瑞信发表研究报告指出，友邦(1299.HK)股价于过去两周累跌14%，跑输恒指。而友邦中国业务近年新业务价值录得负增长，加上对经济增长放缓的担忧，部分投资者愈来愈忧虑公司于中国的风险敞口和增长前景，以及资本市场波动。估计友邦今年下半年的内涵价值前景将受多重资本市场不利因素影响。
虽然该行认为友邦中国业务面临挑战，但仍期望其新业务价值远超同行。此外，尽管目前边境重新开放时间仍存不确定性，但内地访港旅客投保业务(MCV)对海外保险的需求应稳健。
瑞信预期，友邦股价已反映对内地、MCV业务及东盟经济放缓的不利因素。在压力很大情况下，友邦合理值料为63港元。维持其目标价85港元及“跑赢大市”评级。
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