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China Reinsurance (Group) Corporation (HKG:1508) Soars 27% But It's A Story Of Risk Vs Reward
China Reinsurance Logs Nearly 32 Billion Yuan in January-July Premium Income
China Re (01508.HK): PICC Property and Casualty Insurance Company Limited's original premium income from January to July was 31.901 billion yuan.
China Reinsurance (01508.HK) announced on August 22nd that the total amount of original premium income obtained by the company through its operating subsidiary, China Property Insurance Co., Ltd., from January 1, 2024 to July 31, 2024, is approximately RMB 31.901 billion yuan.
Leading performance of leading enterprises drives the rise of insurance stocks. AIA Insurance (01299) rose by 5.54%. The HKMA said it is studying to increase the proportion of insurance fund investment in venture capital funds.
Kingwu Financial News | Insurance stocks rise across the board. As of the time of publication, AIA Insurance (01299) rose by 5.54%, China Reinsurance (01508) rose by 3.13%, Pru (02378) rose by 2.18%, and Sunshine Insurance (06963) rose by 0.63%. On the news front, Wang Shengbang, Director of the Regulatory Department of the China Banking and Insurance Regulatory Commission, stated at a press conference on August 21 that strengthening regulatory guidance and promoting banks and insurance institutions to increase their investment in technology companies, and focusing on cultivating patient capital and long-term capital. Next, the spirit of the Party's Third Plenary Session of the Twentieth Central Committee will be seriously implemented, and the spirit of reform will be further promoted to drive technological innovation.
From the perspective of a multi-level retirement security system, the opportunities of China Reinsurance (1508.HK) can be seen.
Population aging is an inevitable law and trend of China's population development, with two characteristics of high base and high growth rate. According to the latest data, as of the end of 2023, the elderly population aged 60 and above in China has exceeded 290 million, accounting for 21.1% of the total population, of which 220 million people are aged 65 and above, accounting for 15.4% of the national population. Institutions such as the China Development Research Foundation predict that by 2050, the elderly population aged 60 and above in China will approach 500 million, accounting for more than one-third of the total population. The degree of aging is deepening, coupled with the increasing number of chronic diseases and various health problems, which brings challenges to the social security system.
China Reinsurance (1508.HK) in the era of digitization: Creating an intelligent service ecology for the insurance industry.
In today's world, technology innovation has become a key support for enhancing comprehensive national strength and a powerful driving force for the transformation and progress of social production methods and lifestyles.
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