【国泰海通非银刘欣琦团队】预计盈利稳健，资负匹配持续改善——上市险企2025年中报业绩前瞻

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预计盈利稳健，资负匹配持续改善上市险企2025年中报业绩前瞻本报告导读我们预计上市险企25H1净利润稳健增长，净资产仍有压力；可比口径下寿险NBV延续增长，财险COR改善；资负匹配持续改善，看好保险股估值修复。摘要股债市场回暖叠加资产配置优化，预计25H1利润稳健增长，净资产仍有压力：1）2025年上半年股债市场表现回暖，我们预计上市险企持有的FVTPL固收资产及FVTPL权益资产共同推动投资...

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