非银行业周报：政策打出组合拳，看好非银金融估值修复

Investment Ratings - The report assigns "Buy" ratings to China Pacific Insurance and "Increase" ratings to several companies including China Life, China Ping An, and Nanhua Futures [2]. Core Insights - The report highlights significant policy support for the insurance industry, including measures to enhance long-term investment by insurance funds, which is expected to improve investment performance as equity markets recover [4][5]. - The insurance sector has shown strong premium growth, with life insurance premiums increasing by 15.85% year-on-year, driven by a shift in interest rates and customer demand [23][26]. Summary by Sections 1. Index and Sector Performance - From September 23 to September 27, 2024, the CSI 300 index rose by 15.70%, while the securities sector increased by 25.60% and the insurance sector by 17.69% [11][6]. 2. Insurance Weekly Data Tracking - As of September 27, 2024, the 10-year government bond yield fluctuated between -4.80BP and +14.00BP, indicating a mixed trend in bond performance [12][13]. - The insurance industry’s total assets reached 34.13 trillion yuan by the end of August 2024, with life insurance companies holding 29.76 trillion yuan [21][22]. 3. Securities Weekly Data Tracking - The report notes a significant increase in trading activity, with average daily trading volume rising by 88.79% to 10,621.89 billion yuan during the week [28][29]. - Margin trading balances showed a slight increase, indicating a growing investor confidence in the market [32]. 4. Premium Income and Claims - The cumulative premium income for the insurance industry reached 43,783.65 billion yuan by the end of August 2024, reflecting a year-on-year increase of 13.04% [26]. - The report details that life insurance premiums accounted for 34,136.00 billion yuan, with health insurance premiums also showing positive growth [25][26].