Guosheng Securities released a research report saying that the policy pushes medium- to long-term capital into the market, and the market is expected to continue to welcome incremental insurance capital. Of the 2025Q3 insurance holdings, the construction holdings were 8.52 billion yuan, accounting for 1.31%. In terms of capital allocation, it is estimated that the capital allocated by insurance capital to the construction sector in 2025-2026 was 508/79.4 billion yuan, respectively, with an increase of 28.6 billion yuan in 2026 billion yuan, accounting for 3.53% of the market value of free circulation. The overall ratio of insurance capital invested in construction can be viewed as the proportion of the construction sector where insurance capital is heavily held. At the same time, considering that the construction sector has a significant dividend rate advantage, insurance capital may increase its allocation to the construction sector in the future.

Guosheng Securities released a research report saying that the policy pushes medium- to long-term capital into the market, and the market is expected to continue to welcome incremental insurance capital. Of the 2025Q3 insurance holdings, the construction holdings were 8.52 billion yuan, accounting for 1.31%. In terms of capital allocation, it is estimated that the capital allocated by insurance capital to the construction sector in 2025-2026 was 508/79.4 billion yuan, respectively, with an increase of 28.6 billion yuan in 2026 billion yuan, accounting for 3.53% of the market value of free circulation. The overall ratio of insurance capital invested in construction can be viewed as the proportion of the construction sector where insurance capital is heavily held. At the same time, considering that the construction sector has a significant dividend rate advantage, insurance capital may increase its allocation to the construction sector in the future.