瑞银发表报告指出，预期友邦保险(01299.HK) 去年新业务价值录47.77亿美元，按固定汇率计按年料增长19%，按实质汇率计料增长18%，相对于去年首九个月分别升22%及20%。该行认为友邦去年第四季增长放缓主要受内地及新加坡业务的影响。内地方面，公司与其他本土同业一样，季内面临一定的销售压力，并可能下调经济预测。
该行提及，如按实质汇率计，预期友邦去年税后经营溢利增长6.6%至66.22亿美元，意味着下半年按年升10%。该行料友邦去年每股派息增长7.1%至1.73港元，投资者关注公司的额外股份回购计划。
此外，友邦承诺将净自由盈余生成额(NFSG)的75%用于回报股东，以及返还超额资本，假如去年NFSG增长5%至10%，该行估计新的回购金额将约为7亿至8.5亿美元，考虑到超额资本后的实际回购金额或更高。
该行将友邦2024至2026年的税后纯利分别升1%、下调3%及维持不变，目标价由93元下调至91元，评级“买入”。(jl/da)(港股报价延迟最少十五分钟。沽空资料截至 2025-02-13 12:25。)
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