股权变更获批 新华保险跻身杭州银行第四大股东谋银保生态闭环

Core Viewpoint - The recent approval of the share transfer from Australia and New Zealand Banking Group to New China Life Insurance Company signifies a strategic move to enhance asset allocation and strengthen the financial service capabilities of New China Life in the banking sector [1][2]. Group 1: Share Transfer Details - Hangzhou Bank announced the transfer of 329,638,400 shares from Australia and New Zealand Banking Group to New China Life at a price of 13.095 yuan per share, totaling approximately 4.317 billion yuan [2]. - Following the transfer, New China Life will hold a total of 356,555,844 shares, representing 5.63% of Hangzhou Bank's total ordinary shares as of April 14, 2025, making it the fourth-largest shareholder [2]. Group 2: Insurance Companies Increasing Bank Holdings - Since the beginning of 2024, multiple insurance companies have increased their stakes in various banks, including Changcheng Life acquiring Wuxi Bank and Xintai Life increasing holdings in Zhejiang Commercial Bank and Beijing Bank [3]. - New China Life and Ping An Life have also raised their stakes in major banks such as China Construction Bank and Postal Savings Bank [3]. Group 3: Reasons for Insurance Companies' Preference for Bank Stocks - The decline in long-term interest rates and the maturity of high-yield assets have pressured insurance companies to reallocate their assets, making bank stocks attractive due to their high dividends and stable returns [4]. - New accounting standards have led insurance companies to favor high-dividend assets and long-term equity investments to reduce profit volatility [4]. Group 4: Policy Support for Insurance Capital Allocation - In 2024, insurance companies have made 28 equity investments in listed companies, with New China Life being active in acquiring stakes in various firms [6]. - New China Life emphasizes its commitment to increasing equity asset allocation, aligning with national policies to support the development of the capital market and the real economy [7][8].