Core Viewpoint - The recent increase in shareholding by Ping An Group and Ping An Asset Management in China Life Insurance (H) has triggered a market response, indicating a positive outlook for the insurance sector, particularly in the context of long-term investment potential [1][2]. Group 1: Shareholding Increase - Ping An Group and Ping An Asset Management increased their holdings in China Life Insurance (H) by 9.5 million and 9 million shares, respectively, raising their ownership stakes from 4.91% and 4.88% to 5.04% and 5.0%, which triggered a "shareholding increase" event [1]. - The market reacted positively, with the CSI 800 Insurance Index rising by 5.96% from August 11 to August 19, significantly outperforming the Shanghai Composite Index's 2.54% increase during the same period [1]. Group 2: Fund Performance - Currently, only funds under Penghua Fund track the CSI 800 Insurance Index, including the Insurance Securities ETF (515630) and the Penghua CSI 800 Insurance Fund, with the ETF showing a remarkable one-year net value growth rate of 54.03% as of August 19 [2]. - Fund manager Yu Zhanchang emphasizes five key reasons for optimism regarding insurance stocks, including improved solvency, higher policy yields compared to deposit rates, better liability costs due to declining interest rates, strong returns on equity assets, and attractive valuations with a price-to-book ratio of 1.2 and price-to-earnings ratio of 0.6 [2]. Group 3: Long-term Bullish Outlook - Yu Zhanchang predicts a clear long-term bullish trend for the insurance sector, driven by improved asset-liability matching and the influx of new capital, particularly from leading insurance companies that attract long-term investors [3]. - The insurance sector's configuration coefficient of 0.51 indicates it is still underweighted, suggesting potential for investment returns to exceed the assumed 4%, with ample room for price appreciation without requiring discounts [3].