引导“长钱长投” 险企多项业务风险因子下调

Core Viewpoint - The Financial Regulatory Bureau has issued a notification adjusting risk factors for insurance companies' investments, aiming to encourage long-term capital and support technological innovation [1][2]. Group 1: Risk Factor Adjustments - Insurance companies holding stocks from the CSI 300 Index and the CSI Low Volatility 100 Index for over three years will see their risk factor reduced from 0.3 to 0.27 [1]. - For stocks listed on the Sci-Tech Innovation Board held for over two years, the risk factor will decrease from 0.4 to 0.36 [1]. - The notification also lowers the premium risk factor for export credit insurance and overseas investment insurance from 0.467 to 0.42, and the reserve risk factor from 0.605 to 0.545 [3]. Group 2: Impact on Insurance Industry - The adjustments are expected to alleviate capital occupation for insurance companies, enhancing solvency ratios and encouraging long-term investments in the stock market [2]. - The industry is likely to shift towards a "long-term holding" strategy, focusing on high-dividend blue-chip stocks and stocks supported by national strategies [2]. - There will be a greater emphasis on "long-term capability" in internal assessments and investment research systems, aligning with long-term performance [2]. Group 3: Industry Demand and Suggestions - In a low-interest-rate environment, there is a growing demand for equity asset allocation among insurance companies, with calls for optimized solvency policies [3]. - Suggestions include further refining risk factor classifications based on investment fields and holding periods, providing capital advantages for long-term strategic stocks [3].