Strong El Niño, Moderate Effect

研报英文原文证据摘录

Strong El Niño, Moderate Effect

ions Historically, we have seen loan growth and asset quality get impacted materially inMMFS.NS MahindraFinancial Servicesand Mahindra Iyer,Subramanian Financials India EW 373.50 370.00 MMFSperiods of deficient rainfall

0916.HK ChinaGroup Longyuan Power Hou, Eva Utilities China EW 5.71 7.50 Lower wind speed means wind power generation will be negatively affected

LTFL.NS L&T Finance Ltd Parikh, Kushan Financials India UW 311.00 195.00 LTFLfinance)haswhichsignificantcould lendingbe negativelyexposureimpactedto ruralbycustomersEl-Nino led(viamonsoontractor finance,disruptionsmicrofinance and to some extent two-wheeler

Direction Uncertain / Limited Impact

8766.T Tokio Marine Holdings Takemura,Atsuro Financials Japan OW 8,234.00 9,300.00 Domesticfrom lowerclaimshurricanecouldlossesrise due to typhoons Overseas, the Americas account for about 80% of premiums, which could benefit

has significant lending exposure to rural customers (via tractors, utility vehicles, car finance) which could be negatively

impacted by El-Nino led monsoon disruptions Historically, we have seen loan growth and asset quality get impacted materially in8630.T Sompo Holdings Takemura,Atsuro Financials Japan OW 7,264.00 8,670.00 MMFSperiods of deficient rainfall

El Niño is unlikely to be a material earnings or share-price driver given long-term insurance-led profit mix and limited contribution

000810.KS Samsung Fire & Marine Choi, Heewon Financials S. Korea OW 609,000.00 740,000.00 from auto and general P&C, although unusually severe floods or typhoons could temporarily increase claims volatility and reduce

earnings visibility.

El Niño is unlikely to be a material earnings or share-price driver, although unusually severe floods or typhoons could temporarily