北京商报讯8月28日，在中国人保2025中期业绩发布会上，谈及各行各业"反内卷"，中国人保副总裁、 人保财险总裁于泽表示，"反内卷"从客户端来讲，保险的需求回归理性，为财产行业的市场秩序规范和 理性营造良好的外部环境。 从保险行业角度，于泽分析，将有利于行业转型升级和内涵发展，引导各个市场主体将资源重点从原来 的比价格、拼规模、抢份额，向产品和技术创新的方向转变，集中精力研发保险技术，提升服务能力， 减少非理性投入和盲目竞争，实现良性的高质量发展。 （文章来源：北京商报） ...

北京商报讯（记者李秀梅）8月28日，在中国人保2025中期业绩发布会上，谈及中国人保股价多次创下 新高，中国人保总裁赵鹏表示，有三方面原因，一是我国经济社会高质量发展，为保险业带来了历史性 发展机遇。二是发展环境不断改善。近年来，监管机构引导保险业回归本源，全面提升保险业的保障能 力和服务水平，包括车险综合改革、预定利率动态调整机制、银保渠道"报行合一"等政策举措。三是公 司基本面持续向好，价值创造能力显著增强。 （文章来源：北京商报） ...

Core Viewpoint - Bank of America Securities reports that China People's Insurance Group (01339) achieved a 14% year-on-year increase in net profit for the first half of the year [1] Group 1: Financial Performance - The company experienced stable premium growth, with property and casualty insurance business increasing by 4% year-on-year [1] - The combined expense ratio decreased to 94.8% [1] - The new business value for life insurance grew by 27% to 8.8 billion RMB [1] Group 2: Earnings Forecast and Target Price - Bank of America has raised its earnings forecast for the company for 2025 to 2027 by 1% to 10%, reflecting higher investment income assumptions and expectations for property and casualty insurance revenue [1] - The target price for the company has been increased by 7%, from 6.6 HKD to 7 HKD, while maintaining a "Neutral" rating [1]

从资金流向上来看，当日保险板块主力资金净流出3.56亿元，游资资金净流入1.19亿元，散户资金净流入 2.37亿元。保险板块个股资金流向见下表： | 代码 | 名称 | 主力净流入 (元) | 主力净占比 游资净流入 (元) | | 游资净占比 散户净流入 (元) | | 散户净占比 | | --- | --- | --- | --- | --- | --- | --- | --- | | 601319 中国人保 | | 4868.47万 | 5.49% | 1812.38万 | 2.04% | -6680.86万 | -7.54% | | 601628 中国人寿 | | -5101.96万 | -4.73% | 5108.35万 | 4.74% | -6.39万 | -0.01% | | 601601 中国太保 | | -8045.81万 | -7.31% | 2581.18万 | 2.34% | 5464.63万 | 4.96% | | 601318 中国平安 | | -1.26亿 | -3.36% | 1861.92万 | 0.50% | 1.07亿 | 2.87% | | 601336 新华保险 | ...

今年3月，人保寿险和人保资产获批100亿元长期股票投资试点。才智伟表示，获批试点后人保集团第一 时间成立了筹备组，去筹备成立私募基金管理公司。8月14日，人保资产设立私募基金管理公司已获得 金融监管总局批复同意。另据工商信息，8月18日人保启元惠众(北京)私募基金管理有限公司已成立。 人民财讯8月28日电，8月28日下午，中国人保（601319）举行2025中期业绩发布会，中国人保副总裁才 智伟回答证券时报记者提问时表示，人保集团长期股票投资试点的私募证券投资基金，投资策略将以A 股为主，注重长期投资价值和回报的稳定性，重点关注具有好的发展潜力的优质标的，同时会做好投资 风险管控，致力于实现长期稳定回报。 ...

北京商报讯（记者 李秀梅）8月28日，在中国人保2025中期业绩发布会上，谈及中国人保未来发展，中 国人保总裁赵鹏表示，中国人保推进建设世界一流保险金融集团的战略，今年重在把握好三个重点：一 是重点增强保障功能，二是重点强化发展质量，三是重点深化"六项改革"。 赵鹏介绍，上半年，中国人保高质量发展取得显著成效，财产险综合成本率95.3%，创近10年同期最好 水平；人身险新业务价值88亿元，创历史同期最高；集团总投资收益415亿元，创历史同期新高；集团 合并净利润359亿元，创历史同期新高。 ...

Core Viewpoint - China Pacific Insurance aims to balance capital strength with shareholder returns by reserving funds for dividends while enhancing underwriting capacity and sustainable development [1] Group 1 - The company emphasizes the need to reserve funds during dividend distribution to maintain capital strength [1] - The focus is on creating long-term value for shareholders through stable growth in dividends per share [1] - The company aims to enhance its profitability to provide predictable returns and share the benefits of its growth with investors [1]

Core Viewpoint - China People's Insurance Group reported strong mid-year performance for 2025, highlighting significant growth in premium income, net profit, and new business value, indicating a successful high-quality development strategy. Group 1: Operating Indicators Overview - The original insurance premium income reached 454.625 billion, a 6.4% increase from 427.285 billion in 2024 [1] - Net profit increased by 17.8% to 35.888 billion from 30.455 billion in 2024 [1] - The weighted average return on equity rose by 0.5 percentage points to 8.5% [1] - New business value for life insurance surged by 71.7% to 4.978 billion [1] Group 2: Business Scale and Growth - The group achieved premium income of 454.625 billion, up 6.4% year-on-year [2] - Life insurance premium income grew by 13.8% to 131.2 billion, with first-year premium income reaching a historical high [2] - Investment assets exceeded 1.7 trillion, marking a 7.2% increase since the beginning of the year [2] Group 3: Business Structure Optimization - The proportion of life insurance premium income in total premium income increased by 1.9 percentage points [3] - Non-auto insurance premium income grew by 16.6%, significantly outpacing overall premium income growth [3] - New business value rate improved by 3.9 percentage points, reflecting enhanced business collaboration [3] Group 4: Profitability Foundation - Insurance service performance reached 277 billion, continuing to grow from last year [4] - Investment performance increased by 78.3% to 175 billion [4] - Underwriting profit for property insurance rose by 53.5% to 117 billion [4] Group 5: Risk Management - The group maintained a stable risk preference with no major risk events reported [6] - The solvency adequacy ratio stood at 219%, indicating strong financial health [5] - The net cash flow from operating activities increased by 6.9% year-on-year [6] Group 6: Social and Economic Contributions - The group served 317 million individual clients and 7.94 million institutional clients, with risk coverage amounting to 178 trillion [7] - The company actively participated in disaster relief efforts, handling claims for significant disasters [7] - Investment in the real economy exceeded 1.1 trillion, demonstrating commitment to long-term investments [7] Group 7: Financial Initiatives - The group established a technology insurance center and covered 127,000 high-tech enterprises [9] - Green finance initiatives included insuring 6.16 million new energy vehicles, a 36.8% increase [9] - The group expanded its digital finance capabilities, launching innovative insurance products [9] Group 8: Future Work Focus - The group aims to enhance functionality and support economic development while maintaining high-quality growth [10][11] - Emphasis will be placed on risk prevention and management to ensure sustainable development [12]

今日在2025年中期业绩发布会上，中国人保副总裁于泽表示，非车险的"报行合一"政策多次发布征求意 见稿，目前监管在紧锣密鼓推进，预计在今年四季度有望落地。政策落地之后，可能对公司当季营收有 一定影响，但是对全年的影响不大；预计对2026年非车险的盈利会有很好的改善。 ...

Group 1 - The insurance industry achieved original premium income of 42,085 billion yuan from January to July 2025, representing a year-on-year increase of 6.8% and a month-on-month increase of 1.5 percentage points [1][2] - Life insurance continues to support the industry's accelerated growth, with life insurance premiums reaching 25,761 billion yuan, a year-on-year increase of 9.1% and a month-on-month increase of 2.5 percentage points [2][3] - Non-auto insurance premiums increased by 5.8% year-on-year, with specific growth rates for various segments: accident insurance +13%, health insurance +10.1%, liability insurance +3.8%, and agricultural insurance +3.2% [1][4] Group 2 - As of the end of July 2025, the total assets of the insurance industry reached 39.59 trillion yuan, an increase of 10.3% compared to the end of the previous year, with net assets of 3.84 trillion yuan, up 15.5% [5] - The growth of life insurance sales is expected to continue until August 2025, driven by the adjustment of the predetermined interest rate, although an overall slowdown is anticipated later in the year [6] - Property insurance growth is primarily driven by non-auto insurance, with the auto insurance sector expected to undergo transformation due to the gradual replacement of traditional fuel vehicles by new energy vehicles [6][7] Group 3 - Recommended stocks include China Pacific Insurance (02601), China Life Insurance (02628), Ping An Insurance (02318), and China People's Insurance Group (01339) [8]