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CHINA LIFE Collapses ~5% Amid Rumors of CN Reducing Life Insurance Product Predetermined Rates Next Season
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Rumor has it that China will lower the predetermined interest rates for life insurance products next season, heaping pressure on Chinese insurers today (10th). CHINA LIFE (02628.HK) last printed at $13.04, down 4.82%, on a volume of 68.8468 million shares, involving $910 million.

PING AN (02318.HK) last printed at $41.1, down 3.97%, on a volume of 56.0492 million shares, involving $2.33 billion. CPIC (02601.HK) last printed at $21.75, down 4.4%, on a volume of 12.2494 million shares, involving $269 million. NCI (01336.HK) last printed at $21.15, down 4.73%. PICC GROUP (01339.HK) last printed at $3.6, down 1.91%.

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The market today was abuzz with news that documents related to the pricing mechanism for China's life insurance product interest rates may be released soon. The industry expected a reduction in predetermined interest rates for life insurance products next season. The upper limit is expected to decrease from 2.5% to 2% for the predetermined interest rate of newly filed ordinary insurance products and from 2% to 1.5% for the predetermined interest rate of newly filed participating insurance products, while the minimum guaranteed interest rate upper limit for newly filed universal insurance products is expected to drop from 1.5% to 1%.
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