[ET Net News Agency, 13 August 2020] Nomura raised its target price for ZhongAn Online
P & C Insurance (06060) to HK$31.46 from HK$27.45 and maintained its "reduce" rating.
The research house expects Zhong An to report health insurance premium growth of 105%
for 1H, higher than P&C industry short-term health premium growth of 40%, thanks to its
online operation model.
Hence, Nomura expects health insurance's share in Zhong An's overall business to have
increased significantly, to 43% for 1H from 24% in 1H 2019. Meanwhile, it expects the
consumer finance business, where the asset quality has been deteriorating, to report a
premium decrease of 50% in 1H. Hence, it expects consumer finance share in the overall
business mix to decrease significantly to 13% from 29% in 1H 2019.
Looking ahead, Nomura expects increased competition in the health business, as auto
insurance profitability will likely deteriorate once the comprehensive auto insurance
reform is launched. (KL)
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06060 ZA ONLINE
Nominal 
13.120 +1.000 (+8.251%) Research Report
13/08/2020 16:30
{I-bank focus}Nomura raises ZA Online (06060) to HK$31.46
| Remark: | Real time quote last updated: 26/04/2024 18:00 |
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