非银行业周报：权益市场热度延续，政策及市场表现利好非银

Investment Rating - The report assigns a "Buy" rating to China Pacific Insurance and "Hold" ratings to China Ping An, New China Life, China Life, Jiangsu Jinzu, Dongfang Caifu, CITIC Securities, Ruida Futures, Zheshang Securities, and Guolian Securities [1]. Core Viewpoints - The insurance sector has shown a significant recovery, with China Life's market share in the new energy vehicle insurance sector increasing to 35.45% in the first nine months of 2024, reflecting a year-on-year growth of 1.49 percentage points [4]. - The report highlights the positive impact of favorable fiscal policies on the insurance and securities markets, with the insurance II index rising by 6.67% and the securities II index increasing by 15.04% [3][12]. - The report emphasizes the importance of regulatory support for the capital market, which has led to improved market sentiment and increased trading volumes, benefiting brokerage firms [2][30]. Summary by Sections 1. Index and Sector Performance - The Shanghai Composite Index increased by 5.50% during the week, while the securities II index rose by 15.04%, outperforming the Shanghai and Shenzhen 300 index by 9.53 percentage points [12]. 2. Insurance Weekly Data Tracking - The 10-year government bond yield decreased by 4.10 basis points to 2.10%, indicating a favorable environment for the insurance sector [13][14]. - The report notes that the life insurance sector maintained positive growth, while the property insurance sector experienced a slight decline in growth rates [22][23]. 3. Brokerage Weekly Data Tracking - The average daily trading volume in the stock market increased by 14.86% to 2.40 trillion yuan, reflecting a recovery in market activity [30]. 4. Key Company Announcements & Industry News - China Pacific Insurance is focusing on enhancing its capabilities in the new energy vehicle insurance market, aiming to provide comprehensive risk protection and improve its competitive edge [4]. - The establishment of new insurance companies, such as the approval for Beijing Law Firm to set up a new property insurance company, indicates ongoing growth in the insurance sector [5].