银保协同

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年内险资26次举牌
财联社· 2025-08-14 05:53
天职国际会计师事务所的保险精算主管合伙人顾谦对财联社记者表示:"低利率、资产荒背景和负债端结构变化,让保险业资产负债匹配的 诉求愈发强烈,也在倒逼险资向权益市场迁徙,而上市银行以稳健的经营能力和突出的股息回报,成为保险资金配置的重要方向。此外,随 着银保渠道成为险企保费增长新引擎,一些公司也将战略重心押注银保,试图通过重仓银行股,强化股权投资合作重塑保险业务渠道格 局。" 民生人寿增持浙商银行,持股比例达5%触发举牌 港交所最新权益披露资料显示, 民生人寿8月11日增持100万股浙商银行H股股份后,于当日达到该行H股股本的5%,根据港股市场规则,触发举 牌。 民生人寿投资运营部相关人士对财联社记者表示:"为应对会计准则切换带来的波动,公司通过举牌等方式既有望获取长期投资收益,也有 望兼顾当期利润波动。" 浙商银行在回应财联社记者采访时则表示:"民生人寿现为浙商银行前十大股东,民生人寿大股东中国万向控股有限公司(以下简称"万向控 股")亦为浙商银行创始股东,长期以来支持并看好浙商银行发展。" 据财联社记者统计, 今年以来,平安人寿、新华保险、瑞众人寿等险企在A+H股频繁扫货银行股,加仓次数超过百次,11度触发举 ...
险资南下掘金!年内扎堆举牌港股,战绩不凡获15%超额回报
Hua Xia Shi Bao· 2025-07-07 13:29
Core Viewpoint - The insurance capital market is experiencing a significant wave of acquisitions, with insurance funds actively buying shares in listed companies, particularly in the banking and public utility sectors, as well as in leading cyclical industries like steel [2][3][4]. Group 1: Insurance Capital Trends - Insurance funds have made 19 acquisitions this year, nearly matching last year's total of 20 within just six months [2]. - A notable trend is the substantial movement of funds towards Hong Kong stocks, with 14 out of 19 acquisitions involving Hong Kong-listed companies [2][8]. - The average return on investment for insurance companies in the Hong Kong market is approximately 15%, indicating a strong performance compared to previous years [2][8]. Group 2: Investment Strategies - The acquisitions reflect a rebalancing of insurance assets and liabilities, emphasizing long-term value investment [2][5]. - Insurance companies are increasingly focusing on high-dividend, low-volatility stocks, particularly in the banking sector, which offers an average dividend yield exceeding 5% [6][7]. - The recent regulatory changes have allowed for more flexible equity asset allocation, potentially unlocking an additional 1.5 trillion yuan in investment capital [5]. Group 3: Sector Focus - The banking sector remains the primary focus for insurance fund acquisitions, with nine out of the 19 acquisitions involving banking stocks [6]. - Steel industry leaders like Hualing Steel are also attracting attention, indicating a tactical interest in undervalued cyclical stocks [7]. - The insurance funds are not entirely avoiding cyclical industries but are selectively investing in financially stable companies with strong cash flow and dividend capabilities [3][4]. Group 4: Market Dynamics - The Hong Kong market is becoming increasingly attractive due to its higher dividend yields and significant valuation discounts compared to A-shares [8]. - The ongoing release of institutional benefits in Hong Kong is expected to enhance its appeal to cross-border investments [8]. - Despite geopolitical tensions, the Hong Kong market has shown resilience, achieving a 20% increase in performance, making it a leading financial center [8].
举牌之后继续“买买买” 险资“扫货”银行股
Zheng Quan Ri Bao· 2025-06-12 16:38
Core Viewpoint - Insurance companies, particularly Ping An Life, are increasingly favoring bank stocks, as evidenced by significant share acquisitions in Agricultural Bank of China and other banks, driven by stable performance and high dividend yields in a declining interest rate environment [1][2][4]. Group 1: Shareholding Activities - Ping An Life has acquired approximately 635.34 million shares of Agricultural Bank of China H-shares, raising its total holdings to about 4.658 billion shares, which constitutes 15.15% of the total H-shares [1]. - Ping An Life has executed multiple share acquisitions in Agricultural Bank of China, with initial holdings of approximately 1.539 billion shares (5% stake) on February 17, and increasing to about 3.191 billion shares (10.38% stake) by May 12, followed by further increases to approximately 3.944 billion shares by June 6 [2]. - Similar activities were observed with China Merchants Bank, where Ping An Life increased its holdings from about 230 million shares (5.01% stake) on January 10 to approximately 647 million shares (14.08% stake) by June 4 [2]. Group 2: Industry Trends - The trend of insurance companies acquiring bank stocks is reflected in actions by other firms such as Xinhua Insurance, which has also engaged in share acquisitions of banks, including a significant stake in Hangzhou Bank [3]. - Factors driving this trend include the stable performance and high dividend yields of bank stocks, which are attractive in the current investment environment characterized by declining interest rates [4][5]. - The collaboration between banking and insurance sectors is seen as strategically beneficial, enhancing competitive advantages and risk management capabilities for insurance companies [4][6]. Group 3: Future Outlook - The banking sector is expected to remain a key focus for insurance capital, with the potential for increased equity investments as regulatory policies encourage long-term capital market participation [6]. - The high dividend yield of the banking sector positions it favorably compared to other industries, making it an attractive investment option for insurance companies [5][6].
险资再举牌银行H股的原因,影响几何?|资本市场
清华金融评论· 2025-02-28 10:40
Core Viewpoint - Ping An Life's stake in three major banks' H-shares is a necessary choice for insurance capital seeking stable returns amid an "asset shortage," responding to policy calls and enhancing competitiveness through bancassurance collaboration [1][8]. Group 1: Investment Actions - Ping An Life disclosed that it has reached a 5% stake in Agricultural Bank of China H-shares, marking the third major bank it has invested in since 2025 [2]. - As of now, Ping An Life's holdings in Agricultural Bank, Postal Savings Bank, and China Merchants Bank H-shares have all surpassed 5% [2]. - Following the purchase of 133 million Industrial and Commercial Bank of China H-shares, Ping An Group's stake rose to 18.08% [2]. Group 2: Significance of Insurance Capital's Stake - The investment optimizes asset allocation as current market interest rates are declining, making fixed-income assets less capable of covering insurance liabilities [4]. - Insurance capital can smooth financial statement volatility by classifying bank stocks under FVOCI, avoiding direct impacts of stock price fluctuations on current profits [4]. - The move aligns with regulatory encouragement for insurance capital to support the real economy, with bank stocks being a core economic sector [4]. Group 3: Reasons for Choosing Specific Banks - The selected banks offer high dividend yields and low valuations, with Agricultural Bank's H-share yield exceeding 9% and a price-to-book ratio below 1 [6]. - These banks exhibit strong operational stability, with controllable non-performing loan ratios and growth in revenue and net profit as of 2024 [6]. - H-shares provide liquidity advantages, influenced by international capital flows and favorable valuations in the Hong Kong market [6]. Group 4: Impact on Capital Markets - The entry of insurance capital boosts market confidence, signaling positive trends and potentially driving bank stock valuation recovery [7]. - This investment encourages a long-term investment philosophy, shifting market focus from short-term speculation to value investing [7].