近日，上市险企发布的中期业绩显示，五家人身险公司银保渠道的保费规模与业务价值同步实现大 幅提升。这意味着，在严格落实"报行合一"两年后，银保渠道的活力被重新点燃。 银保渠道上半年规模与价值同步提升 上半年，五家上市人身险公司银保渠道共计实现保费收入2549.97亿元，同比增长46.9%。具体而 言，中国人寿为724.44亿元，同比增长45.7%；人保寿险为531.04亿元，同比增长24.1%；新华保险为 461.6亿元，同比增长65.1%；太保寿险为416.6亿元，同比增长82.6%；中国平安（平安寿险、平安养老 险和平安健康险经营寿险及健康险业务）为415.97亿元，同比增长37.5%。 银保渠道对五家公司总保费收入的贡献越来越大，由去年同期的14.2%提升至19.3%。尤为值得关 注的是，在带动保费收入增长的同时，银保渠道也是拉动五家公司业务价值增长的重要引擎，各项核心 指标全面提升。 比如，在衡量保险公司价值、盈利能力和可持续发展能力的关键业务指标——新业务价值上，上半 年，人保寿险保费收入近六成来自银保渠道，新业务价值同比增长高达71.7%；中国平安实现新业务价 值59.72亿元，同比增长168.6% ...

申万宏源发布研报称，分红险独立账户独立投资，风险偏好较一般账户更高；预定利率非对称调整后， 分红险的相对吸引力有望进一步提升。兴业证券则表示，保险股自2024年4月启动的估值修复行情，本 质是市场对过度悲观的利率下行预期的修正。此前板块因利差损风险担忧遭显著错杀，当前随着投资者 对"预期差"认知的深化，保险股特别是港股保险股估值修复动能有望持续强化。 内险股午后涨幅扩大，截至发稿，中国太保(02601)涨4.85%，报32.84港元；中国人保(01339)涨3.28%， 报6.93港元；中国财险(02328)涨3.27%，报18.93港元；中国人寿(02628)涨3%，报23.38港元。 消息面上，上半年上市险企分红险转型表现亮眼，太平人寿分红险在长险首年期缴保费中占比87.1%； 中国人寿分红险占个险渠道首年期交保费超50%，新单保费占比超19.87%；太保寿险分红险占新保期缴 的42.5%，新单保费占比16.1%；新华保险自二季度起开始着重发力推动分红险转型，上半年公司分红 险新单保费占比10.9%。 ...

Core Insights - The insurance industry is actively enhancing its resilience and risk management capabilities in response to increasing extreme weather events due to global climate change [1][2][5] Group 1: Industry Response to Catastrophic Risks - Listed insurance companies are leveraging digital and intelligent technologies throughout the entire process of disaster risk reduction, shifting from "passive acceptance" of losses to "proactive reduction" [2] - China Pacific Insurance has developed various types of catastrophe insurance, providing risk coverage exceeding 600 billion yuan in the first half of 2025 [4] - China Reinsurance is enhancing its catastrophe risk protection and climate risk response capabilities, participating in pilot projects across 21 provinces and cities [6] Group 2: Risk Reduction Initiatives - China Life Insurance reported a net loss of 2.51 billion yuan due to major disasters in the first half of 2025, a decrease of 38.3% year-on-year, with disaster impact on the comprehensive claims ratio at 1 percentage point [2][3] - The company has implemented a risk reduction service platform, "Wanxiang Cloud," achieving full-process digital upgrades and enhancing collaboration with the China Meteorological Administration [2] - China Pacific Insurance is continuously improving its agricultural insurance disaster response mechanism, reaching 206,000 farming households with risk reduction services [4] Group 3: Reinsurance Mechanisms - The insurance industry is optimizing reinsurance mechanisms to enhance financial resilience against catastrophic risks, implementing a "proportional + excess" catastrophe protection system [5][6] - China Reinsurance has adjusted its reinsurance contract structures to focus on catastrophe risk pain points, increasing the reinsurance ratio for various contracts [6] - The overall reinsurance market is experiencing fluctuations in renewal rates, with some business lines maintaining upward pressure on rates despite increased losses from global catastrophic events [7]

每经AI快讯，内险股午后涨幅扩大，截至发稿，中国太保(02601.HK)涨4.85%，报32.84港元；中国人保 (01339.HK)涨3.28%，报6.93港元；中国财险(02328.HK)涨3.27%，报18.93港元；中国人寿(02628.HK)涨 3%，报23.38港元。 （文章来源：每日经济新闻） ...

更具有突破性的是，因高出险率、高赔付率陷入亏损的新能源车险，今年上半年迎来转机。多家头 部险企实现承保盈利，行业整体盈利的曙光初现。 近期，各大上市险企纷纷披露2025年中期业绩报告。从半年报中可以看出，车险业务依旧是财险板 块的中流砥柱，财险"老三家"人保财险、平安产险、太保产险车险业务合计实现保费收入3062亿元，占 行业整体六成以上。 业内人士普遍认为，新能源车险正迎来重塑车险格局的关键转折点。"报行合一"政策持续发力，有 效遏制了市场拼费用的无序竞争，叠加人工智能定损、智能核保等科技手段落地，推动行业"反内卷"见 效，车险综合成本率实现优化。不过，保险业也须正视挑战。商用车新能源车险仍处亏损，下半年成本 上行压力及行业竞争加剧，仍考验着险企的经营能力。 车险综合成本率实现优化 上半年，平安产险车险综合成本率为95.5%，同比优化2.6个百分点。综合成本率下降主要得益于车 险费用优化，深化"报行合一"改革，持续推进了费用精细化管理、优化了费用投入。 太保产险车险业务通过加强渠道专业化建设、品质精细化管理和运营数字化赋能，实现了业务结构 优化，盈利水平有所提升。上半年，车险综合成本率为95.3%，同比下降 ...

普惠保险对于稳民生、促经济所能发挥的重要作用日益显现。近日，五家A股上市险企半年报陆续 出炉，从披露的相关信息和数据中可以清晰看到，在这张"金融为民"的时代考卷上，上市险企正 以"普"与"惠"的笔触，勾勒出一幅幅守护人民美好生活的温暖图景。 谈及下一步发展规划，上市险企纷纷表示，要多元化推进产品创新和服务赋能，不断提升保险服务 的覆盖面、便利性、可得性，着力写好普惠金融大文章。 持续丰富重点领域普惠保险保障，重点提高对小微企业和个体工商户保障力度。记者注意到，今年 以来，上市险企持续发展适合小微企业、个体工商户从业人员的企业财产保险、意外伤害保险、健康保 险等产品，有效提升了小微企业和个体工商户的抗风险能力。 上半年，平安产险累计开发1741款产品，为161万家小微企业提供了189万亿元风险保障。对此，平 安在2025年半年报中称，这是今年以来中国平安不断探索"保险+科技+服务"新模式的成果。新华保险 支持民营经济、中小微企业发展相关投资余额超227亿元，同比增长超200%；开发推广普惠专属产品， 为超3.6万家企业提供风险保障1.34万亿元。 推动农业保险"扩面、增品、提标"，助力乡村全面振兴。据太保产险有 ...

申万宏源发布研报称，分红险独立账户独立投资，风险偏好较一般账户更高；预定利率非对称调整后， 分红险的相对吸引力有望进一步提升。兴业证券则表示，保险股自2024年4月启动的估值修复行情，本 质是市场对过度悲观的利率下行预期的修正。此前板块因利差损风险担忧遭显著错杀，当前随着投资者 对"预期差"认知的深化，保险股特别是港股保险股估值修复动能有望持续强化。 智通财经APP获悉，内险股午后涨幅扩大，截至发稿，中国太保(02601)涨4.85%，报32.84港元；中国人 保(01339)涨3.28%，报6.93港元；中国财险(02328)涨3.27%，报18.93港元；中国人寿(02628)涨3%，报 23.38港元。 消息面上，上半年上市险企分红险转型表现亮眼，太平人寿分红险在长险首年期缴保费中占比87.1%； 中国人寿分红险占个险渠道首年期交保费超50%，新单保费占比超19.87%；太保寿险分红险占新保期缴 的42.5%，新单保费占比16.1%；新华保险自二季度起开始着重发力推动分红险转型，上半年公司分红 险新单保费占比10.9%。 ...

2025年9月1日，国家金融监督管理总局沧州监管分局发布批复称，《关于中国人民财产保险股份有限公 司青县支公司流河营销服务部变更营业场所的请示》（冀人保财险发〔2025〕199号）收悉。经审核， 现批复如下： 一、同意中国人民财产保险股份有限公司青县支公司流河营销服务部将营业场所变更为：河北省沧州市 青县流河镇南辛房村津保路北侧门市楼一层。 二、中国人民财产保险股份有限公司应按照有关规定及时办理变更及许可证换领事宜。 ...

Core Viewpoint - The property insurance industry in China is transitioning from scale-driven growth to value-driven development, taking on greater responsibilities in serving national strategies and social welfare [2]. Industry Performance - In the first half of 2025, the property insurance industry showed steady performance with improved underwriting efficiency, with major players like China Life Property, Ping An Property, and China Pacific Property collectively generating original insurance premium income of 607.9 billion yuan, accounting for approximately 63% of the market share [3]. - China Life Property reported premium income of 323.28 billion yuan, a year-on-year increase of 3.6%; Ping An Property achieved 171.86 billion yuan, up 7.1%; and China Pacific Property reached 112.76 billion yuan, growing by 0.9% [3]. - The comprehensive cost ratios for these companies improved, with China Life at 95.3%, Ping An at 95.2%, and China Pacific at 96.3%, indicating enhanced underwriting profitability [3]. Cost Management and Profitability - The decline in comprehensive cost ratios is attributed to collaborative efforts in expense management, risk pricing, and claims control [3]. - China Life's president noted a 3.2 percentage point decrease in the comprehensive cost ratio due to refined expense management and the application of digital pricing models [3]. - The "reporting and operation unity" reform has standardized non-auto insurance pricing, laying a foundation for improved profitability [3]. Key Segments and Innovations - The auto insurance sector remains a core area, with significant improvements in the profitability of new energy vehicle insurance, which had previously struggled with high claims and repair costs [5]. - China Pacific Property reported new energy vehicle insurance premium income of 10.596 billion yuan, with a profitability milestone achieved for the first time [6]. - Ping An Property's new energy vehicle insurance premiums grew by 46%, contributing to positive underwriting profits through technological innovations in underwriting and claims processes [6]. Non-Auto Insurance Growth - Non-auto insurance premiums are increasing, with China Life reporting 179.22 billion yuan in non-auto premiums, a 3.8% year-on-year growth [7]. - The comprehensive cost ratios for agricultural insurance and liability insurance improved, while health insurance costs rose to 101.8% [7]. - The implementation of the "reporting and operation unity" policy for non-auto insurance is expected to enhance industry standards and profitability [7]. Technological Advancements - Technology is a key driver for high-quality development in the property insurance sector, with the adoption of AI, IoT, and big data enhancing efficiency and customer experience [8]. - Companies are utilizing smart claims processing and real-time data collection for agricultural insurance, improving risk monitoring and response [8]. Catastrophe Insurance and Risk Management - Catastrophe insurance is increasingly recognized as a market necessity and a service to national strategy, with companies focusing on developing catastrophe models and risk management technologies [9]. - The industry is moving towards a risk reduction model that emphasizes prevention, emergency response, and post-disaster compensation, showcasing the social value of insurance [9].

交易信息汇总 截至2025年9月5日收盘，中国人保（601319）报收于8.39元，较上周的8.98元下跌6.57%。本周，中国 人保9月1日盘中最高价报8.95元。9月4日盘中最低价报8.27元。中国人保当前最新总市值3710.39亿元， 在保险板块市值排名3/6，在两市A股市值排名35/5152。 本周关注点 9月2日中国人保发生一笔1071.68万元的大宗交易。 公司公告汇总 中国 人民保险集团股份有限公司截至2025年8月31日的证券变动月报表显示，公司注册股本无变动。H 股和A股的上月底结存与本月底结存均分别为8,726,234,000股和35,497,756,583股，面值均为人民币1 元。已发行股份和库存股均无变化，H股和A股库存股数目为0。本月底注册股本总额为人民币 44,223,990,583元。股份期权、可转换票据等事项均不适用。公司确认本月证券发行符合相关法规要 求。 以上内容为证券之星据公开信息整理，由AI算法生成（网信算备310104345710301240019号），不构成 投资建议。 交易信息汇总：中国人保9月2日发生1071.68万元大宗交易。 公司公告汇总：中国人保H股和A股 ...