Core Viewpoint - The universal insurance market, once thriving and reaching a scale of over one trillion, is now experiencing a decline due to regulatory tightening and a shift in focus towards long-term protection products [1][9]. Group 1: Market Trends - Universal insurance premiums for 2024 are projected to be 578.7 billion yuan, reflecting a year-on-year decrease of approximately 3% [1]. - The peak of universal insurance premiums occurred in 2016, reaching 1.2 trillion yuan, following a significant growth period from 2015 [2][4]. - The average settlement interest rate for universal insurance products has dropped to 2.86% by the end of 2024, down 54 basis points from the previous year [8]. Group 2: Regulatory Changes - New regulations prohibit the development of universal insurance products with a term of less than five years, aiming to promote long-term insurance solutions [6][10]. - The minimum guaranteed interest rate for universal insurance has been reduced to 1.5% starting from October 2024, with a dynamic adjustment mechanism linked to market interest rates [8][10]. - The new regulations require insurance companies to base policy benefits on actual investment returns, preventing the inflation of account investment yields [14]. Group 3: Product Characteristics - Universal insurance products have historically been attractive due to their high yields, with some offering rates as high as 6% to 7% during peak periods [2][4]. - The shift in focus from high-yield, short-term products to long-term protection is expected to reshape the market landscape [9][15]. - The introduction of a special reserve mechanism aims to smooth out investment yield fluctuations, similar to dividend insurance [15]. Group 4: Industry Implications - The tightening of regulations and the shift in product focus may lead to a contraction in the overall premium scale of the universal insurance market, which has remained below 600 billion yuan in recent years [15]. - Smaller insurance companies may face increased operational costs due to compliance with new regulations, potentially leading to a reduction in their universal insurance offerings [14].

文 | 银行螺丝钉 （转载请注明出处） ·37%的投资者,持有不到90天卖出,平 均收益3%。 ·能坚持持有5年以上的，只有0.4%。 0.4%是什么概念呢? 举个例子,高三考生考大学,在山东能考 上985的，占当年所有考生的1.4%。 而坚持持有基金5年的投资者只有0.4%。 比一个学生考上985，还要难3倍以上。 那怎么才能坚持下来呢?这里也介绍3个 方法。 (1) 用长期不用的闲钱投资 投资者中途放弃的一个很重要的原因,是 「短钱长投」。原本没打算做长期投资, 把几个月就要用的钱投入了。 市场短期的涨跌无法预测。每次市场在低 迷阶段，持续的时间长度也是不同的。 这也是为什么一直建议大家，用3-5年以 上长期不用的闲钱投资。这样中间遇到大 涨大跌，才更容易拿得住。 (2) 分散配置 如果投资者单个品种过于重仓，可能就会 比较难受了。甚至会有不少投资者会倒在 上涨到来之前。 所以，投资的时候,做好分散配置,是减 少波动风险的好方法。 (3) 在低估区域投资 字 。 ▼点击阅读原 文，免费学习大额家庭资产配置课程 股票资产中,单个股票,波动比单个行业 大很多；单个行业的波动，比分散配置的 一个组合的波动大很多 ...