While investors shun Chinese bank stocks over fears of exposure to rising bad debt and a slowing economy, insurance has emerged as a bright spot in the financial sector, with an emerging middle class expected to buy more cover.
China's eight Hong Kong-listed insurers were valued at a median 10.7 times estimated 12-month forward earnings in early December, compared with 5 times for banks and 8.5 times for securities brokers, according to Thomson Reuters data.
Growth expectations are being fuelled by China’s low rate of insurance penetration, giving providers room to catch up. Premiums were only 3 per cent of Chinese gross domestic product in 2014, compared with 7 per cent in the US and 11 per cent in Japan, according to Swiss Re.
您已閱讀10%（736字），剩余90%（6904字）包含更多重要信息，訂閱以繼續(xù)探索完整內(nèi)容，并享受更多專屬服務(wù)。