Mainland insurance stocks experienced a collective decline in Hong Kong trading. As of press time, PICC Group (01339) fell 4.59% to HK$7.07, NCI (01336) dropped 4.48% to HK$48.62, CHINA LIFE (02628) decreased 3.48% to HK$26.04, and PICC P&C (02328) slid 3.05% to HK$18.42.

The latest data from the financial regulatory authority shows that by the end of Q3, the combined stock investment balance of life and property insurance companies reached 3.62 trillion yuan, with both scale and proportion increasing from Q2. Meanwhile, life insurers' bond allocation ratio declined quarter-over-quarter, and both life and property insurers reduced their bank deposit allocations in terms of size and proportion.

Liu Xinqi, chief non-bank financial analyst at Guotai Haitong Securities, noted that considering the Q3 performance of listed insurers and the current low-interest-rate environment coupled with narrowing credit spreads, insurers' net investment yields continue to show a downward trend. Moving forward, insurance companies urgently need to shift their asset allocation strategies from passive to active management. By flexibly capturing market opportunities and continuously optimizing asset allocation structures, they can achieve more stable investment returns.