China's insurance premiums rise 3% increase in the steady growth of UOB materials

China's insurance premiums, which rose 13.8% in the first 5 months of this year, opened 2.84% to 5.07 Hong Kong dollars this morning, closing 660,000 shares.　　The company's latest announcement, the first 6 months of this year, the total premium income of 66.88 billion yuan (renminbi, the same below), a year-on-year increase of 13.53%, indicating June premium income continued to record a benign and stable growth. However, the UOB issued a report saying that the sales rating of the unit was maintained at a target price of HK $4.5, at a discount of 11% at market prices. China's insurance is expected to appear bargain-hunting, but the increase will be limited, because the current value of the equivalent of 2010 fiscal year, 1.7 times times the net rate, 2010 fiscal year, 14.3 times times earnings, still overvalued.　　But based on the judgment that car sales will remain strong in the coming months, UOB expects future premiums to be relatively stable. Credit Suisse maintained the neutral rating of the unit at a target price of HK $5.5. The improvement in the performance of China's insurance is attributed to weaker competition because of lower underwriting capacity (such as capital erosion) against smaller insurers, and a rise in the company's 2009 operating return, which reflects a sharp easing of competition.