Individual stocks in the Hong Kong insurance sector rose collectively today. As of press time, AIA (01299) rose 4.84% to HK $84.55, with a turnover of 1.953 billion. Ping An Insurance (Group) Company Of China Ltd(601318) (02318) rose 4.68% to HK $63.75, with a turnover of 875 million. New China Life Insurance Company Ltd(601336) (01336) rose 3.84%, China Pacific Insurance (Group) Co.Ltd(601601) (02601) rose 2.75%, China Taiping (00966) rose 2.55%, China Life Insurance Company Limited(601628) (02628) rose 2.2%.
On the news side, the China Banking and Insurance Regulatory Commission released the operation of the insurance industry in 2021 on January 25: calculated by comparable standards, the original insurance premium income of the whole industry (Note: the premium in the text refers to the original insurance premium) increased by 4.05% year-on-year, the insured amount increased significantly by 40.71%, and the compensation expenditure of the original insurance increased by 14.12%. “The growth rate of insurance amount and compensation is much higher than that of premium, which shows that insurance is gradually returning to the guarantee function and taking the road of high-quality development.” Said Xie Yuantao, Dean of the school of insurance of the University of international business and economics.
