China Reinsurance (01508) rose 6.52% to HK $0.49, China Pacific Insurance (02601) rose 3.08% to HK $16.72, China Taiping (00966) rose 3.06% to HK $7.07, New China Life Insurance (01336) rose 2.86% to HK $17.28, and Ping An Insurance (02318) rose 2.94%, Zhitong Financial APP learned. It was at HK $43.8.
On November 22, Taiping Life increased its holdings and listed Industrial and Commercial Bank of China H shares in the secondary market through the account of Taiping Asset Management, the trustee, and through Hong Kong Stock Connect, buying a total of 83 million shares, involving a capital of about HK $310 million. It is reported that Taiping Life Insurance is a life insurance company of China Taiping Group.
Analysts said that the rebound in insurance stocks since November is mainly related to two major reasons: first, there are frequent policy advantages, including the real estate industry policy is good for the insurance investment end, the epidemic prevention policy optimization is good for the insurance industry debt end, and so on; second, after the insurance sector has been falling over the past two years, the valuation is at a historical bottom, and the valuation is expected to continue to repair.