国信证券此前指出，受“炒停售”等因素影响，引发市场对于短期内透支部分四季度保险需求的担忧；预计 “开门红”期间增量机遇或集中于组合型产品策略带来的增量保险需求挖掘，从而为险企资产配置贡献稳定需求。长城证券则指出，市场对于保险板块的担忧聚焦在长端利率走势。Domestic insurance stocks continued to decline. As of press release, Xinhua Insurance (01336) fell 6.19% to HK$25.75; China Life Insurance (02628) fell 5.87% to HK$15.72; China Taibao (02601) fell 5.69% to HK$24.85; and China Insurance (01339) fell 4.13% to HK$3.95.
The Zhitong Finance App learned that domestic insurance stocks continued to decline. As of press release, Xinhua Insurance (01336) fell 6.19% to HK$25.75; China Life (02628) fell 5.87% to HK$15.72; China Taibao (02601) fell 5.69% to HK$24.85; and China Insurance (01339) fell 4.13% to HK$3.95.
Haitong Securities released a research report saying that in September, the original premium size of personal insurance companies reached 275.2 billion yuan, +11.5% year over year, down 42.6 pct from August's growth rate. The decline in premium growth in September was mainly due to short-term pressure on market demand after switching to traditional insurance products; a slowdown in current revenue growth due to the decline in new orders in the same period last year; and the shift in business focus of some companies to get off to a good start in 2025. In terms of car insurance premiums, car insurance premiums were +3.3% year-on-year in January-September, and +4.4% year-on-year in Q3, up 1.6 pct from the Q2 growth rate. Auto insurance premiums in September were +4.5% year-on-year, the same as the growth rate in August.
Guoxin Securities previously pointed out that due to factors such as “speculation and suspension of sales,” it has raised market concerns about short-term overdraft insurance requirements for the fourth quarter; it is expected that during the “good start” period, incremental opportunities may focus on the exploration of incremental insurance demand brought about by combined product strategies, thus contributing to stable demand for insurers' asset allocation. Great Wall Securities, on the other hand, pointed out that the market's concerns about the insurance sector focus on long-term interest rate trends.
