● 本报记者 陈露 "最近几天我一直在忙着拜访客户，处理客户咨询、投保等事宜。今天上午我约了客户，给他们讲解保 险产品，下午还要为几位客户办理投保。"保险经纪人李先生8月26日告诉中国证券报记者。 与李先生情况类似，近期不少保险销售人员都处于忙碌状态。根据人身险产品预定利率与市场利率挂钩 及动态调整机制，9月起，人身险产品预定利率将下调。利用预定利率下调前的窗口期，不少保险代理 人开足马力冲业绩。 记者调研了解到，当前各家险企加快新老产品切换。业内人士表示，预定利率下调或影响保险产品价 格。消费者应根据自身风险承受能力、财务规划和保障需求等，合理购买保险产品。 产品切换进行时 "保险产品预定利率下调倒计时""目前的保险产品收益率较高，现在投保能终身锁定这一利率水平，是 一个不错的配置窗口期"……近日，不少保险销售人员在微信朋友圈等社交平台发布人身险产品预定利 率即将下调的信息。 根据人身险产品预定利率与市场利率挂钩及动态调整机制，9月起，人身险产品预定利率将下调。当前 距离预定利率下调还剩不到一周时间，记者调研了解到，不少险企正在进行新老产品切换，不同险企的 老产品停售节奏略有不同。 李先生告诉记者，部分险企 ...

Group 1 - The insurance industry is experiencing a wave of product discontinuations, with multiple companies ceasing sales of various life insurance products by August 31 [1][3][4] - A significant adjustment in the predetermined interest rates for life insurance products is set to take place, with the current research value at 1.99%, triggering a dynamic adjustment mechanism [5] - Major insurance companies, including China Life and Ping An Life, will adjust the maximum predetermined interest rates for new insurance products, impacting traditional and dividend insurance products [5][8] Group 2 - Following the interest rate adjustments, premium prices for insurance products are expected to rise, with estimated increases for various types of insurance, such as 18.9% for annuity insurance and 20.8% for whole life insurance [5] - Dividend insurance products are anticipated to become the main focus for insurance companies, as they offer a combination of guaranteed and floating returns, making them more competitive in the current market [7][8] - Companies are shifting their product strategies towards floating and protection-oriented products, with some already completing the filing of lower predetermined interest rate versions of their main products [8]

Regulatory Developments - The Financial Regulatory Bureau issued a draft management method for information disclosure of asset management products, aiming to enhance transparency throughout the product lifecycle, ensuring clear understanding of sales, risks, and returns [1] Insurance Industry Trends - The expected reduction in the predetermined interest rate for life insurance may occur as early as the third quarter, following recent decreases in the loan market quotation rate (LPR) and bank deposit rates [2] - The third batch of long-term investment pilot institutions for insurance funds is being approved, including several small and medium-sized insurance companies, marking a new breakthrough in the number and type of participating institutions [3] Investment Activities - Insurance funds accelerated their equity market investments in Q1 2025, increasing stock investments by approximately 390 billion yuan, the largest quarterly increase in recent years, with a stock holding ratio rising to 8.37% [4] - A new equity investment fund, the Ping An Silver Age Equity Investment Fund, was established in Beijing with a capital contribution of 6 billion yuan, focusing on private equity investments and asset management [7] Corporate Actions - Ancheng Insurance announced the unconditional transfer of 18.77% of its shares to Chongqing Development Investment Co., Ltd., with the process of notifying shareholders completed [6] - Ping An Life appointed Shi Weiyu as the new general manager, aiming to enhance corporate governance and drive high-quality development, with the life and health insurance business showing a 5% increase in operating profit year-on-year and a 34.9% increase in new business value [8] Executive Changes - Sheneng Property Insurance has approved two new vice presidents, completing its core management structure with one general manager and four vice presidents, achieving nearly 100 million yuan in net profit in Q1 [9]

Core Viewpoint - The insurance industry is anticipating a reduction in the predetermined interest rate for life insurance products due to recent decreases in the Loan Prime Rate (LPR) and bank deposit rates, with expectations for adjustments to occur as early as the third quarter of this year [1][3][4]. Group 1: Interest Rate Adjustments - The People's Bank of China announced a 10 basis point reduction in the LPR, with the one-year LPR decreasing from 3.1% to 3% and the five-year LPR from 3.6% to 3.5%, marking the first decline since October of the previous year [3]. - The current upper limit for the predetermined interest rate of ordinary life insurance products is 2.5%, which is over 25 basis points higher than the previously published research value of 2.13% [4]. - It is widely predicted that the research value for the predetermined interest rate will likely fall below 2.25% in July, indicating that a reduction is imminent [4]. Group 2: Market Reactions and Trends - The enthusiasm for "炒停售" (the practice of urging customers to purchase insurance products before a rate drop) has diminished significantly, with fewer agents actively promoting this strategy compared to previous years [5][6]. - Consumers have become more discerning and less reactive to marketing tactics related to "炒停售," as they are now better informed about the underlying reasons for interest rate changes [7]. - Regulatory measures are in place to curb "炒停售" practices, ensuring that insurance companies maintain orderly product development and management during interest rate adjustments [7]. Group 3: Implications for the Insurance Industry - The reduction in predetermined interest rates is seen as a double-edged sword; while it lowers liability costs for insurance companies, it also diminishes the market competitiveness of savings-type insurance products [8]. - The decline in "炒停售" behavior is viewed positively, as it may lead to more sustainable development in the insurance sector and a return to rational competition [8]. - Insurance companies are encouraged to adapt their product strategies to align with changing market demands, focusing on differentiated products that emphasize protection features rather than solely competing on guaranteed returns [8].