Core Insights - China Taiping reported a 3.5% year-on-year increase in insurance service revenue, reaching HKD 111.3 billion for the fiscal year ending December 31, 2024 [1] - The net profit surged by 36.2% to HKD 8.432 billion, with total assets exceeding HKD 1.7 trillion, marking a 14.9% growth compared to the end of 2023 [1] - The board proposed a final dividend of HKD 0.35 per share for the fiscal year [1] Life Insurance Segment - In the life insurance sector, insurance service revenue grew by 5.9%, and the performance of insurance services increased by 19.9% [1] - Domestic life insurance revenue rose by 4.6%, with a 23.5% increase in service performance, attributed to effective value transformation and improved operational efficiency [1] Property and Casualty Insurance Segment - The property and casualty insurance segment saw a 3.5% increase in insurance service revenue, with a combined cost ratio of 98.1% [1] - Motor insurance revenue grew by 2.8%, with a renewal rate improvement of 1.9 percentage points, while non-motor insurance revenue increased by 4.8%, indicating ongoing business structure optimization [1] Reinsurance Segment - Reinsurance service revenue declined by 8.4%, primarily due to the depreciation of the RMB against the HKD and business structure optimization [2] - The property insurance combined cost ratio stood at 92.7%, reflecting strong underwriting profitability and maintaining a leading position in the Hong Kong property insurance reinsurance market [2] Investment Performance - The investment assets of the group reached HKD 1.5621 trillion, a 15.8% increase from the previous year [2] - Net investment income rose by 12.0% to HKD 50.336 billion, driven by higher bond interest income compared to the previous year [2]

伴随"双碳"目标的提出，发展新能源车险已经成为服务国家绿色转型和实体经济发展的关键一环。对于 新能源车险市场这片"蓝海"，2025年将迎来哪些变化、头部险企有何发展策略？在上市险企2024年度业 绩发布会上，新能源车险相关话题受到高度关注。 今年1月，金融监管总局等四部门联合出台《关于深化改革加强监管促进新能源车险高质量发展的指导 意见》，引导行业合理降低新能源汽车维修使用成本、建立高赔付风险分担机制和平台、优化自主定价 系数浮动范围。 《金融时报》记者注意到，多家上市险企高管在谈及对新能源车的承保策略时均表示，目前重点关注风 险定价能力，以管控经营成本，并通过深化与车企等相关机构的合作，提升新能源车险盈利水平。 人保集团副总裁、人保财险总裁于泽表示，人保财险新能源车市场份额较高，渠道掌控能力和定价能力 也很强，与维修、电池厂家等进行了深度的合作。如果政策方面能进一步扩大自主定价系数的浮动范 围，公司新能源车的盈利水平会明显提升。 据中国太平集团副总经理朱捷介绍，公司搭建了新能源车专属定价数据库，依据车辆信息、车辆使用特 征等风险因子开发了新车分类模型，基于从车因子、电池系统和动态因子建立了旧车评分模型，将不 ...

Core Viewpoint - The Financial Regulatory Bureau has issued a notification to adjust the regulatory ratio of insurance funds in equity assets, aiming to enhance support for the capital market and the real economy [1][3]. Group 1: Policy Adjustments - The notification raises the upper limit for equity asset allocation, simplifying the tiered standards and increasing the equity asset ratio by 5% for certain solvency ratios, thereby expanding investment space for equity [3][4]. - It increases the concentration ratio for investments in venture capital funds, guiding insurance funds to invest more in strategic emerging industries [3]. - The notification relaxes the regulatory requirements for tax-deferred pension accounts, promoting the high-quality development of the third pillar of pension insurance [3]. Group 2: Market Reactions - Major insurance companies have expressed strong support for the policy, emphasizing their commitment to long-term and value investments in the capital market [2][5]. - Companies like China Life and China Re have announced plans to increase their investments in equity assets, reflecting confidence in the long-term prospects of the Chinese economy and capital market [5][8]. Group 3: Investment Strategies - Insurance institutions are actively demonstrating their commitment to long-term investments by increasing their holdings in equity assets and repurchasing stocks [7][8]. - China Pacific Insurance has proposed a stock buyback to enhance shareholder value and confidence in the company's future [8]. - The focus of investments will be on strategic emerging industries, advanced manufacturing, and new infrastructure, aligning with national economic development goals [8][9].

Core Viewpoint - The Ministry of Finance's recent notification aims to guide insurance funds towards long-term stable investments and enhance the long-cycle assessment of state-owned commercial insurance companies, addressing the issue of short-term investment tendencies in the industry [1][2]. Group 1: Changes in Assessment Mechanism - The assessment method for "return on net assets" has been adjusted from a combination of "3-year cycle indicator + annual indicator" to "annual indicator + 3-year cycle indicator + 5-year cycle indicator," with respective weights of 30%, 50%, and 20% [2][3]. - The adjustment is expected to alleviate the pressure on investment managers from short-term performance fluctuations, encouraging a focus on stable long-term returns [3][4]. Group 2: Impact on Investment Behavior - The notification is seen as a key measure to promote investment behavior that transcends cyclical fluctuations, emphasizing the importance of long-term capital and enhancing asset allocation capabilities [4][8]. - Insurance companies are encouraged to increase their equity market investments, particularly in light of new accounting standards that have increased the volatility of investment returns [3][8]. Group 3: Addressing Investment Barriers - The insurance sector faces three main barriers to market entry: the mismatch between long-cycle investments and short-cycle assessments, solvency pressures limiting equity investment enthusiasm, and the volatility of profits and net assets due to stock investments [6][7]. - Recent policy initiatives aim to alleviate these barriers, including a comprehensive implementation of long-cycle assessments for state-owned insurance companies and adjustments to risk factors for stock investments [6][7]. Group 4: Strategic Investment Directions - The notification emphasizes the need for state-owned insurance companies to enhance asset-liability management and align investment strategies with long-term stability and risk control [8][9]. - Companies are expected to focus on high-quality investment opportunities, including infrastructure REITs, green bonds, and sectors like artificial intelligence and biomedicine, to support the real economy [8][9].

根据《保险公司管理规定》第五十五条、第六十九条的规定，国家金融监督管理总局吕梁监管分局 决定对太平人寿保险有限公司吕梁中心支公司处以责令改正，警告，罚款1万元；对张鹏辉处以警告， 罚款3000元。 《保险公司管理规定》第五十五条规定：保险公司应当建立健全公司治理结构，加强内部管理，建 立严格的内部控制制度。 中国经济网北京7月25日讯 国家金融监督管理总局吕梁监管分局今日发布行政处罚信息公开表（吕 金管罚决字〔2025〕14号）。太平人寿保险有限公司吕梁中心支公司存在以下违法违规行为：保险销 售行为可回溯内控管理不规范。张鹏辉（时任太平人寿保险有限公司吕梁中心支公司银保部内勤）对太 平人寿保险有限公司吕梁中心支公司保险销售行为可回溯内控管理不规范的违法违规行为负有责任。 《保险公司管理规定》第六十九条规定：保险机构或者其从业人员违反本规定，由中国保监会依照 法律、行政法规进行处罚；法律、行政法规没有规定的，由中国保监会责令改正，给予警告，对有违法 所得的处以违法所得1倍以上3倍以下罚款，但最高不得超过3万元，对没有违法所得的处以1万元以下 罚款；涉嫌犯罪的，依法移交司法机关追究其刑事责任。 以下为原文： （责 ...

Core Insights - Multiple insurance companies in China, including China Life, China Taiping, and China Pacific, have reported growth in asset scale and premium income for the first half of 2025, while outlining key focuses for the second half of the year [1][2] Performance Indicators - China Pacific reported an insurance liability amount of 178 trillion yuan and total assets exceeding 4 trillion yuan, marking an 11.3% increase from the beginning of the year [2] - China Taiping's total assets reached 1.7 trillion yuan, a 6.4% increase, with total premium income at 155.67 billion yuan [2] - China Life Group's total assets surpassed 8 trillion yuan (excluding Guangfa Bank), with a consolidated revenue growth of 8.4% and insurance payouts of 237.2 billion yuan [2] - New China Life reported a 23% year-on-year increase in premium income, totaling 121.26 billion yuan [2] Strategic Focus for H2 2025 - Companies emphasized enhancing financial services to the real economy, strengthening asset-liability linkage, and accelerating digital transformation as key priorities for the second half of 2025 [3] - China Pacific aims to improve service quality for national priorities and enhance operational efficiency [3] - China Life Group plans to increase insurance coverage in key areas affecting national welfare and support the stability of capital markets [3] - Zhejiang Merchants Insurance intends to capitalize on opportunities in the auto insurance sector and enhance investment returns [3] - Everbright Sun Life focuses on product system improvement and risk management to stabilize solvency [4]

Core Viewpoint - The insurance industry in China is showing steady progress and quality improvement in the first half of 2025, with companies focusing on their main responsibilities and high-quality development for the second half of the year [1][3]. Group 1: Performance and Growth - As of June 30, China Pacific Insurance's total assets exceeded 4 trillion yuan, growing by 11.3% since the beginning of the year, with insurance liabilities amounting to 178 trillion yuan [2]. - China Life Insurance reported a cumulative new insurance coverage amount exceeding 450 trillion yuan, with claims expenditures of 237.2 billion yuan, a year-on-year increase of 14.7% [2]. - The group’s consolidated operating income grew by 8.4% year-on-year, with total assets surpassing 8 trillion yuan (excluding Guangfa Bank) and managed total assets exceeding 15 trillion yuan [2]. - The operational efficiency of various insurance companies improved through business structure optimization, with China Life achieving a 95.8% intelligent underwriting review rate and a claims service efficiency of 0.2 days [2]. Group 2: Strategic Focus and National Development - Insurance companies actively supported national strategies, contributing to the real economy, green development, technological innovation, and inclusive finance [4][5]. - China Life's investment in the real economy reached over 5 trillion yuan, with net equity investments exceeding 90 billion yuan [4]. - In green finance, China Pacific reported a 17.4% increase in green insurance premiums, with investments in the green sector reaching 583.6 billion yuan [4]. Group 3: Future Directions and Innovations - Insurance companies outlined their strategies for the second half of the year, emphasizing the need for continuous reform and innovation to enhance service quality and risk management [7][8]. - China Life aims to strengthen its technological capabilities and improve digital management across various operational areas [8]. - Companies are focusing on product innovation, with China Life expanding its offerings in inclusive finance and pension products, while also enhancing sales channel transformations [9].

市政府党组成员徐本，市有关部门负责同志参加会见。 在简要介绍中国太平保险的业务发展情况及在苏州的布局后，朱捷表示，苏州经济活力充沛，发展 前景广阔，中国太平保险高度重视苏州市场。未来将立足苏州经济社会发展实际所需，加强各领域的创 新合作，不断优化金融产品和服务，助力苏州产业升级和科技创新，深化长护险等保险产品服务创新， 为苏州百姓提供更全面、更优质的保险保障。 昨天（8月5日），市委副书记、市长吴庆文会见了中国太平保险集团副总经理、太平财产保险有限 公司总经理朱捷一行。 吴庆文对客人一行的到访表示欢迎，对中国太平保险给予苏州发展的支持和帮助表示感谢。他说， 当前，苏州正牢牢把握高质量发展首要任务，大力推进"险资入苏"，加速集聚优质金融资源，全方位服 务新质生产力发展，致力在推进中国式现代化中走在前、做示范。希望中国太平保险充分发挥金融央企 的综合优势，积极参与苏州金融"五篇大文章"建设，特别是在科技金融、养老金融等领域加大创新和投 入，推出更多首创性、示范性合作成果，为苏州新质生产力发展提供有力的金融支撑。 ...

格隆汇8月4日丨中国太平(00966.HK)宣布，公司将于2025年8月28日（星期四）举行董事会会议，藉以 （其中包括）考虑及批准公司及其附属公司截至2025年6月30日止六个月的中期业绩，并处理任何其他 事项。 ...

香港交易及結算所有限公司及香港聯合交易所有限公司對本公告的內容概不負責，對其準確性或完整性亦不發 表任何聲明，並明確表示，概不對因本公告全部或任何部份內容而產生或因倚賴該等內容而引致的任何損失承 擔任何責任。 中國太平保險控股有限公司（「本公司」）宣佈，本公司將於2025年8月28日（星期四）舉行 董事會（「董事會」）會議， 藉以（其中包括）考慮及批准本公司及其附屬公司截至2025年6 月30日止六個月之中期業績，並處理任何其他事項。 承董事會命 中國太平保險控股有限公司 公司秘書 張若晗 中國香港，2025 年 8 月 4 日 於本公告日期，本公司董事會由 10 名董事組成，其中尹兆君先生及李可東先生為執行董事，郭兆旭先生、胡興 國先生、張翠女士及周梁剛先生為非執行董事，羅范椒芬女士、劉怡女士、邵善波先生及蔡洪平先生為獨立非 執行董事。 （於香港註冊成立之有限公司） （股份代號：966） 董事會會議日期 ...