China Merchants Securities released a research report saying that the China Financial Supervisory Administration announced the operating conditions of the insurance industry from January to September 2026. The cumulative growth rate of personal insurance companies' premiums corrected slightly and rebounded markedly in September; property insurance companies' monthly premiums increased slightly negatively, and car insurance and non-car insurance both declined sequentially. Maintain industry recommendation ratings. The insurance industry is expected to focus on preparing for a good start in 2027 in the fourth quarter. Individual companies may return to the end. Listed insurers' product strategies will continue to focus on dividend insurance. Against the backdrop of low interest rates and increased capital market volatility, the yield and cross-cycle investment advantages of floating income products are still prominent.

China Merchants Securities released a research report saying that the China Financial Supervisory Administration announced the operating conditions of the insurance industry from January to September 2026. The cumulative growth rate of personal insurance companies' premiums corrected slightly and rebounded markedly in September; property insurance companies' monthly premiums increased slightly negatively, and car insurance and non-car insurance both declined sequentially. Maintain industry recommendation ratings. The insurance industry is expected to focus on preparing for a good start in 2027 in the fourth quarter. Individual companies may return to the end. Listed insurers' product strategies will continue to focus on dividend insurance. Against the backdrop of low interest rates and increased capital market volatility, the yield and cross-cycle investment advantages of floating income products are still prominent.