UBS Upgrades China Reinsurance To Buy, Raises Target Price To HK$1.75

UBS upgraded China Reinsurance from Neutral to Buy and lifted its target price from HK$1.70 to HK$1.75, according to 36Kr. The bank said it expects first-half after-tax net profit to rise 10% year on year to RMB 6.9 billion, driven by broad growth in insurance service performance rather than investment income. UBS also raised its 2026 to 2028 earnings per share forecasts by 8%, 13% and 7% to RMB 0.30, RMB 0.34 and RMB 0.35, respectively. It estimated first-half property and casualty reinsurance premium income rose 2% year on year, with domestic premiums up 3% on a higher non-motor business mix and overseas premiums broadly flat.