CITIC Securities: It is expected that the core periodical payments and value growth of listed insurance companies will maintain double-digit growth in 2026.

The research report of CITIC Securities-Tai expresses that the performance of the life insurance industry in the first quarter of 2026 is worth looking forward to. Benefiting from residents' asset allocation due to moving deposits, the growth of liabilities is expected to continue. The bull market in equities is expected to strengthen the sales logic of dividend insurance. The bank-insurance channel benefits from the continuous effective growth of cooperative branches and capacity improvement, and the momentum of new policy growth is expected to continue. The individual insurance channel benefits from the "dumbbell-type" team structure with high-quality human resources as the foundation. It is expected that the core period-paid and value growth of listed insurers in 2026 will maintain double-digit growth.