[ET Net News Agency, 16 January 2018] HSBC Global Research tweaked its target price for
China Re (01508) to HK$2.03 from HK$1.92, and maintained its "hold" rating.
The research house said China Re is uniquely positioned to reap home-market advantages
with limited exposure to international reinsurance markets but under pressure from strong
capitalisation of primary players and rising competition.
HSBC added that China Re's primary P&C business, Continent P&C, accounting for 20% of
group PBT is impacted by the government's latest motor rate liberalisation efforts
considering motor accounts for 80% of China Re's P&C business. (KL)