Xin Lang Cai Jing·2026-01-21 09:14Core Insights - The insurance sector has seen a significant surge in new business through the bancassurance channel, with nearly 40 life insurance companies reporting a total new business scale exceeding 71.1 billion yuan, marking a substantial year-on-year increase [1][5] - The driving force behind this growth is attributed to the ongoing low interest rate environment, which has diminished the attractiveness of traditional deposits, prompting funds to seek alternative investment channels [6][8] Group 1: Market Dynamics - The bancassurance channel has successfully captured a large volume of funds that are looking for new outlets due to the declining interest rates, with the one-year and above fixed deposit maturity amount reaching 50 trillion yuan in 2026 [2][6] - The appeal of bancassurance products has been amplified in the context of low deposit rates, with standard products offering a maximum guaranteed interest rate of 2.0% and participating products providing a minimum return of 1.75% plus floating dividends [2][6] Group 2: Policy and Structural Changes - Recent policy adjustments, including the integration of insurance and banking services, have facilitated the growth of the bancassurance channel, allowing it to surpass individual insurance as the leading distribution channel in the first half of 2025 [3][7] - The growth in bancassurance premiums has translated into increased commission earnings for customer managers, enhancing customer retention and providing banks with a stable source of funds [7][8] Group 3: Future Outlook - The bancassurance channel's performance in 2026 is expected to be a result of both the low interest rate environment and the structural changes within the banking sector, with projections indicating that new business premium growth for listed insurance companies through this channel could exceed 30% [4][8]