Mainland insurance stocks rose collectively. As of writing, CHINA TAIPING (00966) increased by 4.38% to HKD 25.76; CHINA LIFE (02628) rose 3.22% to HKD 34.58; PING AN (02318) climbed 2.45% to HKD 72.45; and CPIC (02601) gained 2.14% to HKD 39.18.

The rally was driven by the latest data from the National Financial Regulatory Administration, which showed that the insurance industry's original premium income in 2025 reached approximately 6.12 trillion yuan, representing a year-on-year increase of 7.43%.

Within this total, property insurance original premium income amounted to about 1.47 trillion yuan, while life insurance original premium income was approximately 4.65 trillion yuan.

By the end of 2025, the total assets of the insurance industry reached about 41.32 trillion yuan, marking a significant growth of 15.06% compared to the end of 2024.

CITIC Securities believes that the China Securities Regulatory Commission's plan to expand the types of strategic investors will significantly benefit insurance capital, as a major source of patient capital, leading to a win-win situation for the capital market, listed companies, and investors; the firm expects insurers to actively participate in strategic investments, creating a new, substantial category of stable return assets under the equity method.

The brokerage maintains its view that the insurance sector is in a period of major opportunity.

Dongwu Securities stated that it expects listed insurers to demonstrate strong performance in their 2026 "first red" period, noting that the ongoing trend of "deposit relocation" continues, with insurance products' predetermined interest rates still higher than bank deposits, maintaining a clear relative attractiveness; the firm holds an optimistic outlook for full-year new business premium growth and anticipates a further increase in the proportion of participating insurance within new business, which will benefit the continuous improvement of insurers' liability costs.