处转折点

格隆汇
Aug 13

高盛首次覆盖研究富卫保险,给予“买入”评级及目标价44港元。富卫保险为新兴泛亚寿险公司,在亚洲10个市场营运,并集中于东南亚快速增长的市场。基于公司对比区内领先筹险规模较小,其在交出更快内涵值增长上处更有利位置。但公司自2020年以来内涵值增长为负数,受不利经营趋势及市场波动影响。在2023年至2024年收紧经营假设后,该行相信公司内涵值增长处转折点。该行预测富卫保险今年至2027年交出平均14.3%的内涵值回报率,对比2022年至2024年的负5.4%,主要由经营改善及经济差异推动。

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