From "snatching licenses" to "looking at profits", the valuation of insurance companies' equity returns to rationality.

Recently, the auction results of the equity of two insurance companies have attracted industry attention. Among them, two equity stakes of Ancheng Property Insurance Co., Ltd. ended in the fifth auction on the Alibaba Asset platform; a stake of Three Gorges Life Insurance Co., Ltd. was re-auctioned at a lower price on February 27 after the initial auction ended without a buyer. Industry insiders believe that the two recent insurance company equity auctions reflect a change in the capital market's criteria for choosing insurance company equity, shifting from a focus on license scarcity to a greater emphasis on sustained profitability and professional capability, driving the valuation of insurance company equity to return to rationality.