惠譽:內地壽險行業明年回升 惟料險企利潤率受壓
惠譽發表報告指,中國壽險行業明年將自今年低基數回升,主要受惠於年長人口比例提升,及市場對保障性產品的需求增加,新型肺炎疫情及新監管政策亦提升市場對長期健康保險產品及服務的需求。
報告指,行業轉向長期保險產品、期繳,及利潤率差距較大,及較具保障成份的產品,對大型保險企業有利,惟利潤率仍將受低國債利率拖累投資收益所影響。
另外壽險公司償付率然穩健,在政策要求下有足夠緩衝,惟在投資風險提升的情況下或會有所下降。中銀保監放寬股票類投資上限,加上低息率長期維持,亦將增加險企投資於股票市場的意慾。
該行對中國壽險行業前景「穩定」,對險企評級展望「負面」,指資本場波動、低息環境,及潛在撥備虧損將令險企利潤收窄。
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