The suspension of sales is driving! In August, the premium for personal insurance in the five major A-share insurance companies skyrocketed, with Xinhua and PICC Life's monthly growth rate exceeding 90%.
1. Under the effect of "suspension of sales", life insurance new policies did not decrease in August. 2. In the month of August, New China Life Insurance and China Life Insurance saw a staggering year-on-year increase of 122% and 95% in premium income. 3. In the month of August, Ping An Life Insurance, China Life Insurance, and Taikang Life Insurance saw a year-on-year growth of over 25% in premium income.
The third "国十条" of the insurance industry has activated the trillion-dollar retirement financial market. The direction of the development of the three-pillar retirement insurance has been determined!
① Vigorously develop commercial insurance annuities to meet the diversified retirement protection and long-term financial planning needs of the public; ② Encourage the development of new products and exclusive products that adapt to the individual pension system; ③ Support pension insurance companies in conducting commercial pension business and promote the development of exclusive commercial retirement insurance.
Deutsche Bank: The pricing of loans in the banking industry in China is becoming more rational, so there is no need to overly worry about net interest margin pressure.
Morgan Stanley pointed out that although the LPR reduction may put pressure on the interest income of the banking industry in China, at the same time, the interest cost paid by banks to depositors is also decreasing, which helps to alleviate the pressure on net interest margin. Morgan Stanley expects that the banking industry will outperform the large cap market in the next 12 months.
Is it urgent enough to reduce the interest rate on existing housing loans? In the first half of the year, the non-performing balance of personal loans in the six major state-owned banks has reached 352 billion yuan, and the non-performing rate has general
In the first half of this year, the total amount of non-performing loans of the six major state-owned banks has reached 352.091 billion yuan, exceeding the 300 billion yuan threshold for the first time. Compared with the data from early 2024 (291.371 billion yuan), it can be calculated that in the first half of the year, the six major state-owned banks added approximately 60.7 billion yuan of non-performing loans. Industry insiders believe that in the current environment, it is not advisable to excessively rely on reducing existing housing loans to play a greater role in promoting consumer spending.
At least 10 senior executives of listed banks are optimistic. Has the net interest margin really bottomed out? Fitch raised objections: LPR may be further reduced.
In the second quarter of 2024, the net interest margin of commercial banks was 1.54%, showing signs of stopping the decline for the first time. Recently, several listed banks' executives have also publicly stated that there are signs of stabilization or a slowdown in the decline of the net interest margin, injecting a strong boost into the market. Huayu Ratings recently stated, "It is too early to determine whether the net interest margin has bottomed out. The government may further lower the LPR to reduce loan costs.
Is the 80 basis point spread opening the window for reducing existing mortgage rates? How to relieve bank pressure? Experts suggest: adjust in stages to mitigate the impact, and cut deposit rates to hedge the impact.
①In July, the new personal housing loan interest rate is 3.4%, with an interest rate spread of about 80 basis points between existing house loan rates and new ones, and there is a growing call for residents to adjust existing house loan rates. ②Experts suggest adjusting existing mortgage rates gradually in stages to reduce the impact on banks, while controlling bank liability costs through lowering deposit rates and other means to mitigate interest rate spread pressure.
104255742 : All bad! Omg