万能险结算利率创新低 行业面临大变局？

Core Insights - The median settlement interest rate for universal life insurance products in April is 2.75%, showing a downward trend compared to the same period last year and the end of last year [1][3] - The total premium income from universal life insurance has decreased by 7.8% year-on-year, with new policyholder investment contributions amounting to 260.5 billion yuan in the first quarter [3][4] Group 1: Settlement Interest Rates - A total of 748 universal life insurance products have released their April settlement interest rates, with the highest rate at 3.5% for 21 products [3] - 41.4% of the products have settlement interest rates of 3% or above, while 58.6% are below 3% [3] - Historical data shows a continuous decline in both the median and arithmetic average settlement interest rates since the beginning of the year [3] Group 2: Market Impact Factors - Factors such as the decline in settlement interest rates, stricter regulatory policies, and competition have negatively impacted the sales of universal life insurance [4] - The new regulatory cap on the minimum guaranteed interest rate for newly filed universal life insurance will be reduced to 1.5% starting October 1, 2024 [4] - Insurance companies are shifting their focus towards promoting participating insurance products, with many aiming to increase the sales ratio of these products to 50% or more [4]