China Pacific Insurance’s, or CPIC's, trusted brand and extensive distribution network establish a strong foundation for steady long-term growth, thanks to continuing improvements in agent productivity and the company's stronger-than-peer capital position. However, challenges remain in the no-moat firm's near-term prospects.
The regulator has introduced solvency regulations that are more accommodating, including a lower risk weight to equity investment and the approval of perpetual bond issuance. We expect this should improve flexibility for future dividend payments.
The regulatory reduction in the commission rate paid to the bancassurance channel could lead to a further decline in sales over the near term, despite potentially better profitability in the long run.
|
Metric
|
601601
|
601318
|
01336
|
|---|---|---|---|
Price/Earnings (Normalized) | 10.20 | 8.97 | 6.77 |
Price/Book Value | 1.07 | 0.84 | 0.47 |
Price/Sales | 0.85 | 0.95 | 0.65 |
Price/Cash Flow | 1.99 | 3.37 | 0.49 |
|
Metric
|
601601
|
601318
|
01336
|
|---|---|---|---|
Quick Ratio | — | — | — |
Current Ratio | — | — | — |
Interest Coverage | 1.11 | 1.00 | 1.04 |
|
Metric
|
601601
|
601318
|
01336
|
|---|---|---|---|
Return on Assets (Normalized) | 1.20% | 0.94% | 0.62% |
Return on Equity (Normalized) | 11.03% | 11.99% | 7.77% |
Return on Invested Capital (Normalized) | 76.73% | 7.89% | 27.23% |
|
1-Day Chart
|
Name
|
Price
|
Morningstar Rating for Stocks
|
Capital Allocation
|
Economic Moat
|
Market Cap
|
|---|---|---|---|---|---|---|
| China Life Insurance Co Ltd Class H
CILJF
| — | Tjtj | $98.3 Bil | |||
| Ping An Insurance (Group) Co. of China Ltd Class H
PIAIF
| Zzvnxgtjr | Brw | $97.1 Bil | |||
| Ping An Insurance (Group) Co. of China Ltd ADR
PNGAY
| — | Wtzb | $97.1 Bil | |||
| AIA Group Ltd ADR
AAGIY
| — | Txbl | $75.3 Bil | |||
| AIA Group Ltd
AAIGF
| — | Tqf | $75.3 Bil | |||
| Aflac Inc
AFL
| Zpnvxlygs | Ywbjkw | $50.6 Bil | |||
| MetLife Inc
MET
| Qvffbklw | Ktcf | $49.4 Bil | |||
| Manulife Financial Corp
MFC
| Cqljwvtn | Crjnd | $47.8 Bil | |||
| Prudential Financial Inc
PRU
| Wytgmmxtk | Kbdl | $42.0 Bil | |||
| Prudential PLC ADR
PUK
| Lxjzjmxw | Lpmsf | $24.8 Bil |
