智通财经APP获悉，香港联交所最新资料显示，1月12日，贝莱德增持友邦保险(01299)2686.9334万股， 每股作价83.7565港元，总金额约为22.5亿港元。增持后最新持股数目约为7.44亿股，最新持股比例为 7.08%。 ...

"十四五"以来，我国金融业以加快建设金融强国为目标，在服务实体经济、防控金融风险、深化改革开放中实现了规模与质量的历史性跨越。跨入"十五 五"，科技自立、绿色转型、人口老龄化与外部博弈交织，金融体系亟待从规模扩张转向质量效益跃升。 在人口老龄化加速与居民养老意识不断提升的背景下，养老金融已成为保险行业服务民生、助力经济高质量发展的重要抓手。作为外资寿险领域标杆企 业，友邦人寿始终秉持"客户驱动"理念，致力于构建覆盖全生命周期的健康与养老保障体系。友邦人寿保险有限公司江苏分公司（以下简称"友邦江苏"） 坚持以客户为中心，积极布局养老金融，深耕保障型产品市场，全力打造江苏地区养老金融第一品牌。友邦江苏总经理杨东强近日表示，公司将持续加大 在养老金融领域战略投入，以"保障专家"角色强化专业能力、创新服务模式和人才培养机制，助力更多江苏家庭实现"健康长久好生活"。 深化布局持续创新 做江苏养老金融第一品牌 国家卫健委在"十五五"规划中明确提出，未来五年人口的人均预期寿命将提升至约80岁。在更长的生命周期里，能够提供长期 、稳定的养老现金流，正 成为现代家庭的迫切需求。与此同时，政策层面也在积极引导与支持养老金融体系的 ...

Market Overview - The Hang Seng Index (HSI) closed at 26,783.18, down by 216.63 points or 0.80% as of January 14, 16:00 Eastern Time [1] - The index reached a high of 26,918.58 and a low of 26,724.89 during the trading session, with a trading volume of 82.41 million [1] Major Blue-Chip Stocks Performance - HSBC Holdings closed at HKD 127.501, up by 0.39% compared to the Hong Kong close [2] - Tencent Holdings closed at HKD 632.594, down by 0.06% compared to the Hong Kong close [2] Stock Price Movements - Tencent Holdings (00700) latest price is HKD 633.000, with an increase of HKD 5.500 or 0.88%, but its ADR price is HKD 632.594, showing a decrease of HKD 0.406 [3] - Alibaba Group (09988) latest price is HKD 169.000, up by HKD 9.100 or 5.69%, with an ADR price of HKD 165.595, down by HKD 3.405 [3] - HSBC Holdings (00005) latest price is HKD 127.000, up by HKD 0.600 or 0.47%, with an ADR price of HKD 127.501, up by HKD 0.501 [3] - Other notable movements include Meituan (03690) down by 3.24% and Ctrip Group (09961) down by 6.49% [3]

Core Viewpoint - The Hang Seng Index (HSI) experienced a slight decline, closing at 26,787.80, down 0.23% from the previous close, indicating a mixed performance in the Hong Kong stock market [1]. Group 1: Market Performance - The Hang Seng Index closed at 26,787.80, down 60.67 points or 0.23% [1]. - The index reached a high of 26,950.81 and a low of 26,739.26 during the trading session, with a trading volume of 52.77 million shares [1]. - The average price for the session was 26,845.04, with a 52-week high of 27,275.90 and a low of 19,335.70 [1]. Group 2: Major Blue-Chip Stocks - HSBC Holdings closed at HKD 127.188, up 0.62% compared to the previous close [2]. - Tencent Holdings closed at HKD 624.864, down 0.42% from the previous close [2]. - Alibaba Group saw a price increase of 3.63%, closing at HKD 159.900 [3]. - Other notable performances include AIA Group up 0.84% at HKD 84.400 and China Construction Bank up 1.17% at HKD 7.810 [3].

格隆汇1月13日｜据彭博，知情人士透露，汇丰前主席杜嘉祺将以顾问这个特别身份继续留在该行，超 出原来计划的时间。而杜嘉祺已于近期出任友邦保险主席。当被问及杜嘉祺身兼两职可能存在的利益冲 突时，友邦的一位代表表示，他的外部活动有适当的监管、充分的披露，且不会影响他对友邦的职责以 及时间投入。汇丰发言人表示，杜嘉祺继续担任汇丰董事会和集团行政总裁的顾问，符合所有适当治理 和信息披露要求。 ...

| 度寿险行业十大烈 | | | | --- | --- | --- | | 序号 | 姓名 | 职务 | | 1 | 醇亚芹 | 农银人寿董事长 | | 2 | 王颖 | 招商信诺章事长 | | 3 | 童天喜 | 中意人寿董事长 | | 4 | 何六艺 | 幸福人寿青事长 | | 5 | 鲁伟鼎 | 民生人寿董事长 | | 6 | 白力 | 长城人寿节事长 | | 7 | 王庆艳 | 交银人寿节事长 | | 8 | 李存强 | 中信保诚人寿董事长 | | 9 | 前华军 | 英大人寿董事长 | | 10 | 《张宇 | 友邦人寿青事长 | | 榜单尚明:排名不分先后,围绕专业能力、业绩表现 行业层 | | | | 响力等维度综合评选得出。 | | | 2025年，张晓宇带领公司实现净利稳步增长，成立独立资管公司，实现资产端与负债端高效协同，提升 资金管理能力。 "2025年度寿险行业十大杰出人物"榜单围绕专业能力、业绩表现、行业影响力等维度综合评选得出。 张晓宇，男，1976年出生，复旦大学并获得应用数学系硕士学位，拥有北美精算师资格认证。于2000年 加入友邦保险，2025年3月起任友邦人寿董事长。曾先 ...

大行评级｜高盛：友邦保险对今年内地及香港市场增长前景持乐观态度 评级"买入" 星展上调友邦保险 目标价至106港元 相关事件 瑞银发表研究报告指，友邦保险管理层出席了该行的大中华研讨会(GCC)，公司认为集团新业务价值可 保持约15%至17%(mid-teens)增长，既合理又可持续，主要驱动因素包括：活跃代理人数高个位数增 长、持续提升代理生产力、来自合作渠道(如银保、经纪)的补充上行空间。该行重申友邦"买入"评级， 目标价为88港元。 ...

Investment Logic - The core view is that new individual insurance premiums for listed insurance companies are expected to achieve double-digit growth by 2026, primarily driven by the bancassurance channel [1][18] - The individual insurance channel is anticipated to maintain steady growth, while the bancassurance channel will benefit from the migration of deposits, leading to an increase in market share for large insurance companies [1][18] - The growth in the bancassurance channel is expected to dilute fixed costs, significantly enhancing overall profitability [1][18] Bancassurance Channel - Since 2020, leading insurance companies have refocused on the bancassurance channel, transitioning from scale compensation to value pursuit, resulting in a rise in market share [2][8] - The bancassurance channel has seen a compound annual growth rate (CAGR) of 16.2% from 2019 to 2023, while individual insurance premiums have declined [9] - The "reporting and banking integration" policy implemented in August 2023 has significantly reduced costs, enhancing the value rate of the bancassurance channel [14][9] Customer Deposit Analysis - A survey of 88 frontline bank wealth managers indicates that a significant portion of residents' deposits will mature in 2026, with expectations of low renewal rates due to the withdrawal of high-yield time deposits [3][25] - The majority of maturing depositors are aged 45 and above, indicating a lower risk appetite, with insurance products being the second choice for reallocating maturing deposits [4][30] - Wealth managers believe that bank wealth management products will be the most accepted option for maturing deposits, followed by insurance products [30][27] Sales Logic for Insurance Products - Wealth managers prioritize customer returns and the brand of insurance companies when recommending insurance products [5][33] - The core advantages of participating in dividend insurance sales include stable returns, capital safety, and alignment with long-term financial planning [36][40] - Challenges in selling dividend insurance include uncertainty in returns and the long duration of products, which may deter potential customers [40][36] Market Forecast - The insurance industry is projected to see new single premium growth exceeding 25% in 2026, driven by the bancassurance channel [42][44] - The expected influx of maturing deposits into insurance products will be significant, with estimates of new funds in the bancassurance channel reaching 11,150 billion by the end of 2026 [44][44] - The concentration trend among leading insurance companies is expected to continue, with larger firms benefiting from improved profitability in the bancassurance channel [47][48]

Investment Rating - The report maintains a positive investment rating, recommending continued active investment in the insurance sector due to expected double-digit growth in new premiums driven by the bancassurance channel [5]. Core Insights - The insurance industry is projected to achieve double-digit growth in new premiums by 2026, primarily driven by the bancassurance channel, which benefits from the migration of deposits and the competitive advantages of large insurance companies [1][26]. - The bancassurance channel has seen a significant increase in market share, with the "old seven" insurance companies' new premium market share rising from 8.2% in 2019 to 23.8% in 2023, and expected to reach 26.0% in 2024 [2][22]. - A survey of 88 frontline bank wealth managers indicates that a substantial portion of household deposits will mature in 2026, with expectations that many will not be renewed, leading to a shift towards insurance products [3][35]. - The demographic of clients with maturing deposits is predominantly older, with a lower risk appetite, making insurance products a preferred option for reallocating funds [4][40]. - The report highlights that the bancassurance channel's growth will significantly enhance the overall profitability of large insurance companies by spreading fixed costs over a larger premium base [1][26]. Summary by Sections Bancassurance Channel - The bancassurance channel is identified as the main driver of value growth in the insurance industry for 2026, with a compound annual growth rate of 16.2% from 2019 to 2023 [12]. - The report notes that the shift in focus from individual insurance channels to bancassurance began in 2020, driven by the need to compensate for declining individual premium growth [2][12]. Bank Wealth Manager Survey Analysis - The survey indicates that a significant portion of maturing deposits will not be renewed, with expectations that 50% of clients will have deposits maturing in the 10%-30% and 30%-50% ranges [3][35]. - Wealth managers believe that the most acceptable financial products for clients will be bank wealth management and insurance, with insurance ranking second [4][40]. Projections for 2026 - The report estimates that the new premium growth rate for the bancassurance channel will exceed 25% in 2026, with expected incremental funds of 3,057 billion in January, 5,094 billion in Q1, and 11,150 billion for the entire year [5][62]. - The anticipated growth is attributed to the large volume of maturing deposits and the expected shift towards insurance products due to lower renewal rates for traditional bank deposits [60].

Group 1 - Anta Sports-R (82020), Tencent Holdings-R (80700), and Geely Automobile-R (80175) have the highest short-selling ratios at 100.00%, 90.92%, and 80.03% respectively [1][2] - Meituan-W (03690), Alibaba-W (09988), and Tencent Holdings (00700) lead in short-selling amounts, with 1.554 billion, 1.440 billion, and 1.253 billion respectively [1][2] - Tencent Holdings-R (80700), China Wangwang (00151), and Country Garden (02007) have the highest deviation values at 45.18%, 36.17%, and 33.66% respectively [1][2] Group 2 - The top short-selling amounts are led by Meituan-W (03690) at 1.554 billion, followed by Alibaba-W (09988) at 1.440 billion, and Tencent Holdings (00700) at 1.253 billion [2] - The top short-selling ratios include Anta Sports-R (82020) at 100.00%, Tencent Holdings-R (80700) at 90.92%, and Geely Automobile-R (80175) at 80.03% [2] - The highest short-selling deviation values are observed in Tencent Holdings-R (80700) at 45.18%, China Wangwang (00151) at 36.17%, and Country Garden (02007) at 33.66% [2][3]