Group 1 - Goldman Sachs initiates coverage on FWD Insurance with a "Buy" rating and a target price of HKD 44 [1] - FWD Insurance operates in 10 markets across Asia, focusing on the rapidly growing Southeast Asian market [1] - The company is positioned favorably for faster intrinsic value growth compared to regional peers with smaller insurance scales [1] Group 2 - Since 2020, FWD Insurance has experienced negative intrinsic value growth due to adverse operating trends and market volatility [1] - Following a tightening of operating assumptions from 2023 to 2024, Goldman Sachs believes the company is at a turning point for intrinsic value growth [1] - The firm forecasts an average intrinsic value return of 14.3% for FWD Insurance from 2023 to 2027, a significant improvement from the negative 5.4% projected for 2022 to 2024, driven by operational improvements and economic differentials [1]
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
Ge Long Hui·2025-08-13 06:18