中信证券：保险行业一季报超预期 重申板块强于大市判断

Core Viewpoint - The insurance industry’s Q1 report exceeded expectations, indicating strong performance among leading companies and validating strategic shifts in business models [1] Group 1: New Business Value Growth - High growth in new business value confirms that leading companies are benefiting from market reshuffling [1] Group 2: Transformation of Dividend Insurance - The successful transformation of dividend insurance by some leading companies validates the feasibility of transitioning from self-operated models to asset management business models [1] Group 3: Improvement in Core Solvency Ratio - Significant improvement in the core solvency ratio verifies that leading companies have accumulated substantial floating profits by extending asset durations over the past five years [1] Group 4: Investment Outlook - The company reaffirms the judgment that the insurance sector will outperform the market, indicating that listed insurance companies hold investment value [1]