人身险:负债经营边际改善,资产端重要性进一步提升。负债端延续增长,负债成本改善:预计2026年银保新单及价值率改善推动NBV延续增长;预定利率调整、分红险占比提升以及全渠道报行合一的实施将推动行业负债成本的下移。我们预计上市公司NBV增速仍有望实现20%以上增速。主动管理能力需求提升,投资端预计将呈现两大变化:在净投资收益率依然承压背景下,预计保险公司会进一步强化主动管理能力,权益多元化配置、利率...
Source Link人身险:负债经营边际改善,资产端重要性进一步提升。负债端延续增长,负债成本改善:预计2026年银保新单及价值率改善推动NBV延续增长;预定利率调整、分红险占比提升以及全渠道报行合一的实施将推动行业负债成本的下移。我们预计上市公司NBV增速仍有望实现20%以上增速。主动管理能力需求提升,投资端预计将呈现两大变化:在净投资收益率依然承压背景下,预计保险公司会进一步强化主动管理能力,权益多元化配置、利率...
Source LinkDisclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.