分红险红利实现率整体上升主流产品收益率3%~3.2%

Core Viewpoint - The dividend insurance market is experiencing a resurgence, with many products showing an increase in dividend realization rates compared to the previous year, and some products exceeding 100% realization rates [1][2]. Group 1: Dividend Realization Rates - The overall dividend realization rates for dividend insurance products have increased, with many new products launched after October last year achieving rates of 100% or more [2][3]. - For instance, Xinhua Insurance reported that among its 71 dividend insurance products, 7 had realization rates exceeding 100%, and the average realization rate for products with historical performance was 57%, up from 19% in 2023 [2]. - Ping An Life announced that 11 out of 12 new dividend insurance products launched after September 2024 had realization rates of 100%, with one product reaching 114% [3]. Group 2: Impact on Returns - The realization rate directly affects the floating returns of dividend insurance and reflects the investment performance of insurance companies [4]. - The theoretical yield for products with a realization rate of 100% or higher is estimated to be between 3% and 3.2% [4]. - A specific product from a major insurance company is projected to have a realization rate of 114%, with combined fixed and dividend returns of 3.2% [4]. Group 3: Regulatory Environment - Recent regulatory guidance aims to enhance the sustainable operation of dividend insurance and protect consumer rights, introducing a tiered regulatory approach [6]. - Companies must justify proposed dividend levels based on their investment returns and past performance, particularly if they exceed certain thresholds [6]. - Analysts believe that this regulatory framework will lead to a differentiation in dividend realization rates among insurance companies, with stronger companies likely to offer higher rates [7].