再创新高！36万亿险资投向这些领域

Core Viewpoint - The insurance fund utilization balance has exceeded 36 trillion yuan, showing a year-on-year growth of 17.4%, driven by strong savings demand and a recovering stock and bond market [1] Group 1: Insurance Fund Utilization - As of the end of Q2 this year, the total insurance fund utilization balance reached 36 trillion yuan, with life insurance companies holding 32.60 trillion yuan and property insurance companies holding 2.35 trillion yuan [1] - The increase in insurance fund utilization is attributed to stable cash flow from premium growth and rising financial asset prices due to market recovery [1] Group 2: Stock Investment Trends - Stock investments are increasingly favored, with life insurance companies investing 2.87 trillion yuan in stocks, accounting for 8.81% of their total investments, up 1.8 percentage points from the same period last year [2] - Property insurance companies have invested 195.5 billion yuan in stocks, representing 8.33% of their total investments, an increase of 1.84 percentage points year-on-year [2] - The number of equity stakes taken by insurance funds has reached 27 this year, surpassing last year's total of 20, indicating a growing enthusiasm for equity investments [2] Group 3: Bond Investment as a Mainstay - Bonds remain the primary investment for insurance funds, with a total bond investment balance of 17.87 trillion yuan, an increase of 1.94 trillion yuan since the beginning of the year [3] - Life insurance companies hold 16.92 trillion yuan in bonds, making up 51.90% of their total investments, while property insurance companies hold 945.5 billion yuan, accounting for 40.29% [3] - Recent tax policy changes regarding bond interest income may influence future investment strategies, with a potential shift towards high-dividend stocks to mitigate the impact of increased taxation on bond yields [3]