playcandycrushsagafreeonline| Both assets and liabilities have been improved! Shares of listed insurance companies such as China Life Insurance and Ping An of China rose more than 20% in two months

Interface News reporter | Lu Wenqi

Insurance stocks have regained their upward trend since April after months of slump.

By the close of trading on May 21, China Pacific Insurance led the way, with H shares up more than 33% and A shares up more than 28% since April. China Life's H shares rose 23% and A shares rose 15%.Playcandycrushsagafreeonline.35%; China Ping an H shares rose 23.78%, A shares rose more than 10%; Xinhua Insurance H shares rose nearly 20%, A shares rose 15.4%.

Some brokerage non-bank analysts told Interface News that the recent increase in insurance stocks mainly reflects the game of policy, as well as the expectation of improvement on the asset side. The trend of the insurance industry is closer to the trend of Shanghai and Shenzhen 300 and 10-year treasury bond yields, and asset-side fluctuations have a more significant impact on the valuation of the industry. In the future, the asset side of insurance stocks will still be the main line, and there will be plenty of room for insurance stocks to rise if they are expected to continue to improve or if positive policies continue.

The asset side has been doing well recently. On May 17, a video conference on the work of ensuring the delivery of houses was held in Beijing. On the same day, the central bank and the General Administration of Financial Supervision issued a number of documents, releasing the "three major moves" one after another.PlaycandycrushsagafreeonlineLower the down payment ratio, abolish the interest rate floor, and lower the provident fund interest rate.

China Merchants Securities expects that with the expected improvement in policy, the insurance sector, especially the life insurance target, is also expected to benefit from the spread and spillover of this round of real estate chain market. At the same time, with the future issuance of ultra-long-term special treasury bonds, the situation of "asset shortage" will be alleviated, and long-term treasury bond yields will also rise.

From the debt side, the five listed A-share insurance companies totaled 1.250585 trillion yuan in premiums from January to April this year, an increase of 1.47 percent over the same period last year.

Sort out the announcement of listed insurance companies

The growth rate of premiums showed a pattern of "four liters and one drop". In the previous April, the premium income of China Life, China Life Insurance, China Ping an and China Pacific Insurance increased by 3.89%, 1.25%, 2.38% and 0.99% respectively compared with the same period last year, while Xinhua insurance premium income fell 11.69% from the same period last year.

In terms of life insurance, China Life's premium income was 371.2 billion yuan, up 3.9% from the same period last year; Ping an's life premium income was 212.155 billion yuan, up 1.9% from the same period last year; life insurance premium income was 60.47 billion yuan, down 5.9% from the same period last year; Taibao's life insurance premium income was 104.524 billion yuan, down 3.5% from the same period last year; Xinhua Insurance premium income was 67.224 billion yuan, down 11.69% from the same period last year.

In a single month, a number of companies' life insurance premium income picked up obviously in April. Open source securities non-bank analyst superb, Tang Guanyong believes that the improvement in monthly premiums is expected to be mainly driven by the promotion of dangerous production. Among them, PICC ranked first among the top five listed insurance companies with a premium growth rate of 23.59%. The monthly premium growth rate of China Life Insurance and Pacific Life Insurance exceeded 10%. The monthly premium of Ping an Life Insurance increased by 6.7% compared with the same period last year. Xinhua Insurance's premium income decreased by 11.6% in April compared with the same period last year.

Guotai Junan non-bank analyst Liu Xinqi team believes that the negative growth of Xinhua Insurance is still expected to significantly reduce the bulk delivery business leading to a slowdown in premium growth. The team pointed out that the life insurance industry benefited from the decline in product pricing interest rates, the improvement in the expense rate after the "integration of reporting and banking", and the optimization of the business term structure, which contributed to a better growth rate of new business value than the new single growth rate.

In May, another piece of news aroused concern in the insurance industry. The State Administration of Financial Supervision and Administration cancelled the "one-to-three" bancassurance channel that had been in practice for many years, and branches and outlets at all levels did not limit the number of cooperative insurance companies.

The head of the individual insurance channel of a joint venture insurance company analyzed to the interface news that the move is expected to further activate the flow of household savings into the insurance industry. "according to the central bank's April data, the balance of household deposits is 145 trillion yuan. The money of the common people is mainly in the bank, and everyone trusts the bank. Now the one-to-three restriction has been removed, which can not only convert deposits into longer-term insurance funds, but also meet customers' demand for long-term stable interest rate products. "

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