Dongwu Securities released a research report saying that demand in the insurance market is still strong, the dividend insurance transformation will further promote the optimization of rigid debt costs, and the pressure on interest spreads and losses will ease somewhat. Recently, the yield on ten-year treasury bonds has stabilized at around 1.69%. The bank expects that in the future, along with the recovery of the domestic economy, if long-term interest rates continue to recover upward, the pressure on the return on new fixed income investments by insurance companies will ease somewhat. At the end of 2026Q2, the ratio of public equity holdings to insurance stocks fell to 0.42%, which is significantly lower. On August 31, 2026, the insurance sector valued 2026E 0.47-0.76 times PEV and 0.93-1.62 times PB, at an all-time low, and the industry maintained an “gain” rating.

Dongwu Securities released a research report saying that demand in the insurance market is still strong, the dividend insurance transformation will further promote the optimization of rigid debt costs, and the pressure on interest spreads and losses will ease somewhat. Recently, the yield on ten-year treasury bonds has stabilized at around 1.69%. The bank expects that in the future, along with the recovery of the domestic economy, if long-term interest rates continue to recover upward, the pressure on the return on new fixed income investments by insurance companies will ease somewhat. At the end of 2026Q2, the ratio of public equity holdings to insurance stocks fell to 0.42%, which is significantly lower. On August 31, 2026, the insurance sector valued 2026E 0.47-0.76 times PEV and 0.93-1.62 times PB, at an all-time low, and the industry maintained an “gain” rating.