Mainland insurance companies fell further in late trading, as of press time, New China Life Insurance (01336) fell by 4.1%, to HKD14.96; China Life Insurance (02628) fell by 2.64%, to HKD11.08; PICC P&C (02328) fell by 2.22%, to HKD9.67; China Pacific Insurance (02601) fell by 1.62%, to HKD19.44.

On the news front, the China Banking and Insurance Regulatory Commission released the 2024 May insurance operating report, which showed that in the first five months of this year, the original insurance premium income of insurance industry was CNY2.95 trillion, of which the original property insurance premium income was CNY5894.62 billion and the original life insurance premium income was CNY2.36 trillion. The original insurance claims payment was CNY1.06 trillion. The China Banking and Insurance Regulatory Commission stated that according to the comparable caliber, the original insurance premium income of the industry increased by 4.6% year-on-year, and the original insurance claims payment increased by 38%.

China Merchants Securities pointed out that in the first half of 2024, life insurance products had outstanding product strength, channel transformation had achieved significant results, and new business value had grown significantly beyond expectations; property insurance premium growth rate was stable, with comprehensive cost rate dragged down by travel recovery and major catastrophe losses. Due to the pessimistic expectation of the asset side, the risk of interest rate loss has become the market's biggest concern and severely suppressed the performance of the sector's stock prices, but the dividend strategy of insurance funds successfully led the equity market style from the beginning of the year to the present, and profits are expected to achieve good growth in the first half of the year under a low base.