Insurance stocks rose in the morning. As of the time of publication, China Pacific Insurance (02601) rose by 4.72% to HK$19.54; Ping An Insurance (02318) rose by 3.64% to HK$35.55; China Life Insurance (02628) rose by 2.25% to HK$10.92; New China Life Insurance (01336) rose by 2.18% to HK$15.02.
Zhitong Finance APP learned that insurance stocks rose in the morning. As of the time of publication, China Pacific Insurance (02601) rose by 4.72% to HK$19.54; Ping An Insurance (02318) rose by 3.64% to HK$35.55; China Life Insurance (02628) rose by 2.25% to HK$10.92; New China Life Insurance (01336) rose by 2.18% to HK$15.02.
On the news front, recently, the director of the Property Insurance Regulatory Department of the China Banking and Insurance Regulatory Commission, Yin Jiang'ao, stated at a press conference that interest rate management is the top priority of the operation and management of insurance companies, especially life insurance companies. It is necessary to guide the industry to timely lower the reserved interest rates of life insurance products, establish a mechanism to link reserved interest rates with market interest rates, and dynamically adjust them.
At the same time, the transmission of the asset-side yield to the cost of liability funds will be accelerated, so that assets and liabilities are better matched, strengthening the rigid constraints of investment yield on settlement interest rates and bonus levels, promoting the realization and rationalization of customer benefits, and urging insurance companies to adjust the structure of their products, optimize the demonstration of policy rates, and rationally guide market expectations.
Guotai Junan Securities issued a research report stating that the settlement interest rates of dividend insurance and universal insurance of insurance companies have significantly decreased, mainly due to the joint impact of internal and external factors. The bank expects that the product structure of insurance companies will still focus on traditional insurance, and the demonstration interest rate for dividends should decrease. It is expected that the inflection point for the industry's cost of debt has already arrived in 2024, which is conducive to releasing some operational profits.