保险行业:估值驱动主要来自资产端

湘财证券
Yesterday

投资建议险企长期股票投资试点扩容,叠加资本市场维稳政策支持,权益投资占比提升增厚长期资产投资收益率,保险公司资产端收益预期有望继续改善,加强资负两端收益匹配。此外,险企通过配置超长期债券拉长资产久期,缓解资产负债久期错配压力,减少利差损风险。三季度预定利率将面临动态调整,险企负债成本压力有望得以缓解,增强保单销售动力,有望推动寿险新业务价值增长。资产负债两端匹配度优化,资产端收益弹性加强,有望促进...

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