Minsheng Securities Research Reports point out that the Insurance Industry may be at the starting point of a new round of asset-liability resonance: the liability side focuses on continuously reducing costs and improving efficiency in the sales of dividend insurance, which may be a decisive factor for the valuation improvement of the Sector in the long term. High-level guidance indicates that the development of the Insurance Industry is expected to benefit from both the liability and asset sides. Looking back at historical market trends, asset-liability resonance has generated excess returns, and the Sector is expected to resemble the characteristics of 2017 where "the liability side shows prosperity + equity performance rebounds", with significant excess returns from insurance asset-liability resonance.