Zhi Tong Cai Jing·2025-11-30 11:04Group 1 - The impact of real estate on the asset side of insurance companies is limited, while signs of recovery on the liability side are emerging, indicating an expected strong performance in 2026 [1] - The non-bank sector shows potential for fundamental improvement, particularly benefiting from the influx of resident capital into the market [1] - The proportion of real estate-related assets held by listed insurance companies has significantly decreased, and asset quality has improved compared to previous periods [1] Group 2 - The average daily trading volume of stock funds this week was 17,939 billion yuan, down from 20,380 billion yuan [2] - As of November 28, 2025, the underwriting scale for IPOs and private placements reached 9,526 billion yuan, with corporate bonds and convertible bonds financing scales at 197 billion yuan and 564 billion yuan respectively [2] - The insurance industry reported a cumulative premium income of 52,146 billion yuan from January to September 2025, reflecting an 8.8% year-on-year increase [3]