金融监管总局人身险司向业内发文，分红险分红水平不得“内卷式”竞争

Core Viewpoint - The Financial Regulatory Administration has issued a directive to life insurance companies regarding the regulation of dividend levels in participating insurance policies, emphasizing the need for justification of proposed dividend levels based on actual asset-liability and investment income situations [1] Group 1: Regulatory Requirements - The directive requires insurance companies to thoroughly justify the necessity, rationality, and sustainability of proposed dividend levels [1] - Companies are instructed not to deviate from actual asset-liability and investment income situations to avoid "involution-style" competition by artificially inflating dividend levels [1] - Insurance companies must balance the relationship between predetermined interest rates for dividend insurance and floating returns, as well as the demonstration of benefits and actual dividend realization rates [1] Group 2: Product Management - Each company is expected to prudently determine the annual dividend levels for their products based on the characteristics of each account's asset allocation and actual investment returns [1]