Investor Optimism Abounds Zhongmiao Holdings (Qingdao) Co., Ltd. (HKG:1471) But Growth Is Lacking
Jul 31
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Hong Kong (HSI) Insurance Industry Analysis
UpdatedAug 10, 2025
DataAggregated Company Financials
Companies14
- 7D2.2%
- 3M31.7%
- 1Y82.5%
- YTD48.9%
Over the last 7 days, the Insurance industry has risen 2.2%, driven by gains from AIA Group of 3.2%. This means that the industry has gained 82% over the past year. Looking forward, earnings are forecast to decline by 2.0% 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, 10 Aug 2025 | HK$2.9t | HK$2.1t | HK$291.8b | 10.6x | 9.9x | 1.4x |
| Tue, 08 Jul 2025 | HK$2.8t | HK$2.1t | HK$292.1b | 9.7x | 9.5x | 1.3x |
| Thu, 05 Jun 2025 | HK$2.6t | HK$2.1t | HK$291.3b | 7.8x | 8.8x | 1.2x |
| Sat, 03 May 2025 | HK$2.3t | HK$2.0t | HK$283.0b | 8.3x | 8.2x | 1.2x |
| Mon, 31 Mar 2025 | HK$2.4t | HK$2.0t | HK$274.5b | 8x | 8.6x | 1.2x |
| Wed, 26 Feb 2025 | HK$2.3t | HK$2.5t | HK$221.8b | 8x | 10.5x | 0.9x |
| Fri, 24 Jan 2025 | HK$2.3t | HK$2.5t | HK$221.6b | 7.4x | 10.4x | 0.9x |
| Sun, 22 Dec 2024 | HK$2.3t | HK$2.5t | HK$221.0b | 7.3x | 10.5x | 0.9x |
| Tue, 19 Nov 2024 | HK$2.5t | HK$2.5t | HK$222.9b | 7.6x | 11.1x | 1x |
| Thu, 17 Oct 2024 | HK$2.5t | HK$2.5t | HK$142.7b | 8.5x | 17.6x | 1x |
| Sat, 14 Sep 2024 | HK$2.1t | HK$2.5t | HK$143.4b | 7.6x | 14.3x | 0.8x |
| Mon, 12 Aug 2024 | HK$1.9t | HK$2.4t | HK$118.9b | 8.4x | 15.9x | 0.8x |
| Wed, 10 Jul 2024 | HK$1.9t | HK$2.4t | HK$117.9b | 7.7x | 15.8x | 0.8x |
| Fri, 07 Jun 2024 | HK$2.0t | HK$2.4t | HK$118.1b | 8.4x | 16.9x | 0.8x |
| Sun, 05 May 2024 | HK$2.0t | HK$2.4t | HK$118.2b | 7.9x | 17x | 0.8x |
| Tue, 02 Apr 2024 | HK$1.9t | HK$2.4t | HK$124.3b | 7.6x | 14.9x | 0.8x |
| Thu, 29 Feb 2024 | HK$2.0t | HK$2.9t | HK$92.4b | 7.7x | 22.1x | 0.7x |
| Sat, 27 Jan 2024 | HK$2.0t | HK$2.9t | HK$93.0b | 7.2x | 21.6x | 0.7x |
| Mon, 25 Dec 2023 | HK$2.7t | HK$4.5t | HK$179.1b | 6.9x | 15x | 0.6x |
| Wed, 22 Nov 2023 | HK$3.0t | HK$4.5t | HK$184.5b | 7.8x | 16.2x | 0.7x |
| Fri, 20 Oct 2023 | HK$3.1t | HK$4.4t | HK$191.6b | 8x | 16x | 0.7x |
| Sun, 17 Sep 2023 | HK$3.2t | HK$4.4t | HK$192.6b | 8.8x | 16.5x | 0.7x |
| Tue, 15 Aug 2023 | HK$3.2t | HK$4.2t | HK$207.6b | 9x | 15.6x | 0.8x |
| Thu, 13 Jul 2023 | HK$3.3t | HK$4.2t | HK$209.7b | 9.2x | 15.6x | 0.8x |
| Sat, 10 Jun 2023 | HK$3.5t | HK$4.2t | HK$211.8b | 9.6x | 16.6x | 0.8x |
| Mon, 08 May 2023 | HK$3.8t | HK$4.4t | HK$225.9b | 10.5x | 16.6x | 0.9x |
| Wed, 05 Apr 2023 | HK$3.3t | HK$4.3t | HK$200.0b | 9.8x | 16.6x | 0.8x |
| Fri, 03 Mar 2023 | HK$3.7t | HK$4.4t | HK$248.8b | 7.3x | 14.7x | 0.8x |
| Sun, 29 Jan 2023 | HK$3.8t | HK$4.4t | HK$251.9b | 8.2x | 15.1x | 0.9x |
| Tue, 27 Dec 2022 | HK$3.5t | HK$4.3t | HK$245.6b | 7.6x | 14.1x | 0.8x |
| Thu, 24 Nov 2022 | HK$3.0t | HK$4.1t | HK$234.3b | 6.2x | 13x | 0.7x |
| Sat, 22 Oct 2022 | HK$2.7t | HK$4.1t | HK$241.4b | 5.9x | 11.3x | 0.7x |
| Mon, 19 Sep 2022 | HK$3.0t | HK$4.2t | HK$248.0b | 7x | 12.2x | 0.7x |
| Wed, 17 Aug 2022 | HK$2.9t | HK$4.4t | HK$280.3b | 6.4x | 10.5x | 0.7x |
Price to Earnings Ratio
10.5x
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 9.9x which is lower than its 3-year average PE of 14.4x.
- The 3-year average PS ratio of 0.86x is lower than the industry's current PS ratio of 1.4x.
Past Earnings Growth
- The earnings for companies in the Insurance industry have remained mostly flat over the last three years.
- Meanwhile revenues for these companies have declined 22% per year.
- This means that the cost of doing business could be reducing since sales have declined but profits have remained steady.
Industry Trends
Which industries have driven the changes within the Hong Kong Financials industry?
| HK Market | 2.90% | |
| Financials | 2.63% | |
| Insurance | 2.23% | |
| Reinsurance | 6.77% | |
| Property and Casualty Insurance | 3.12% | |
| Life and Health Insurance | 1.87% | |
| Insurance Brokers | 0% | 0 |
| General Insurance | -2.76% | |
Industry PE
- Investors are most optimistic about the General Insurance industry which is trading above its 3-year average PE ratio.
- Analysts are expecting annual earnings growth of 19.3%, which is higher than its past year's earnings growth of 0.7% per year.
- Investors are most pessimistic about the Reinsurance industry, which is trading close to its 3-year average of 5.4x.
Forecasted Growth
- Analysts are most optimistic on the General Insurance industry, expecting annual earnings growth of 19% over the next 5 years.
- This is better than its past earnings growth rate of 0.7% per year.
- In contrast, the Life and Health Insurance industry is expected to see its earnings decline by 3.9% 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$73.60 | 3.2% +HK$23.5b | 39.9% | PE14.4x | |
| 2328 PICC Property and Casualty | HK$16.70 | 3.0% +HK$10.7b | 69.5% | PE10.6x | |
| 1339 People's Insurance Company (Group) of China | HK$6.19 | 3.3% +HK$8.8b | 138.1% | PE5.4x | |
| 2628 China Life Insurance | HK$22.46 | 1.4% +HK$8.8b | 117.6% | PE5x | |
| 1508 China Reinsurance (Group) | HK$1.42 | 6.8% +HK$3.8b | 115.2% | PE5.2x |
