China Insurers Slow A-Share and Hong Kong Stock Buying Pace in 2026 After 2025 Surge

After a surge of insurance funds entering the market in 2025, the pace has clearly slowed in 2026, according to 36Kr. Shanghai Securities News reported that since the start of this year, the number of stake-building moves by insurers in both China A-shares and Hong Kong stocks has fallen sharply from last year, while the growth rate of equity holdings within insurers' investable asset balances has also eased. Market participants said 2025 marked a year of rapid increases in equity allocations, and the 2026 slowdown has been influenced by factors including premium growth on the liability side and market performance. They added that over the long term, increasing equity exposure remains a core investment theme for insurers, but the pace is likely to be more gradual and target selection more selective.