The Zhitong Finance App learned that domestic insurance stocks continued to rise. As of press release, China Taibao (02601) rose 3.86% to HK$21.5; Ping An (02318) rose 2.56% to HK$44.1; China Life (02628) rose 2.26% to HK$12.66; and Xinhua Insurance (01336) rose 1.37% to HK$17.8.
According to the news, China Aviation Securities pointed out that since mid-April, the insurance sector has continued to fluctuate upward, mainly benefiting from the expected improvement of pressure on the asset side. First, on April 22, the Ministry of Finance stated that it will “promptly begin issuing ultra-long-term special treasury bonds,” which is expected to drive a steady recovery in long-term interest rates. Second, favorable real estate policies have continued to increase, and the real estate sector continues to rebound. Real estate's pressure on the insurance asset side is expected to ease. However, judging from the performance of insurers reported in the first quarter, the value of insurers' new business has rebounded, and the debt side is expected to improve further.
Furthermore, on May 9, the State Administration of Financial Supervision and Administration issued the “Notice Concerning Matters Relating to Commercial Banks' Agency Insurance Business”, which lifted the limit on how many times each bank branch can only cooperate with up to 3 insurance companies in the same fiscal year. Clarify that commercial banks act as agents for internet insurance business, telemarketing insurance business, and other insurance services, and that branches and outlets at all levels do not limit the number of cooperative insurance companies.