Insurance stocks exhibit dual dividend characteristics. Firstly, listed insurance companies inherently possess dividend advantages. Secondly, prominent insurance firms like Ping An have strategically allocated high-yielding assets both domestically and internationally, positively influencing their performance. Larger life insurance companies maintain a more balanced asset-liability match, with a narrowing duration gap. Conversely, smaller and medium-sized companies experience a wider and steadily increasing duration gap due to their high allocation towards growing life insurance products.