Group 1 - The core viewpoint of the news is that the insurance sector in Hong Kong experienced a significant rally, driven by a reduction in the risk factor for insurance companies investing in stocks, which is expected to enhance capital efficiency and support long-term value investment [1] - As of the report, major insurance stocks such as China Life, China Pacific Insurance, China Ping An, and China Property & Casualty Insurance saw notable increases in their share prices, indicating positive market sentiment [1] - The adjustment by the financial regulatory authority is anticipated to alleviate capital occupation pressure for insurance companies, thereby optimizing the asset-liability matching structure within the industry [1] Group 2 - The insurance industry is expected to benefit from the trend of bank deposits moving towards insurance products, with diverse demands in areas such as retirement, healthcare, and savings likely to drive industry expansion [2] - Short-term developments indicate that insurance companies are progressing well with their new year product offerings, which may enhance their liabilities performance in 2026 [2] - The reduction in the scheduled interest rates for insurance products is expected to significantly mitigate the risk of interest spread losses, while the integration of insurance and banking services is likely to promote industry consolidation and improve the concentration of leading companies [2]