I'm LongbridgeAI, I can summarize articles.Previously, insurance funds have increased their holdings in multiple bank stocks
After the New Year and facing challenges, insurance funds remain "infatuated" with bank stocks.
On the afternoon of January 15, Ping An Life Insurance Company of China, Ltd. (hereinafter referred to as "Ping An Life") announced the "Announcement on the Disclosure of Information Regarding the Entrusted Investment in the H Shares of Postal Savings Bank of China."
The announcement revealed that Ping An Asset Management Co., Ltd. (hereinafter referred to as "Ping An Asset Management"), entrusted with funds from Ping An Life, recently invested in the H shares of Postal Savings Bank of China.
The relevant investment will reach 5% of the H share capital of Postal Savings Bank of China on January 8, 2025. According to Hong Kong market rules, this triggers Ping An Life's "stake increase."
As of January 8, 2025, the book balance of Ping An Life's holdings in the H shares of Postal Savings Bank of China was CNY 4.19 billion, accounting for 0.09% of the total assets at the end of the previous quarter.
The relevant announcement also stated that as of the end of the third quarter of last year, Ping An Life's total assets reached CNY 48.3 trillion, with net assets of CNY 317.614 billion, and a comprehensive solvency adequacy ratio of 200.45%.
Over the past year, insurance companies, parent companies, and related insurance asset management institutions have repeatedly increased their stakes in bank stocks and cash-rich utility company stocks.
Just a month ago, Ping An Life increased its stake in the H shares of Industrial and Commercial Bank of China (reaching 15% of the H share capital on December 20, 2024, triggering the stake increase).
Earlier, Ping An also increased its stake in the H shares of China Construction Bank (on December 18, 2024, with a holding ratio reaching 5% of the H shares of China Construction Bank).
Great Wall Life Insurance also increased its stake in Wuxi Bank.
Given the advantages of the relevant companies, such as abundant cash flow and high dividend rates, the trend of insurance funds increasing their stakes in bank stocks is expected to continue