智通财经网·2025-08-12 06:57Core Viewpoint - The insurance sector is experiencing a positive market response, with major companies seeing significant stock price increases following the announcement of a reduction in the preset interest rate for traditional insurance products, which is expected to enhance the attractiveness of participating insurance products [1][1]. Group 1: Stock Performance - China Pacific Insurance (02601) increased by 5.14%, reaching HKD 33.56 [1] - China Property & Casualty Insurance (02328) rose by 2.86%, reaching HKD 16.93 [1] - New China Life Insurance (01336) grew by 2.72%, reaching HKD 48.38 [1] - Ping An Insurance (02318) saw a rise of 1.92%, reaching HKD 55.8 [1] Group 2: Regulatory Changes - The latest research value for the preset interest rate in the traditional insurance sector is 1.99%, which has triggered conditions for a rate reduction according to current regulatory policies [1] - The preset interest rate research value has been below the current level by 25 basis points for two consecutive quarters, activating the downward adjustment mechanism [1] - Major insurance companies are expected to announce preset interest rate reductions and complete product transitions by the end of August [1] Group 3: Industry Outlook - Dongwu Securities indicates that the reduction in preset interest rates will lead to a continued decrease in the cost of new business liabilities, improving the average cost of existing policies over time [1] - The stabilization and upward trend of long-term interest rates, along with a strong stock market, are expected to alleviate the pressure on the life insurance industry's interest spread [1] - Following the adjustment of preset interest rates, the guaranteed returns on participating insurance products will only be 25 basis points lower than traditional insurance, making them more attractive to customers [1] - An accelerated shift towards participating insurance products is anticipated, which will further relieve the rigid cost pressures faced by insurance companies [1]