九成险企上半年投资收益率不足3%

Core Insights - Over 130 non-listed insurance companies in China have released their solvency reports for Q2, revealing investment performance for the first half of the year [1] - The average investment yield is 1.96%, while the average comprehensive investment yield is 2.21%, with about 90% of companies reporting yields below 3% [1] - There is a significant disparity in investment capabilities among insurance companies, with yields ranging from -0.14% to 22.15% [1] Investment Yield Analysis - 11 insurance companies, including Beijing Life and Guoren Property Insurance, achieved investment yields exceeding 3% due to effective investment strategies [1] - Conversely, 18 companies reported yields below 1%, and two companies, AXA Global Re and Zhonglu Property Insurance, reported negative yields of -0.14% and -0.12% respectively [1] - The negative yields are attributed to the classification of investment assets and market volatility affecting fair value measurements [1] Comprehensive Investment Yield - Comprehensive investment yield includes unrealized gains and losses, providing a broader view of market value changes, but is more volatile than investment yield [2] - Typically, comprehensive investment yield is slightly higher than investment yield, as seen with Changcheng Life and Taikang Online [2] - The difference between investment yield and comprehensive investment yield can be significant due to asset classification and trading strategies [2]