Core Viewpoint - The insurance industry is experiencing a downward trend in preset interest rates for insurance products, with the current maximum preset interest rate for participating insurance products being lowered to 1.5%, marking a historical low [1][4][8]. Group 1: Current Market Trends - The preset interest rate for participating insurance products has been reduced to 1.5%, down from the previous regulatory cap of 2.0% established in October of last year [1][4]. - Several insurance companies, including Zhongyi Life and Tongfang Global Life, have launched products with a preset interest rate of 1.5% [2][3]. - The downward adjustment of preset interest rates is expected to continue, with industry insiders predicting further declines [1][4]. Group 2: Regulatory Changes - The China Insurance Regulatory Commission has issued a notification to establish a mechanism linking preset interest rates to market rates, which will guide insurance companies in pricing their products [4][5]. - The notification outlines that if the maximum preset interest rate exceeds the research value by 25 basis points for two consecutive quarters, a downward adjustment will be required [5][6]. Group 3: Historical Context - Historically, preset interest rates for insurance products have been adjusted several times, with significant reductions occurring in 1999, 2013, and 2019, leading to a long-term downward trend [7][8]. - The preset interest rates peaked in the early 1990s, reaching as high as 7% to 10%, but have since declined significantly due to changes in the economic environment [7][8]. Group 4: Industry Challenges - The insurance industry is facing multiple challenges, including increased risk of interest spread losses, changing customer demands, and intensified competition [3][4]. - The decline in preset interest rates is expected to reduce the attractiveness of insurance products to consumers, complicating sales efforts for insurance companies [8][9]. Group 5: Future Outlook - The insurance sector is urged to innovate by developing floating yield insurance products and non-interest-sensitive products to adapt to the changing market [9][10]. - Despite the challenges, the insurance industry has seen growth due to increasing household wealth and changing asset allocation preferences among consumers [10].
保险预定利率走入历史低位
Jing Ji Guan Cha Bao·2025-06-18 02:33