China Taiping Insurance Holdings (0966) Fair Value & Analysis
Financial Services · HK · Market cap HK$64.8B
Fair value as of: Aug 13, 2026
From 4 valuation models · updated today
Fair value updated Aug 13, 2026, revised from HK$44.04 to HK$41.04 (−6.8%) since Aug 5, 2026. Share price +5.5% over the past month.
A solid business, screening 102% undervalued on our models.
What matters now
- The price is below even our cautious bear case (HK$30.78). The market is more pessimistic than our downside scenario.
- Solid quality (66/100) at a price below fair value, the discount is the argument here, not the business quality.
- For a financial, book-value and earnings-based methods matter more than a cash-flow DCF, which fits banks and insurers poorly.
Price vs Fair Value (5 years)
White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Aug 13, 2026.
How to read this chart
60‑month range HK$4.96 – HK$25.66 · fair‑value band HK$30.78 – HK$51.30 · the HK$20.36 price screens below the HK$41.04 fair value. Dashed = 300-day average. As of Aug 13, 2026.
Analysis
China Taiping Insurance Holdings (0966) currently trades at HK$20.36, while our model-based Fair Value estimate is HK$41.04, implying the stock looks roughly 101.6% undervalued today. The Quality Score stands at 66/100 (solid quality), in the Financial Services sector. Bull case: trading below our estimate, it may offer upside if the fundamentals hold. Bear case: a low price can be a value trap when quality is weak or the data is thin (evidence: high), always confirm before acting.
Over the trailing twelve months, China Taiping Insurance Holdings generated revenue of HK$133B at a net margin of 20.4%. Revenue grew 36.4% year over year. It earns a return on equity of 25.5%. Net debt stands at HK$140B. Fundamentals as of Aug 13, 2026
Our scenario range runs from HK$30.78 (bear case) to HK$51.30 (bull case); at HK$20.36, the current price sits below that range. Bear and bull are the same models run on conservative and optimistic assumptions (margins, growth, valuation multiples), so a plausible valuation range, not a price target. The share trades about 22% below its 52-week high and 44% above its 52-week low, currently above its 200-day average. For context, the median of 10 Financial Services peers we cover trades at 34% fair-value upside, at 102%, 0966 screens cheaper than that median.
Fair Value models
Each model estimates fair value its own way; the Fair Value above is the evidence-weighted blend. Evidence (0–100) measures how completely this model’s inputs are available: well-fed models carry more weight in the blend. The spread across models is intentional, each one stresses a different value driver; dividend models, for instance, come out structurally low when payout is small.
All 4 models by family
Widest divergence: Economic Profit (HK$72.22) versus Asset-Based (HK$17.74). Highest evidence: Residual Income (76).
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Key figures & financial health
More key figures
Figures from reported company fundamentals · as of Aug 13, 2026. TTM = trailing twelve months.
Quality Score breakdown
Of which business quality 58 · Market factors (momentum, volatility) 43
Non-valuation factor families (profitability, growth, cashflow, financial strength, momentum …), each academically grounded. Valuation itself sits in the Fair Value and is deliberately excluded here to avoid double-counting.
About the company
China Taiping Insurance Holdings Company Limited, an investment holding company, underwrites various insurance and reinsurance products in the People's Republic of China, Hong Kong, Macau, Singapore, and internationally. The company operates through three segments: Life Insurance Business, Property and Casualty Insurance Business, and Reinsurance Business.
Full company description
China Taiping Insurance Holdings Company Limited, an investment holding company, underwrites various insurance and reinsurance products in the People's Republic of China, Hong Kong, Macau, Singapore, and internationally. The company operates through three segments: Life Insurance Business, Property and Casualty Insurance Business, and Reinsurance Business. The Life Insurance Business segment provides life insurance products, such as corporate and personal retirement insurance, group life insurance, individual insurance, health insurance, and accident insurance products and annuities. Its Property and Casualty Insurance segment offers property and casualty insurance products, including compulsory motor insurance, liability insurance, credit insurance, guarantee insurance, and short-term accident and health insurance, as well as the related reinsurance products. The Reinsurance segment provides property damage, life, marine cargo and hull, and miscellaneous non-marine reinsurance products. It also engages in the asset management, insurance intermediary, financial leasing, property investment, and securities dealing and broking, as well as in elderly care investment businesses; manages investment funds; and provides back-to-back financing arrangement, as well as insurance broking and agency services. The company was formerly known as China Insurance International Holdings Company Limited and changed its name to China Taiping Insurance Holdings Company Limited in August 2009. The company was incorporated in 2000 and is headquartered in North Point, Hong Kong. China Taiping Insurance Holdings Company Limited is a subsidiary of China Taiping Insurance Group (HK) Co. Ltd.
Company description, as reported by the company or data provider.
Revenue & earnings trend
FY2021 – FY2025 · reported fiscal years
China Taiping Insurance Holdings reported revenue of HK$179B in FY2025 versus HK$319B in FY2021, a compound −13.5%/yr. Reported net income was HK$27.1B in FY2025, compounding +37.8%/yr from FY2021.
of which total revenue −0.3 pp · buybacks/dilution −1.1 pp
Absolute contributions in percentage points per year; they sum to the EPS growth rate. Start and end points are 3-year averages (details on hover).
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Peer Group
Insurance - Life · 96 stocks
How this stock ranks against its industry: the green marker is this stock, the band is the typical 25–75% peer range, and the tick is the median.
Valuation Multiples vs Insurance - Life median · lower = cheaper
Snowflake
Five quick dimensions, each 0 to 100: VALUE (fair-value potential), FUTURE (revenue growth), PAST (return on equity), HEALTH (low debt), DIVIDEND (yield). Green = this stock, grey = typical sector peer.
Values & ESG
Does this company touch areas you may want to avoid? The classification is inferred from sector and industry.
ESG scores are not available for this stock yet. Values and ESG data are contextual and can differ between providers.
Similar stocks
10 more Insurance - Life stocks, each showing price versus our Fair Value estimate (as of Aug 13, 2026).
| Stock | Price | Fair Value | vs Fair Value |
|---|---|---|---|
| China Life Insurance Company 601628 | ¥37.33 | ¥49.98 | +34% |
| Ping An Insurance (Group) Company 601318 | ¥52.60 | ¥84.72 | +61% |
| Manulife Financial Corporation 0945 | HK$343.40 | HK$143.17 | -58% |
| Life Insurance Corporation LICI | ₹412.15 | ₹392.93 | -5% |
| Samsung Life Insurance Co 032830 | 302,500 KRW | 191,293 KRW | -37% |
| China Pacific Insurance (Group) Co 601601 | ¥30.48 | ¥57.51 | +89% |
| Prudential plc PUKN | 545.00 MXN | 499.36 MXN | -8% |
| New China Life Insurance Company 601336 | ¥58.83 | ¥99.92 | +70% |
| SBI Life Insurance Company SBILIFE | ₹1,830 | ₹293.11 | -84% |
| Cathay Financial Holding 2882B | 59.00 TWD | 107.71 TWD | +83% |
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Frequently asked questions
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How we calculate Fair Value
Each company is valued through a stack of independent intrinsic-value models (DCF variants, residual-income, multiples and more), blended into one family-balanced consensus and weighted by how much trustworthy data backs it. A separate quality layer scores the fundamentals. Every input is real reported data, nothing guessed.
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