Core Viewpoint - Bank of America Securities reports that China People's Insurance Group (01339) achieved a 14% year-on-year increase in net profit for the first half of the year [1] Group 1: Financial Performance - The company experienced stable premium growth, with property and casualty insurance business increasing by 4% year-on-year [1] - The combined expense ratio decreased to 94.8% [1] - The new business value for life insurance grew by 27% to 8.8 billion RMB [1] Group 2: Earnings Forecast and Target Price - Bank of America has raised its earnings forecast for the company for 2025 to 2027 by 1% to 10%, reflecting higher investment income assumptions and expectations for property and casualty insurance revenue [1] - The target price for the company has been increased by 7%, from 6.6 HKD to 7 HKD, while maintaining a "Neutral" rating [1]
美银证券：升中国人民保险集团目标价至7港元 上半年稳步增长 重申“中性”评级