Domestic insurance stocks rose generally, New China Life Insurance Company Ltd(601336) rose nearly 4%, Ping An Insurance (Group) Company Of China Ltd(601318) rose 3.61%, and China property insurance rose more than 3%. With the opening of the wide credit cycle, the growth rate of social finance is expected to start to pick up, and insurance stocks are expected to benefit as a whole.
In terms of life insurance business, the key point of premium growth lies in the performance of agent channels. China Securities Co.Ltd(601066) said in the research report that at present, the total manpower of listed insurance enterprises has fallen by 30%. Although the rhythm of each company is different, it is predicted that there is little room for listed insurance enterprises to continue “clearing up”. The impact of regulatory policies on the industry is expected to be differentiated in different companies, and the manpower growth rate of listed insurance enterprises with leading channel advantages is expected to bottom out and pick up this year.
In terms of property insurance, a number of securities companies analyzed in the research report that the turning point of auto insurance has arrived, and it is expected that the growth rate of auto insurance premium will change from negative to positive this year and enter a steady growth trend; In terms of non auto insurance business, it is expected that liability insurance, agricultural insurance, accident insurance and health insurance will continue to drive the high growth of non auto insurance. On the whole, the scale effect is significant, and the “strong and strong” of leading insurance enterprises is expected to continue.
