肖远企提示利率双向波动，险企如何应对比低利率更大的挑战

Core Viewpoint - The insurance industry is facing complex challenges due to the transition from a long-term low-interest environment to one characterized by high-frequency and significant interest rate fluctuations, necessitating a dynamic balance between assets and liabilities [1][4]. Group 1: Challenges Faced by the Insurance Industry - The recent rebound in interest rates in various countries has heightened concerns among professionals regarding the management of interest rate fluctuations [3]. - Historically, many economies experienced a prolonged low-interest environment, leading insurance companies to adopt risk management strategies based on a unidirectional interest rate trend [3][4]. - Since 2022, the Federal Reserve has significantly raised the federal funds rate from 0%-0.25% to a range of 5.25%-5.5% in response to rising inflation, with other major economies also maintaining higher interest rates [3][4]. Group 2: Strategic Adjustments Required - The insurance industry must adjust its operational logic to accommodate the dual fluctuations in interest rates, which significantly impact both the asset and liability sides of insurance companies [5]. - The promotion of participating insurance products is a strategic response to manage interest rate fluctuations, as these products allow for flexible dividend distribution based on investment performance [5][6]. - Insurers are encouraged to enhance the sales of flexible products such as universal life insurance and investment-linked insurance, which can dynamically adjust returns based on market conditions [6]. Group 3: Product Development and Customer Engagement - The insurance sector should focus on developing more protection-oriented products, such as health and accident insurance, which are less affected by interest rate changes and can meet basic consumer needs [7]. - Implementing products with flexible yield adjustment mechanisms, like variable annuities, can enhance product attractiveness and customer retention [7]. - Improving customer service and communication is essential for building trust and reducing the risk of policy lapses due to interest rate volatility [7]. Group 4: Investment Strategy Adaptation - Insurance companies need to reduce reliance on long-term fixed-income assets and explore alternative investments, such as infrastructure, real estate, and private equity, which are less correlated with interest rates [8]. - Focusing on high-dividend blue-chip stocks can provide stable returns and consistent dividend income in a fluctuating interest rate environment [8].