开源证券：预计上市险企未来新单保费保持平稳增长

Core Insights - Regulatory authorities are continuously standardizing the insurance industry from multiple aspects including regulatory mechanisms, channels, products, and services [1] - The individual insurance channel is currently under pressure, while the high-quality development of bancassurance is showing initial results, benefiting leading insurance companies with diversified channel layouts [1] - The transformation of participating insurance has become an industry consensus, with further deepening of this transformation expected among various insurance companies [1] Industry Trends - There is a strong demand for retirement solutions, and participating savings insurance policies offer both guaranteed and flexible returns, along with unique advantages in insurance protection, retirement, and medical support services [1] - The market share of leading insurance companies is expected to increase, with listed insurance companies projected to maintain stable growth in new premium income [1] - The reduction in the predetermined interest rate is anticipated to gradually lower liability costs, while the transformation of participating insurance will lead to a continuous increase in equity asset allocation on the asset side [1] - Attention should be paid to the impact of long-term interest rate changes [1]