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Chinese composite insurer offering both life and property-and-casualty products, recently listed in Hong Kong.
Chinese composite insurer offering both life and property-and-casualty products, recently listed in Hong Kong.
In one line: A mid-sized diversified Chinese insurer.
Moat: narrow (distribution, brand). Established agent/bancassurance network but smaller scale than the big state-owned insurers.
Headquarters: Beijing, China · Founded: 2005 · Employees: 45,748
Size Sunshine Insurance (6963.HK) is a Hong Kong Financials company (Multi-Line Insurance) with a market value of $5.35B, the 245th largest of 891 Hong Kong companies the cockpit tracks. Shares closed at HK$3.65 on 6 Nov 2026.
Performance Over six months the shares fell 0.3%, against +6.0% for the median peer and -13.4% for the Hong Kong market (cap-weighted) — 7th lowest of 21 in its peer set.
Growth Revenue grew 7.5% over the last twelve months (peer median +9.6%); the operating margin is 10.0% (peer median 14.9%).
Valuation It trades at 0.66× book value against a peer median of 1.14× (5th cheapest of 21).
Price implies The share price implies a return on equity of about 5.4%; Sunshine Insurance delivers 13.7%, so the price asks less than the business earns today.
Next results Next results expected around 31 Mar 2027 (exchange calendar; dates can move).
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Revenue | HK$105B | HK$98.3B | HK$95.0B | HK$88.4B | HK$93.3B |
| Revenue growth | — | +3% | +8% | -5% | — |
| Net income | HK$8.55B | HK$6.84B | HK$5.91B | HK$4.13B | HK$5.23B |
| Free cash flow | HK$102B | HK$89.8B | HK$52.8B | HK$32.9B | HK$43.3B |
| Capital expenditure | HK$512M | HK$689M | HK$653M | HK$2.27B | HK$1.67B |
| Total debt | n/a | HK$52.9B | HK$45.6B | HK$54.5B | HK$34.1B |
The default views of Competitor Analysis ▸ Charts, drawn from the same data. Open them in the cockpit to change the axes, pin companies and read every value.
| Company | Market cap | 6M return | Revenue growth | ROE | Price / book | Implied ROE |
|---|---|---|---|---|---|---|
| Sunshine Insurance 6963.HK | $5.35B | 0% | +8% | 14% | 0.66× | 5.4% |
| New China Life Insurance 1336.HK | $21.5B | -24% | +44% | 42% | 0.87× | 10.3% |
| China Pacific Insurance (Group) 2601.HK | $42.5B | -22% | +9% | 14% | 0.69× | 8.4% |
| People's Insurance Co. (Group) of China 1339.HK | $46.1B | -2% | +11% | 18% | 0.60× | 5.6% |
| Ping An 2318.HK | $138B | -17% | -8% | 10% | 0.79× | 9.7% |
Peer set: Industry: the same industry and sector in any market, nearest in size. This is the same default set the interactive Competitor Analysis opens with.
| Measure | 6963.HK | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | +6.3% | +2.0% | 7th highest of 21 |
| 6-month return | -0.3% | +6.0% | 7th lowest of 21 |
| Return on equity | 13.7% | 15.4% | 9th lowest of 21 |
| Price / book | 0.66× | 1.14× | 5th cheapest of 21 |
| Trailing P/E | 4.9× | 9.2× | 4th cheapest of 19 |
| ROE the price implies | 5.4% | 8.1% | 4th least demanding of 21 |
| ROE delivered | 13.7% | 15.4% | 9th lowest of 21 |
| Company | Market | Market cap | 6M return | Revenue growth | ROE | Price / book | Implied ROE | Delivered ROE |
|---|---|---|---|---|---|---|---|---|
| Sunshine Insurance 6963.HK | Hong Kong | $5.35B | 0% | +8% | 14% | 0.66× | 5.4% | 13.7% |
| White Mountains Insurance WTM | United States | $5.35B | +5% | +21% | 22% | 0.99× | 6.3% | 21.9% |
| FWD 1828.HK | Hong Kong | $5.54B | +7% | +24% | 4% | 0.92× | 7.3% | 4.1% |
| CNO Financial CNO | United States | $5.09B | +20% | +2% | 17% | 2.19× | 16.0% | 16.9% |
| Sony Financial 8729.T | Japan | $6.06B | +1% | -10% | 14% | 1.08× | 5.1% | 14.4% |
| RLI RLI | United States | $6.27B | +39% | +6% | 22% | 3.70× | 15.4% | 22.1% |
| Enact ACT | United States | $6.38B | +5% | +2% | 13% | 1.19× | 7.9% | 12.9% |
| China Reinsurance (Group) 1508.HK | Hong Kong | $6.64B | -5% | +11% | 10% | 0.40× | 5.5% | 9.7% |
| Db Insurance 005830.KS | South Korea | $6.90B | +2% | -14% | 17% | 0.85× | 5.1% | 17.0% |
| Great Eastern G07.SI | Singapore | $7.47B | +21% | +27% | 15% | 1.73× | 11.4% | 14.8% |
| Axis Capital AXS | United States | $7.60B | +7% | +10% | 16% | 1.33× | 8.1% | 16.0% |
| Lincoln National LNC | United States | $7.67B | +12% | +12% | 23% | 0.74× | 8.6% | 22.6% |
| Alm. Brand A/S ALMB.CO | Denmark | $3.70B | +16% | +3% | 9% | 2.19× | 7.3% | 8.8% |
| Hamilton Insurance HG | United States | $3.64B | +20% | +20% | 19% | 1.24× | 8.0% | 19.0% |
| Hiscox HSX.L | United Kingdom | $8.08B | +18% | +4% | 17% | 2.06× | 15.1% | 16.6% |
| China Taiping Insurance 0966.HK | Hong Kong | $8.28B | -24% | +19% | 36% | 0.63× | 8.1% | 36.2% |
| Kinsale Capital KNSL | United States | $8.64B | +26% | +8% | 28% | 4.70× | 30.6% | 27.8% |
| Genworth Financial GNW | United States | $3.29B | -5% | -1% | 2% | 0.38× | 5.3% | 2.3% |
| F&G Annuities & Life FG | United States | $3.06B | -17% | +14% | 9% | 0.66× | 8.4% | 9.2% |
| Lemonade LMND | United States | $3.06B | -28% | +77% | -27% | 6.12× | 75.0% | -27.0% |
| New India Assurance NIACL.NS | India | $2.74B | -5% | +9% | -1% | 0.62× | 14.0% | -1.3% |