【国泰海通非银刘欣琦团队】资负匹配定保险股“真实价值”——保险行业2025年中期投资策略

欣琦看金融
Jun 01, 2025

资负匹配定保险股“真实价值”保险行业2025年中期投资策略本报告导读人身险预计负债端NBV平稳增长,资产端提升权益配置;财产险盈利稳定特征仍将延续;低利率环境下,资负匹配仍待改善;推荐投资端弹性更大的纯寿险公司,以及高股息的头部财险公司。摘要人身险:预计负债端NBV平稳增长,资产端提升权益配置。1)预计25年个银渠道新单增长分化,价值率延续提升,NBV平稳;负债成本仍在改善过程中。2)中长期资金...

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