It is called a loss, and it may not be a loss every year.
The insurance sector is facing valuation repair
Liu Ankun, strategist of Rongtong Fund, said that at present, the P/EV of insurance stocks is around 1 time, and the positions held by institutions are extremely low, so the insurance sector has the allocation value of valuation repair.
according to the third quarterly report of the fund, the proportion of insurance stocks in heavy positions is only .76%, which is the lowest in history.
According to statistics of Haitong Securities, the profit decline of listed insurance companies has narrowed due to the year-on-year improvement of the stock market. The profit in the third quarter increased slightly by 6% year-on-year, and the performance in the fourth quarter is expected to continue to improve. The total floating profit of the four listed insurance companies rose from 37.8 billion yuan in the middle of the year to 49.4 billion yuan at the end of the third quarter.
The premium income from January to October just disclosed by four listed insurance companies also showed an overall growth trend, with a cumulative premium income of 1,94.17 billion yuan, an increase of 17.48% compared with 931.251 billion yuan in the same period of 215.
In this regard, the above-mentioned Shanghai fund company said, "The rise of the insurance sector today is mainly due to the low valuation level. Generally speaking, the PB of insurance stocks in history is between .8 and 1.2, and the current PB is around 1. Moreover, the current market atmosphere is to tap all low-priced stocks. It is expected that there will still be some room for growth in the future. It is expected that the market style will not change much at the end of the year. "
However, Liu Ankun emphasized that "historically, the beta property of insurance stocks is stronger than the improvement logic of the investment side, so it is only the logic of repair at present."
Further reading: How to buy insurance, which is better, and teach you how to avoid these "pits" of insurance.