Jingwu Cai News | Insurance stocks rose at the beginning of the trading session. As of the time of publication, ZA Online (06060) rose 2.41%, Sunshine Insurance (06963) rose 2.26%, PICC P&C (02328) rose 1.95%, PICC Group (01339) rose 1.69%, and AIA (01299) rose 1.29%.
On the news front, at the executive meeting of the State Council held on August 30, several opinions were discussed to promote the high-quality development of the insurance industry. The meeting pointed out that the insurance industry plays an important role in ensuring and improving people's livelihoods, disaster prevention and reduction, and serving the real economy. It is necessary to consolidate the institutional foundation for the high-quality development of the insurance industry, firmly establish the concept of prioritizing services, give full play to the role of commercial insurance and other market mechanisms, and greatly enhance the insurance industry's capacity for protection and service level. It is necessary to cultivate and strengthen patient capital such as insurance funds, remove institutional barriers, improve assessment mechanisms, and provide stable long-term investment for the capital market and technological innovation.
Haitong International believes that the year-on-year marginal improvement of NBV of listed insurance companies is expected to be mainly due to the improvement of product structure, the increase in the proportion of medium- and long-term premium payment, the reduction of pre-set interest rates, and the convergence of bank and insurance channels. In addition, the current demand for resident savings is still strong. In the context of a decline in bank deposit interest rates, insurance products still have relative attractiveness. We are still optimistic about the improving trend on the liability side.