PICC Property and Casualty Co Ltd Class H
02328: XHKG (HKG)
Morningstar Rating for Stocks | Fair Value | Economic Moat | Capital Allocation |
---|---|---|---|
HK$65.00 | Nyccs | Qvqkscbdc |
PICC P&C’s Q1 Posted Stronger-Than-Expected Improvement in Nonauto Insurance
We have increased our fair value estimate for no-moat PICC P&C to HKD 10.50 from HKD 9.00 per share following its first-quarter results as we modestly lift our assumption for investment income and our underwriting assumption for nonauto insurance business including commercial property, liability, and accident insurance in 2022.