光大证券认为，长期来看，一方面，随着银行存款利率多次下调，叠加银行理财与公募基金产品易受资本市场扰动，2.5%预定利率的储蓄型保险产品仍具一定吸引力；另一方面，预定利率动态调整机制将显著利好险企跟随市场变化及时调整负债成本，长期有助于行业提升资产负债管理水平。Insurance stocks continued to strengthen, as of the time of publication, AIA (01299) rose by 7.08% to 68.1 Hong Kong dollars; Ping An Insurance (02318) rose by 4.5% to 47.6 Hong Kong dollars; China Pacific Insurance (02601) rose by 1.96% to 25.95 Hong Kong dollars; New China Life Insurance (01336) rose by 1.77% to 25.9 Hong Kong dollars; China Life Insurance (02628) rose by 1.14% to 14.14 Hong Kong dollars.
According to the Securities Times APP, insurance stocks continue to strengthen, as of the time of publication, AIA (01299) rose by 7.08% to 68.1 Hong Kong dollars; Ping An Insurance (02318) rose by 4.5% to 47.6 Hong Kong dollars; China Pacific Insurance (02601) rose by 1.96% to 25.95 Hong Kong dollars; New China Life Insurance (01336) rose by 1.77% to 25.9 Hong Kong dollars; China Life Insurance (02628) rose by 1.14% to 14.14 Hong Kong dollars.
On the news front, the Central Political Bureau of the Communist Party of China held a meeting to discuss the current economic situation and deploy the next economic work. SWHY pointed out that the real estate industry is facing another positive development, which is helpful in further alleviating the market's risk-aversion sentiment towards insurance companies' asset-side real estate risks and the valuation pressure on the sector; It is expected that the follow-up promotion of special policies in the capital markets will stimulate anticipation of comprehensive policies to facilitate insurance funds entering the market.
Everbright Securities believes that in the long run, on the one hand, with multiple reductions in bank deposit rates and the vulnerability of bank wealth management and public funds to disturbances in the capital markets, savings-type insurance products with a guaranteed rate of 2.5% still have certain attractiveness; on the other hand, the dynamically adjusted guaranteed rate mechanism will significantly benefit insurance companies to adjust liability costs promptly according to market changes, which will contribute to the long-term enhancement of the industry's asset liability management level.
