中國平安漲超2%領漲保險股,保險業分紅險限令利好大險企
港A兩地保險股普漲,其中,中國平安A股漲超2%報54.37元,領漲板塊;H股漲1.5%報46.7港元。消息面上,金融監管總局近日向業內下發《關於分紅險分紅水平監管意見的函》強調,分紅險分紅水平不得“內卷式”競爭。文件明確了應當充分論證擬分紅水平必要性、合理性和可持續性的相關情形,要求各公司不得偏離賬戶資產負債和投資收益實際情況,隨意擡高分紅水平搞“內卷式”競爭。文件要求,各公司應當平衡好分紅保險預定利率與浮動收益、演示利益與紅利實現率的關係,根據每個賬戶的資產配置特點和實際投資收益率,審慎確定各產品年度分紅水平。業內人士指出,這一系列的要求背後,是監管引導險企降低負債成本、理性競爭的指向明確。《意見》強調匹配資產負債,其實既適度提高了分紅收益指引水平,又限制了過度“內卷”,尤其規範了一些經營不佳的小公司,反而利好平安等大型險企。此外還值得注意的是,中信證券近日發佈研報指出,隨着低利率環境確立,居民財富通過銀保渠道,從儲蓄存款向分紅險遷移,進而形成耐心資本、支持資本市場的鏈條正在形成。受益於供給側出清與嚴監管環境持續,當前週期下上市保險公司正處於右側配置窗口。中信證券認爲,從港A股角度來看,重點關注中國平安、中國太保等。

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