智通财经APP获悉，内险股继续走高，截至发稿，中国人寿(02628)涨4.03%，报27.38港元；中国人保(01339)涨1.62%，报5.63港元；新华保险(01336)涨1.48%，报47.86港元；中国太保(02601)涨1.01%，报34.04港元。
消息面上，近期，上市险企陆续披露2025年年报。国信证券统计数据显示，受益于投资端弹性释放及负债端结构的持续优化，头部5家上市险企累计实现营业收入29281.29亿元，在高基数基础上同比提升7.8%；合计实现归母净利润4252.91亿元，同比增长22.4%。
华创证券指出，近期受地缘政治影响，大盘调整，传导至投资端，保险板块亦有回调。当前多数险企估值位于十年50%分位之下，底部价值已现。短期来看，26Q1业绩受资本市场波动影响预计有所承压；中长期来看，监管与行业多管齐下，行业负债成本逐步优化，头部“利差损”风险预计基本出清，PEV估值有望向1x修复。
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