万能险结算利率再“缩水” 6成不足3% 保险公司加速重构产品吸引力

Core Viewpoint - The overall trend of universal insurance settlement rates is declining, with a significant drop in the proportion of products offering rates above 3% [1][3][11] Industry Trends - As of August, only 34% of universal insurance products had settlement rates above 3%, down from over 53% in January, with a median rate of 2.7% compared to 3% earlier in the year [1][3] - The decline in settlement rates is attributed to the overall downward trend in market interest rates, prompting insurance companies to optimize asset allocation and manage duration to stabilize investment returns [2][12] Product Structure Changes - The industry is shifting from scale expansion to value cultivation, with an increased focus on participating insurance and universal insurance products, leading to a reduction in guaranteed rates for new products [2][12] - Insurance companies are adopting a "guarantee + floating" model to balance customer returns with company risks, indicating a strategic shift in product offerings [2][12] Regulatory Impact - New regulations effective from May 2025 will require insurance companies to prudently determine settlement rates based on actual investment conditions, encouraging a more competitive market environment [11][12] - The recent adjustments in settlement rates reflect compliance with regulatory expectations and a response to the macroeconomic interest rate decline [11][12] Consumer Perspective - Despite the lower settlement rates, universal insurance products still offer advantages over traditional bank deposits, particularly in the context of reduced interest rates for fixed-term deposits [7][9] - The flexibility of universal accounts allows for cash management, but consumers are advised to evaluate the underlying insurance products and their alignment with personal needs [7][9]