东吴证券此前指出，当前市场储蓄需求依然旺盛，在监管持续引导险企降低负债成本趋势下，保险公司利差压力预计逐渐得到缓解。近期十年期国债收益率降至1.96%左右，该行预计，未来伴随国内经济复苏，长端利率若企稳或修复上行，则保险公司新增固收类投资收益率压力将有所缓解。Mainland Insurance Companies continue to decline. As of the time of writing, China Pacific Insurance (02601) is down 4.67%, trading at 24.5 HKD; China Life Insurance (02628) is down 3.33%, trading at 15.08 HKD; The People's Insurance (01336) is down 3.9%, trading at 24.65 HKD; The People's Insurance (01339) is down 3.85%, trading at 3.75 HKD.
According to Zhicheng Finance APP, Mainland Insurance Companies continue to decline. As of the time of writing, China Pacific Insurance (02601) is down 4.67%, trading at 24.5 HKD; China Life Insurance (02628) is down 3.33%, trading at 15.08 HKD; The People's Insurance (01336) is down 3.9%, trading at 24.65 HKD; The People's Insurance (01339) is down 3.85%, trading at 3.75 HKD.
In terms of news, on December 13, the 30-year national treasury active bond 2400006 fell by 4.26 basis points, dropping below the 2% mark. Industrial Securities pointed out that if interest rates decline significantly, it will directly affect the returns of Fixed Income Assets for insurance companies. China Great Wall indicated that market concerns about the insurance Sector focus on long-term interest rates; the third-quarter performance exceeding expectations has already been realized, and stock prices may have been relatively fully priced in.
Soochow Securities previously pointed out that the current market savings demand remains strong. In the trend of continuous regulatory guidance for insurance companies to lower liability costs, the pressure on interest spreads for insurance companies is expected to gradually ease. Recently, the yield on ten-year treasury bonds fell to around 1.96%. It is anticipated that as the domestic economy recovers, if long-term rates stabilize or recover upward, the pressure on newly added returns from Fixed Income investments for insurance companies will be alleviated.
