Insurance sector surged 7%, China Life recorded its first listing of the year
Industry: Insurance industry boom is expected to pick up
On June 15, the insurance sector strengthened.
As of the close of the day, the insurance sector rose 7.71%.
Tianmao Group and China Life's daily limit, and most insurance stocks rose by more than 5%.
Among them, New China Insurance, China Pacific Insurance, PICC, and China Ping An rose 8.11%, 7.29%, 5.51%, and 5.37% respectively.
The reporter noticed that in recent months, listed insurance companies have frequently repurchased their shares, and shareholders and executives have actively increased their holdings.
The industry believes that as the epidemic gradually subsides, the advantage of a low base in life insurance is expected to emerge, and the industry is expected to usher in a short-term inflection point; the recovery of the automotive industry chain will gradually reduce the short-term pressure on property insurance, and the industry's prosperity is expected to pick up.
Text, watch/Zhao Fangyuan, all media reporter of Guangzhou Daily
China Life recorded the first listing of the year, and invested 20 billion yuan in a Yunnan provincial enterprise
Shortly after the market opened on June 15, China Life Insurance (601628.SH) reached the daily limit; then the daily limit was opened, and the daily limit was again soon after.
As of the close of the day, China Life closed at 28.85 yuan per share, an increase of 9.99%, with a total market value of 815.4 billion yuan.
This is also the first time China Life has recorded a daily limit this year.
China Life Hong Kong shares (02628.HK) closed at HK$12.640 per share, an increase of 5.33%.
On June 14, the official WeChat account of China Life Group issued a document saying that in order to help Yunnan build a new development pattern in the process of developing the western region in the new era, China Life signed a cooperation agreement with the Yunnan Provincial Government.
China Life initiated the establishment of the "China Life-Yunnan State-owned Enterprise Reform and Development Equity Investment Plan (Phase 1)" (the "Equity Plan") with a total scale of 20 billion yuan, and invested in Yunnan Provincial State-owned Equity Operation and Management Co., Ltd. controlled by Yunnan Provincial Investment Holding Group Co., Ltd. The company (“Yunnan Equity Operating Company”) made a strategic capital increase.
On June 13 this year, the first 9 billion yuan of funds of the equity plan was completed to support the Yunnan Equity Operating Company's investment in the equity of Yunnan Central Yunnan Water Diversion Engineering Co., Ltd.
It is understood that the equity plan is fully funded by the life insurance company of China Life Group and implemented by the asset management company.
According to the announcement issued by Yunnan Baiyao, after the capital increase, the equity structure of Yunnan Equity Operating Company will be changed from 100% holding by the controlling shareholder Yuntou Group to 75.21% and 24.79% held by Yuntou Group and China Life respectively.
The actual controller of Yunnan Equity Operating Company is still the Yunnan SASAC, which will not change.
The industry believes that life insurance companies provide a longer-term and stable source of funds for the capital market because of the long-term and stable characteristics of their business operations.
The five major listed insurance companies have collected 1.35 trillion yuan in premiums in the first five months, and the growth rate of property insurance premiums is basically stable
As of June 15, the five A-share listed insurance companies including China Life, China Ping An, and PICC have all released their premium income in the first five months of this year, with a total premium income of about 1.35 trillion yuan, a year-on-year increase of 3.76% .
In the first five months of this year, PICC obtained a premium income of 317.983 billion yuan, an increase of 12.86% year-on-year; China Pacific Insurance obtained a premium income of 201.424 billion yuan, an increase of 6.7% year-on-year; New China Insurance obtained a premium income of 86.779 billion yuan, an increase of 4.97% year-on-year; Ping An of China The premium income achieved was 364.22 billion yuan, a year-on-year increase of 0.9%; the premium income of China Life was 379.2 billion yuan, a year-on-year decrease of 1.86%.
Some institutional analysis said that the recovery of new car sales has brought about an improvement in auto insurance premiums, and the growth rate of property insurance premiums of listed insurance companies is basically stable.
Listed insurance companies intensively repurchase "self-rescue", industry: the valuation of major insurance companies is at a low level
Shares in the insurance sector have underperformed this year.
Since May, China Ping An, AIA, China Pacific Insurance and many other insurance companies have carried out "self-rescue" through stock repurchase, and shareholders and executives have also actively increased their holdings to convey confidence to the market.
The analysis of Western Securities believes that with the gradual subsidence of the epidemic, the advantage of a low base in life insurance is expected to emerge, and the industry is expected to usher in a short-term turning point; at the same time, some insurance companies have launched plans to increase staff members to form a certain support for the agent team.
With the recovery of the automobile industry chain, the short-term pressure brought by the epidemic on property insurance has gradually eased, and the industry's prosperity is expected to pick up.
CITIC Construction Investment pointed out that the current critical illness insurance sales still need to recover, but the channel reform of listed insurance companies has been more than 2 years, and the estimated manpower structure has been optimized.
The current valuation of major insurance companies PEV is at a low level.