US dollar Investment Grade Bond Trading Below Par
Sunshine Life Insurance 4.50% 20Apr2026
Price: 99.80
Yield to maturity: 4.53%
Advance margin: 75%
Leverage YTM based on 70% loan: 10.43%
Ccy: USD
Moody's: Baa1
Fitch: A-
52 weeks high: 107.27
52 weeks low: 97.30
Sunshine Life Insurance is China's 7th largest insurance group which also operates health, accident and personal insurance businesses.
In FY2015, Sunshine generated operating income of RMB42B and net profit after tax of RMB1.2B, thanks to very strong premium growth and investment income.
China's life insurance density and peneration remains low, indicates growth potential (see below).
Sunshine's insurance profitability has led to robust growth in the past 2 years and predicted to sustain in the long term (see below).
Top five shareholders of Sunshine Insurance are China Petroleum and Chemical Corporation, China Southern Air Holding Company, China Aluminum Corporation, China National Foreign Trade Transportation (Group) Corporation, the Guangdong Electric Power Development Co.
Link: sip-trunking.tmcnet.com/news/2007/08/26/2887907.htm
Fitch affirms A rating:
The rating affirmation reflects the company's consistently profitable operating results, steady business growth, and sound liquidity as well as their nationwide distribution coverage.
Link: mobile.reuters.com/article/idUSFit991073
Price: 99.80
Yield to maturity: 4.53%
Advance margin: 75%
Leverage YTM based on 70% loan: 10.43%
Ccy: USD
Moody's: Baa1
Fitch: A-
52 weeks high: 107.27
52 weeks low: 97.30
Sunshine Life Insurance is China's 7th largest insurance group which also operates health, accident and personal insurance businesses.
In FY2015, Sunshine generated operating income of RMB42B and net profit after tax of RMB1.2B, thanks to very strong premium growth and investment income.
China's life insurance density and peneration remains low, indicates growth potential (see below).
Sunshine's insurance profitability has led to robust growth in the past 2 years and predicted to sustain in the long term (see below).
Top five shareholders of Sunshine Insurance are China Petroleum and Chemical Corporation, China Southern Air Holding Company, China Aluminum Corporation, China National Foreign Trade Transportation (Group) Corporation, the Guangdong Electric Power Development Co.
Link: sip-trunking.tmcnet.com/news/2007/08/26/2887907.htm
Fitch affirms A rating:
The rating affirmation reflects the company's consistently profitable operating results, steady business growth, and sound liquidity as well as their nationwide distribution coverage.
Link: mobile.reuters.com/article/idUSFit991073
Comments
Post a Comment