Insurers Intensify Bond Issuance and Capital Increases; Perpetual Bond Yields Enter the "1% Range"

Under pressure on the scale of core capital in the insurance industry and with bond issuance rates continuing to decline, some insurance companies are "replenishing capital" by issuing capital supplementary bonds and perpetual bonds. As of September 16, 16 insurance companies had cumulatively issued 10 perpetual bonds and 9 capital supplementary bonds this year, with a total issuance scale of 52.510 billion yuan. The coupon rates on perpetual bonds have entered the "1% range." In addition, 10 insurance companies, including Huatai Life, "replenished capital" by increasing registered capital.