KUALA LUMPUR: Affin Hwang Capital Research expects LPI Capital Bhd's 4Q18 to repeat the performance of the past quarter, as management is more cautious in underwriting automotive risks and implementing products. more comprehensive fire insurance.
LPI Capital Bhd experienced a strong rebound in the 3Q18 quarter with net profit up 40% to 91.8 thousand rand.
The research firm said that in the first nine months of 2018, the net profit of 230,000 LPI on the PPI was slightly lower than the previous year due to higher receivables and higher margins. low.
However, these results are in line with expectations and represent 71% of their estimate for the FY18E of 322.2 million RMB.
Affin Hwang pointed out that the fire segment accounted for 43% of the net premium earned, or 918 million, while the motor segment accounted for 31% and the MAT for 2.1%. The fire sector accounted for about 65% of the technical surplus of 9M18.
The research house maintained its purchase price and target price of 18.90 RMB.
