Core Viewpoint - UBS reports that Sunshine Insurance (06963) is expected to show strong performance in new business value and intrinsic value in the first half of 2025, with a projected year-on-year increase of 47% in new business value, a 14% growth in intrinsic value compared to the second half of last year, and a 7.8% increase in net profit [1] Group 1: Business Performance - New business value is expected to grow significantly, driven by margin expansion [1] - The intrinsic value of life insurance is projected to increase by 14% compared to the second half of last year [1] - Net profit is anticipated to rise by 7.8% [1] Group 2: Market Outlook - The growth of new business value in the second half of the year is expected to slow down due to a low base, aligning with industry trends [1] - A reduction in the pricing interest rate benchmark for ordinary insurance products is likely to shift demand towards participating insurance products [1] Group 3: Target Price Adjustment - UBS has raised the target price for Sunshine Insurance from HKD 3.4 to HKD 4.7 [1]
瑞银：升阳光保险目标价至4.7港元 上半年新业务价值及内涵价值表现强劲