Mei Ri Jing Ji Xin Wen·2025-09-04 12:24Core Viewpoint - The insurance industry is shifting towards dividend insurance sales in response to the reduction in the predetermined interest rate, with major listed insurance companies reporting significant growth in this segment despite challenges posed by the new interest rate environment [1][9]. Dividend Insurance Sales Performance - In the first half of 2025, major insurance companies have set ambitious targets for dividend insurance sales, with many aiming for a 50% sales ratio [1]. - Taiping Life reported that dividend insurance accounted for 87.1% of first-year premium income in long-term insurance, while China Pacific Life's new premium income from dividend insurance rose to 42.5%, with agent channels contributing 51% [5][2]. - China Life, Ping An, and other leading insurers have also seen substantial increases in dividend insurance premiums, with Ping An leading at approximately 500 billion yuan, a 40.94% increase year-on-year [4][5]. Market Dynamics and Challenges - The recent adjustment in predetermined interest rates has led to a decrease in the maximum rate for dividend insurance from 2% to 1.75%, which may reduce the attractiveness of these products and increase sales difficulty [1][9]. - Despite this, insurance companies are optimistic about the potential for dividend insurance to become a mainstream product, with expectations for increased market share in the second half of the year [1][10]. Strategic Initiatives for Transformation - Companies are implementing various strategies to promote dividend insurance, including performance assessments, commission adjustments, and tailored product offerings [7][8]. - China Pacific Life has outlined a four-pronged approach to enhance its dividend insurance business, focusing on mindset shifts, differentiated channel strategies, regional adaptations, and resource allocation [7]. - New China Life has established a leadership group to drive the transformation towards dividend insurance, indicating a commitment to overcoming previous sales challenges [8]. Future Outlook - The insurance sector anticipates that the shift towards dividend insurance will accelerate, with companies planning to increase the supply and competitiveness of these products [9][10]. - Ping An has indicated that wealth and pension products will transition to dividend types, reflecting a broader industry trend towards flexible, floating-yield products in response to changing market conditions [11].