方正证券：保险利差风险缓释、保单销售回暖估值有望逐步向1x PEV修复

智通财经2025-11-07

智通财经APP获悉，方正证券发布研报称，保险业资负两端同步改善、开门红预计延续稳增长趋势，估值或迎持续修复。利率企稳、权益改善，推动投资收益率企稳回升;报行合一、预定利率下调等监管政策呵护下负债成本能持续压降等，利差风险持续缓解，叠加权益弹性显著，业绩和估值有望双击。方正证券主要观点如下：业绩概览：净利润显著提速，净资产环比改善利润环比显著提速，预计4Q25增速将保持稳健。利润增速排序：国寿(+...

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方正证券：保险利差风险缓释、保单销售回暖 估值有望逐步向1x PEV修复

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方正证券：保险利差风险缓释、保单销售回暖估值有望逐步向1x PEV修复