Expert: Lowering the risk factors of insurance companies' positions will leverage 108.6 billion yuan of incremental funds.

Gu Yuxiang, Chief Analyst of Zhongtai Securities Non-Bank Financial, analyzed to reporters that by the end of the third quarter of 2025, the end-of-period balance of insurance funds invested in stocks would be 3.62 trillion yuan. Assuming that the proportions of investment in the Shanghai and Shenzhen 300 Index, the CSI Red and Blue Chips Low Volatility 100, and Sci-Tech Innovation Board stocks are 40%, 5%, and 20% respectively, as required by the "Notice". Based on this calculation, the minimum capital statically released before considering risk diversification effects is 32.6 billion yuan. If this portion of funds is fully allocated to Shanghai and Shenzhen 300 stocks, the corresponding market funds would be 108.6 billion yuan. If not allocated to stocks, the improvement in industry solvency ratio would be approximately 1 percentage point. In addition, the "Notice" also reduced the premium risk factor for insurance companies exporting credit insurance business and China Export & Credit Insurance Corporation's overseas investment insurance business from 0.467 to 0.42, and the reserve risk factor from 0.605 to 0.545. Longe believes that this will encourage insurance companies to increase support for foreign trade enterprises and effectively serve national strategies.