Investors Aren't Entirely Convinced By China Taiping Insurance Holdings Company Limited's (HKG:966) Earnings
Jan 27
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Hong Kong (HSI) Insurance Industry Analysis
UpdatedFeb 15, 2025
DataAggregated Company Financials
Companies12
- 7D3.6%
- 3M2.3%
- 1Y28.2%
- YTD8.8%
Over the last 7 days, the Insurance industry has risen 3.6%, driven by gains from AIA Group of 6.0%. In the last 12 months, the industry was up 28%. Looking forward, earnings are forecast to decline by 4.0% per year.
Industry Valuation and Performance
Has the Hong Kong Insurance Industry valuation changed over the past few years?
| Date | Market Cap | Revenue | Earnings | PE | Absolute PE | PS |
|---|---|---|---|---|---|---|
| Sun, 16 Feb 2025 | HK$2.4t | HK$2.5t | HK$222.0b | 7.6x | 10.7x | 0.9x |
| Tue, 14 Jan 2025 | HK$2.2t | HK$2.5t | HK$220.4b | 6.9x | 9.8x | 0.9x |
| Thu, 12 Dec 2024 | HK$2.4t | HK$2.5t | HK$221.6b | 7.7x | 11x | 1x |
| Sat, 09 Nov 2024 | HK$2.7t | HK$2.5t | HK$224.2b | 8.7x | 12x | 1.1x |
| Mon, 07 Oct 2024 | HK$2.8t | HK$2.5t | HK$143.4b | 9.2x | 19.2x | 1.1x |
| Wed, 04 Sep 2024 | HK$2.1t | HK$2.3t | HK$157.9b | 7.9x | 13.2x | 0.9x |
| Fri, 02 Aug 2024 | HK$2.0t | HK$2.4t | HK$118.2b | 8.6x | 16.7x | 0.8x |
| Sun, 30 Jun 2024 | HK$1.9t | HK$2.4t | HK$117.9b | 8.2x | 16.2x | 0.8x |
| Tue, 28 May 2024 | HK$2.1t | HK$2.4t | HK$118.1b | 8.8x | 17.6x | 0.9x |
| Thu, 25 Apr 2024 | HK$1.8t | HK$2.4t | HK$123.7b | 8.4x | 14.9x | 0.8x |
| Sat, 23 Mar 2024 | HK$1.9t | HK$2.8t | HK$113.7b | 6.9x | 16.6x | 0.7x |
| Mon, 19 Feb 2024 | HK$2.1t | HK$2.9t | HK$92.5b | 7.1x | 22.2x | 0.7x |
| Wed, 17 Jan 2024 | HK$2.6t | HK$4.2t | HK$178.0b | 7.1x | 14.7x | 0.6x |
| Fri, 15 Dec 2023 | HK$2.7t | HK$4.5t | HK$178.9b | 6.9x | 14.8x | 0.6x |
| Sun, 12 Nov 2023 | HK$2.9t | HK$4.4t | HK$181.3b | 7.6x | 15.9x | 0.6x |
| Tue, 10 Oct 2023 | HK$3.1t | HK$4.4t | HK$192.4b | 8.4x | 16.3x | 0.7x |
| Thu, 07 Sep 2023 | HK$3.3t | HK$4.4t | HK$192.2b | 8.9x | 17x | 0.7x |
| Sat, 05 Aug 2023 | HK$3.4t | HK$4.2t | HK$209.5b | 9.9x | 16.5x | 0.8x |
| Mon, 03 Jul 2023 | HK$3.3t | HK$4.2t | HK$208.2b | 9.7x | 15.8x | 0.8x |
| Wed, 31 May 2023 | HK$3.4t | HK$4.3t | HK$213.2b | 9.6x | 16.1x | 0.8x |
| Fri, 28 Apr 2023 | HK$3.7t | HK$4.3t | HK$198.9b | 11.1x | 18.5x | 0.9x |
| Sun, 26 Mar 2023 | HK$3.3t | HK$4.3t | HK$208.1b | 6.6x | 16x | 0.8x |
| Tue, 21 Feb 2023 | HK$3.6t | HK$4.4t | HK$249.6b | 7.5x | 14.4x | 0.8x |
| Thu, 19 Jan 2023 | HK$3.7t | HK$4.4t | HK$252.6b | 7.9x | 14.8x | 0.8x |
| Sat, 17 Dec 2022 | HK$3.5t | HK$4.3t | HK$244.6b | 7.1x | 14.2x | 0.8x |
| Mon, 14 Nov 2022 | HK$2.9t | HK$4.1t | HK$235.8b | 6.2x | 12.5x | 0.7x |
| Wed, 12 Oct 2022 | HK$2.8t | HK$4.1t | HK$243.1b | 6.1x | 11.6x | 0.7x |
| Fri, 09 Sep 2022 | HK$3.0t | HK$4.2t | HK$248.8b | 6.8x | 12.2x | 0.7x |
| Sun, 07 Aug 2022 | HK$3.0t | HK$4.4t | HK$281.0b | 6.7x | 10.6x | 0.7x |
| Tue, 05 Jul 2022 | HK$3.4t | HK$4.4t | HK$280.7b | 7.1x | 12x | 0.8x |
| Thu, 02 Jun 2022 | HK$3.1t | HK$4.5t | HK$281.6b | 6.3x | 10.9x | 0.7x |
| Sat, 30 Apr 2022 | HK$3.1t | HK$3.1t | HK$293.2b | 5.8x | 10.6x | 1x |
| Mon, 28 Mar 2022 | HK$3.2t | HK$4.6t | HK$321.3b | 4.8x | 10x | 0.7x |
| Wed, 23 Feb 2022 | HK$3.6t | HK$4.9t | HK$357.6b | 5.4x | 10.1x | 0.7x |
Price to Earnings Ratio
10.1x
Current Industry PE
- Investors are pessimistic on the Hong Kong Insurance industry, indicating that they anticipate long term growth rates will be lower than they have historically.
- The industry is trading at a PE ratio of 10.7x which is lower than its 3-year average PE of 14.6x.
- The industry is trading close to its 3-year average PS ratio of 0.79x.
Past Earnings Growth
- The earnings for companies in the Insurance industry have declined 15% per year over the last three years,
- Revenues have also declined 20% per year.
- This means overall sales from these companies are declining and profits are subsequently falling as well.
Industry Trends
Which industries have driven the changes within the Hong Kong Financials industry?
| HK Market | 4.28% | |
| Financials | 4.35% | |
| Insurance | 3.59% | |
| General Insurance | 16.40% | |
| Life and Health Insurance | 4.33% | |
| Reinsurance | 2.27% | |
| Property and Casualty Insurance | 1.17% | |
| Insurance Brokers | 0% | 0 |
Industry PE
- Investors are most optimistic about the Life and Health Insurance industry even though it's trading below its 3-year average PE ratio of 18.8x.
- Analysts are expecting annual earnings decline of 6.4%, which is lower than the prior year's growth of 21.3% per year.
- Investors are most pessimistic about the Reinsurance industry, which is trading below its 3-year average of 5.4x.
Forecasted Growth
- Analysts are most optimistic on the Property and Casualty Insurance industry, expecting annual earnings growth of 4.6% over the next 5 years.
- However this is lower than its past earnings growth rate of 26% per year.
- In contrast, the General Insurance industry is expected to see its earnings decline by 52% per year over the next few years.
Top Stock Gainers and Losers
Which companies have driven the market over the last 7 days?
| Company | Last Price | 7D | 1Y | Valuation | |
|---|---|---|---|---|---|
| 1299 AIA Group | HK$56.30 | 6.0% +HK$34.1b | -12.4% | PE16x | |
| 2628 China Life Insurance | HK$15.58 | 3.6% +HK$15.3b | 59.8% | PE4.7x | |
| 2328 PICC Property and Casualty | HK$13.44 | 2.9% +HK$8.5b | 39.3% | PE12.2x | |
| 6060 ZhongAn Online P & C Insurance | HK$14.80 | 19.5% +HK$3.7b | 10.9% | PE5.4x | |
| 1508 China Reinsurance (Group) | HK$0.90 | 2.3% +HK$849.6m | 109.3% | PE3.8x |
