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Hong Kong stocks are on the move | The decline of mainland insurance companies has widened as October's life insurance premium growth slows down. The market is paying attention to the liability side performance during the New Year opening phase.
Mainland insurance companies saw their decline expand, as of the time of publication, new china life insurance (01336) fell by 7.24%, closing at 23.05 Hong Kong dollars; china life insurance (02628) fell by 6.68%, closing at 14.52 Hong Kong dollars; china pacific insurance (02601) fell by 4.09%, closing at 24.6 Hong Kong dollars; the people's insurance (01339) fell by 3.89%, closing at 3.71 Hong Kong dollars.
gtja: Strengthening the connection between assets and liabilities to return to the "real growth" of insurance profits.
The fundamental reason for the mismatch on the liability side is the pressure of business assessment represented by premium scale and NBV. During the interest rate down cycle, there is a divergence between the new business profit growth and the new business value growth of insurance companies, and greater emphasis should be placed on the value growth of achievable investment returns.
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Open Source Securities: In October, the growth rate of insurance company premiums fell, focusing on the 25-year anniversary preparations and product switch progress.
Currently, the market is concerned about the performance of the liability end in the early stages of 2025. From the perspective of NBV growth prospects, the impact of price may be greater than quantity. The convergence of individual and bancassurance, optimization of product structure, and further support for the improvement of value rates through the convergence of the scheduled interest rate.
[Brokerage Focus] Zhuhai International is bullish on leading insurance companies with a high asset-liability matching degree.
Golden Financial News | CMB International indicated that the slowing growth rate of life insurance premiums in October is in line with market expectations, mainly due to the previous scheduled interest rate reduction leading some customers to advance their savings demand, as well as listed insurance companies achieving their annual performance goals and shifting focus to a strong start in 2025, driving changes in product and operation strategies. The cumulative premium growth rate of life insurance of listed insurance companies in the first 10 months slightly decreased compared to the previous month. Channel survey results indicate that there are still certain challenges in the sales of dividend insurance; the bank predicts that the additional 2.5% pricing of whole life, annuity, and universal life insurance will continue to be the key products for sales openings in the industry, especially for mid-sized insurance companies. Looking ahead to the fourth quarter, the bank forecasts...
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