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02328 PICC P&C
RTNominal down6.220 -0.030 (-0.480%)
Research Report

05/02/2020 10:00

{I-bank focus}Daiwa lowers PICC P&C (02328) to HK$12.5

[ET Net News Agency, 5 February 2020] Daiwa Research lowered its target price for PICC
Property and Casualty (02328) to HK$12.5 from HK$13.2 and maintained its "buy" rating.
The research house said some P&C insurance is distributed via the"2C" (To Consumer)
channel, but such reliance is relatively lower. For PICC P&C, the premiums sold through
agents made up 62% of its total insurance premiums for 1H 2019.
Most of its other premiums are sold via the Internet, which makes up a larger portion
than life insurance. The selling process for auto insurance is less sophisticated than
protection life insurance. Daiwa believes the suspension of business activities in China
as a result of the coronavirus may drag premium growth for cargo and credit insurance.

Remark: Real time quote last updated: 07/08/2020 17:58
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