Recently, the five major A-share listed insurance companies disclosed the original insurance premium income in the first two months, China Life Insurance Company Limited(601628) , The People’S Insurance Company (Group) Of China Limited(601319) , Ping An Insurance (Group) Company Of China Ltd(601318) , China Pacific Insurance (Group) Co.Ltd(601601) and New China Life Insurance Company Ltd(601336) realized a total of 734825 billion yuan of original insurance premium income, an increase of 2.91% year-on-year.
Except for China Life Insurance Company Limited(601628) , the four insurance companies increased year-on-year. The original insurance premium income of The People’S Insurance Company (Group) Of China Limited(601319) , Ping An Insurance (Group) Company Of China Ltd(601318) , China Pacific Insurance (Group) Co.Ltd(601601) 601 , New China Life Insurance Company Ltd(601336) was 159246 billion yuan, 183153 billion yuan, 104842 billion yuan and 46.384 billion yuan, with year-on-year increases of 17.04%, 1.22%, 5.94% and 5.20% respectively. The income of China Life Insurance Company Limited(601628) the first two months of life insurance was 241.2 billion yuan, a year-on-year decrease of 5.04%.
It can also be seen that the spring market of insurance is boosting market confidence. With the breaking of the new regulations of asset management and the just exchange of bank financial management, the long-term decline of risk-free interest rate and the decline of risk appetite caused by the fluctuation of equity market, the advantages of savings insurance products locking in long-term income have increased significantly. Since 2022, listed insurance companies have launched life insurance with increased amount and promoted sales as main products, such as ping an “Shengshi Jinyue”, Pacific Insurance “long-term Companion (Zhenxiang version)”, Guoshou “Zhenxiang heirloom”, Xinhua “glory life life” and Taiping “Suiyue Tianfu”. In addition to the characteristics of increasing insurance amount, the product form of increased life insurance is relatively flexible, which usually includes annuity conversion or reduction of insurance rights and interests, It is conducive to customers’ flexible withdrawal of cash value during their lifetime through the use of equity, so as to achieve the purpose of long-term savings.
