保险行业2026年度策略报告：攻守兼备乘势而上

平安证券2025-12-12

行情复盘：保险股震荡上涨，风格切换导致板块跑输大市。负债端高景气，权益市场表现带动资产端高弹性，2025 年保险Ⅱ（申万）指数呈现震荡上涨之势，但由于7 月以来市场风险偏好显著回暖，科技行情加速，A 股保险板块总体跑输沪深300。个股方面，新华保险涨幅明显领先于同业，主要由于资负两端业绩增速较高、实际交易盘市值不大，股价弹性较强。资产端：权益投资比例提升，配置多元化重要性凸显。政策支持险资入市，...

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保险行业2026年度策略报告：攻守兼备 乘势而上

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保险行业2026年度策略报告：攻守兼备乘势而上