上市险企力推业务结构转型 分红险占比持续提高

Core Viewpoint - The insurance industry is shifting towards promoting dividend insurance products, with a significant increase in their market share and sales efforts by listed insurance companies [1][4]. Group 1: Industry Trends - As of April 9, 2025, 38% of the 185 newly registered life insurance products are dividend insurance, marking a 10 percentage point increase from the previous year [1]. - The introduction of the "National Ten Articles" by the State Council emphasizes the need for product transformation and supports the development of floating income insurance [4]. Group 2: Company Strategies - Major insurance companies, including China Life and China Pacific Insurance, are focusing on enhancing their dividend insurance offerings to cater to diverse customer needs and improve product structures [2][4]. - New China Life's management has highlighted the strategic importance of dividend insurance, aiming for significant growth in first-year premium income from long-term dividend insurance [2]. Group 3: Financial Mechanisms - Dividend insurance features a "fixed + floating" income mechanism, allowing companies to lower rigid liabilities while potentially offering higher returns compared to traditional insurance products [3]. - The regulatory cap on the preset interest rate for dividend insurance is set at 2.0%, compared to 2.5% for regular insurance, providing more flexibility for companies to manage liabilities [3]. Group 4: Future Outlook - Industry experts predict that the proportion of dividend insurance will exceed 50% in the near future, driven by ongoing regulatory support and market demand [4]. - Companies are optimistic about achieving superior investment returns on dividend insurance, which will enhance its competitiveness in the market [5].