险资年内举牌次数接近去年全年，扫货高股息资产

Core Viewpoint - Xinhua Insurance has acquired a 5.09% stake in Hangzhou Bank, becoming its fourth-largest shareholder, reflecting a trend of insurance companies increasing investments in high-dividend bank stocks in 2025 [1][2][4]. Group 1: Transaction Details - Xinhua Insurance purchased 330 million shares of Hangzhou Bank from the Commonwealth Bank of Australia at a price of 13.095 yuan per share, totaling approximately 4.317 billion yuan [2]. - The transaction was initiated in January 2025 and completed with the approval from the National Financial Regulatory Administration [2][3]. - Following the acquisition, Xinhua Insurance holds a total of 363 million shares in Hangzhou Bank, solidifying its position as a significant stakeholder [2]. Group 2: Industry Trends - In 2025, insurance companies have made 15 equity acquisitions, with a notable focus on bank stocks, indicating a strategic shift towards high-dividend assets [4][5]. - The preference for bank stocks is attributed to declining long-term interest rates and the need for asset reallocation, as insurance companies seek stable dividend returns [5][6]. Group 3: Regulatory Environment - Recent regulatory initiatives have encouraged insurance funds to invest in the capital market, aiming to enhance the stability and proportion of insurance capital in A-shares [7][8]. - The government has introduced policies to facilitate long-term investments by insurance companies, including lowering risk factors for stock investments and promoting a "long money, long investment" strategy [7][8].