269款万能险产品披露9月份结算利率

Core Insights - The average settlement interest rate for universal life insurance products has decreased to 2.68%, down approximately 18 basis points year-on-year, with 68.4% of the 269 products reporting rates below 3% [1][3][4] Group 1: Settlement Interest Rates - As of October 12, 2023, 269 universal life insurance products disclosed their September settlement interest rates, with the highest at 3.50% and the lowest at 0.36% [1] - The proportion of products with settlement rates above 3% has significantly dropped from about 62% in the previous year to 31.6% this year [3][4] - The majority of products, 66.5%, reported settlement rates between 2% and 3%, while 5 products had rates below 2% [3] Group 2: Factors Influencing Rate Decline - The decline in settlement interest rates is attributed to three main factors: pressure on investment returns, regulatory guidance to prevent interest rate risk, and insurance companies' proactive adjustments to lower liability costs [2][4] - Regulatory measures introduced in April 2023 require insurance companies to align settlement rates with actual investment returns, thereby capping the maximum rates [4][6] Group 3: Market Trends and Future Outlook - The universal life insurance market has shown a slight decline in premium income, with new policyholder investment contributions totaling 458.8 billion yuan in the first eight months of the year, a marginal decrease from the previous year [5] - The rise of guaranteed return products, such as whole life insurance, has diverted demand from universal life insurance, as consumers prefer products with more predictable returns in a declining interest rate environment [5][6] - The industry is shifting towards floating return products, with dividend insurance becoming the mainstream choice, although universal life insurance will continue to meet specific long-term financial needs due to its flexibility [6][7]