保险行业寿险保费增速放缓，权益资产配置提升

Investment Rating - The report maintains an "Overweight" rating for the insurance industry, suggesting a positive outlook for key companies such as China Life, New China Life, Ping An, China Pacific Insurance, and China People’s Insurance [6]. Core Insights - The life insurance sector is experiencing a slowdown in premium growth, with a reported decrease of 2% in premium income [2]. - The property insurance sector shows a more favorable trend, with premium income growth of 13.7% [2]. - The overall insurance market is benefiting from increased asset allocation towards equity assets, with a reported increase of 1% in asset allocation ratios [3]. - The total assets of the insurance industry reached approximately 28.9 trillion yuan, reflecting a growth of 4.3% [3]. Summary by Sections - Life Insurance: Premium income decreased by 2%, with total income reported at 33.64 billion yuan, indicating a challenging environment for life insurers [2]. - Property Insurance: The sector reported a premium income growth of 13.7%, with total income reaching 133.75 billion yuan, showcasing resilience in this segment [2]. - Asset Allocation: The report highlights a shift towards equity assets, with a net asset growth of 1.05 trillion yuan, indicating a strategic move by insurers to enhance returns [3]. - Market Outlook: The insurance industry is recommended for investment, with specific attention to leading companies that are expected to perform well in the current economic climate [6].