The Advancing Insurance: Not Just a Transaction "New Year Opening", Long-term Bonds at 2% Threshold and Returning to 1x P/EV
On January 5, 2026, the insurance sector surged over 6%, with NCI and CPIC reaching all-time highs. Analysts believe that the insurance sector has experienced a cyclical logic of "improved expectations for the New Year - long-term interest rates rebounding - index rally strengthening profit elasticity." It is expected that the new business growth rate of listed insurance companies in the first quarter of 2026 will be 30%, with the growth rates for bancassurance and individual insurance at 50% and 20%, respectively. Attention should be paid to signals of long-term interest rates breaking through 2.0%, as there are divergences in the market regarding the trend of ten-year government bond yields
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