The financial institutions' liabilities at the end of the second quarter increased by 6.9% annually, while insurance companies' liabilities increased by 16.5%.
According to preliminary statistics from the People's Bank of China, as of the end of the second quarter of 2024, the total assets of China mainland financial institutions were 480.64 trillion yuan (same below), a year-on-year increase of 7%. Among them, the total assets of banks were 433.1 trillion yuan, a year-on-year increase of 6.6%; the total assets of securities institutions were 13.75 trillion yuan, a year-on-year decrease of 0.1%; and the total assets of insurance institutions were 33.8 trillion yuan, a year-on-year increase of 15.7%. During the same period, the total liabilities of China mainland financial institutions were 438.68 trillion yuan, a year-on-year increase of 6.9%, with the total liabilities of banks amounting to 397.66 trillion yuan,
Express News | Within five years, central enterprises will fully establish a "scientific, rational, and efficient" board of directors.
Express News | Hong Kong insurance stocks continued to rise in the afternoon, with Ping An Insurance rising more than 5%, China Pacific Insurance rising nearly 4%, PICC Group, China Taiping, New China Life Insurance, and China Life Insurance all rising more than 3%.
Hong Kong stocks are on the move again, with mainland insurance companies rising. In the first half of the year, the net profit of many insurance companies has exceeded 90% of that in 23 years. Institutions continue to be bullish on the industry, with pre
Mainland insurance companies rose again. As of press time, Ping An Insurance (02318) rose 3.78% to HKD 37.10; China Taiping (00966) rose 3.73% to HKD 9.74; China Pacific Insurance (02601) rose 3.44% to HKD 21.05; New China Life Insurance (01336) rose 3.24% to HKD 16.58.
The bond bull market with dividend overlay, the insurance industry's "investment side" finally sees a warming trend.
Only in the first half of 2024, five mainland insurance companies listed on the Hong Kong stock market have already exceeded 90% of last year's annual net profit attributable to shareholders.
Loeb & Loeb has been terminated by at least 60 companies in the past six months.
According to the internal media report, between March 18th and September 13th, PwC (commonly known as PricewaterhouseCoopers) has been terminated by at least 60 companies due to the Evergrande auditing controversy. Among them, there are 36 A-share listed companies, 7 HK-listed companies, 16 fund companies, and 1 non-listed company. Ernst & Young has taken over 15 PwC clients, including China Cinda (01359.HK), Cosmo Lady (02298.HK), Tong Ren Tang Technology (01666.HK), and Tong Ren Tang Chinese Medicines (03613.HK). Clients such as China Taiping (00966.HK) have been taken over by KPMG.
The third "国十条" of the insurance industry has activated the trillion-dollar retirement financial market. The direction of the development of the three-pillar retirement insurance has been determined!
① Vigorously develop commercial insurance annuities to meet the diversified retirement protection and long-term financial planning needs of the public; ② Encourage the development of new products and exclusive products that adapt to the individual pension system; ③ Support pension insurance companies in conducting commercial pension business and promote the development of exclusive commercial retirement insurance.
Express News | The State Council issued the "Opinions on Strengthening Supervision, Preventing Risks, and Promoting the High-Quality Development of the Insurance Industry."
China Taiping (00966.HK): Significant improvement in performance on the liability side, excellent performance on the investment side.
In the first half of 2024, the net income attributable to the parent company increased by 15.4% to HK$6.027 billion. 1) Life insurance: The NBV in the first half of 2024 was HK$7.335 billion, an increase of 85.5% year-on-year, with individual insurance NBV increasing by 5% year-on-year.
The Hang Seng Index fell 247 points, with property and commodity stocks leading the decline. Nio Inc. rose 13%.
Market concerns about the economic outlook of China and the usa, with the usa adding 0.142 million non-farm jobs in August, falling short of expectations, and China's CPI rising 0.6% year-on-year in August, lower than expected, while PPI fell 1.8% year-on-year, exceeding expectations. The Hang Seng Index (9th) fell. The Hang Seng Index opened low by 182 points and the decline expanded. In the afternoon, it fell by 376 points to 17,067 points, down 247 points or 1.4% for the whole day, closing at 17,196 points; the National Index fell by 102 points or 1.7%, closing at 6,002 points; the Hang Seng Tech Index fell by 51 points or 1.5%, closing at 3,436 points. The Hang Seng Index series quarterly review and weight adjustment take effect today, with the full-day market turnover.
Head insurance asset management profit remained stable with slight increase in the first half of the year, but the industry is generally concerned about increased pressure in the second half of the year. "Stocks and bonds both face challenges."
① According to multiple insiders in the insurance asset management industry, the investment performance of various institutions in the bond market improved in the first half of the year. However, the subsequent challenges of the stock and bond markets will test the investment capabilities of these institutions. ② Some industry experts pointed out that currently, it is difficult to invest in non-standard (products). The latest data shows that the business of innovative products in insurance asset management contracted in the first half of the year, and the issuance of non-standard bond rights is still in a downward trend.
China Merchants Securities: High dividend stocks are expected to continue to be a key direction for increases in risky assets allocation.
China Merchants released research reports stating that the investment assets of listed insurance companies account for a large proportion of the industry, with a steady and healthy growth in scale in the first half of 2024, maintaining a balanced and stable allocation structure, and a significant improvement in the total investment yield.
China Taiping (0966.HK): The NBV and NBVM of life insurance increased significantly year-on-year, and the net income was driven by investment income.
[News] China Taiping released its 2024 interim performance: 1) Net income attributable to the parent company was HK$6.03 billion, a year-on-year increase of +15.4%; Among them, life insurance/domestic property insurance/overseas property insurance/reinsurance/asset management increased by +4.
Hong Kong stock market anomaly: China Taiping (00966) rose by more than 3% again. The company's capital and debt ends significantly exceeded expectations. The growth of new business value may lead the market.
China Taiping (00966) rose by over 3%. As of the time of this report, it has increased by 2.57% to HKD 10.38, with a turnover of 37.6535 million Hong Kong dollars.
Express News | China Electronics and China Taiping have signed a strategic cooperation agreement.
The hottest insurance stock in the Hong Kong stock market has soared 70% this year! The sector is regaining momentum, could it shake off the bearish reputation?
So far this year, in the relatively flat market in Hong Kong, insurance stocks can be said to have "stood out". In terms of annual growth rate, China reinsurance rose by over 70%, China Taiping rose by over 50%, picc group and China pacific insurance also rose by over 30%.
A quick look | Hong Kong stock bull bear stock list for August released! Q2 performance impressive, GDS Holdings soared 56% within the month; Insurance stocks rallied strongly, China Re surged nearly 34%.
It is widely believed that the expected interest rate cut by the Federal Reserve in September has had a positive impact on the Hong Kong stock market. According to the latest market data, the Hang Seng Index has shown significant signs of rebound recently, indicating the market's volatility and gradual recovery of investor confidence.
Express News | State Council: Several Opinions on Promoting the High-Quality Development of the Insurance Industry.
Large bank rating 丨 Bocom Intl: Raised target price of China Taiping to HKD 11.6, improvement in profitability of major businesses
Guolonghui, August 30th | Bocom Intl's research report stated that China Taiping (0966.HK) had a 15.4% year-on-year increase in attributable net profit in the first half of the year, and the profit performance of its major businesses had all improved. In the second half of this year and next year, the company will increase the sales of dividend insurance policies. The bank expects that the group's new business value will increase by 50% year-on-year. The bank stated that due to the low base in the second half of 2023, it is expected that the profit will increase by more than 40% year-on-year this year, maintaining a “buy” rating and raising the target price to 11.6 Hong Kong dollars.
Hong Kong stocks welcome a counter-attack! The Hang Seng Index has broken through the 18,000-point mark. Which industries are expected to benefit from the expectations of interest rate cuts?
Benefiting from the decline in US bond interest rates, the Hong Kong stock industry with high elasticity mainly includes news technology, medical, essential consumer, and industrial sectors.
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