Gelonghui, January 22 | BOC International published a research report showing that the total premiums of the five listed life insurance companies increased by 4.9% per year in 2023. Life insurance premium performance was divided in December, and overall growth was stable. The debt-side growth of life insurance was strong in 2023, and Taibao Ping'an's new business is expected to lead the industry in value growth. In 2023, the three leading financial insurance companies are close to growing in car insurance, and the growth rate of non-car premiums is diverging. Zhongan's premium growth rate in 2023 is in line with expectations. The bank maintains simultaneous ratings in the insurance industry. The bank expects the value of the new business of listed Chinese life insurance companies to increase by 18% per year in 2023 and remain flat year on year in 2024. The growth rate of the new life insurance business value will slow down on a high base, and the debt side of the life insurance industry is still in the process of transformation; 10-year bond yields are on a downward trend, and the asset side is still facing investment pressure. Since the beginning of the year, the stock price of H-share life insurance companies has dropped by more than 10%. Market sentiment may be pessimistic, and there is room for valuation repair.