Core Viewpoint - The event organized by the Shandong branch of the People's Insurance Company aimed to enhance the awareness of integrity and self-discipline among party members and cadres through a visit to the Qilu Integrity Culture Exhibition Hall [1][5]. Group 1: Event Overview - The Shandong branch organized a visit for over 30 party members and cadres to the Qilu Integrity Culture Exhibition Hall on June 26 [1]. - The exhibition hall showcases the rich integrity culture of the Qilu region, highlighting the history and achievements of anti-corruption efforts through various multimedia and interactive displays [3]. Group 2: Educational Impact - The exhibition features six main halls that cover topics from national leaders' discussions on integrity to the integration of traditional Chinese culture and socialist values, emphasizing the importance of legal constraints and showcasing typical anti-corruption cases [3]. - Participants expressed that the visit served as a profound ideological cleansing and spiritual elevation, reinforcing their commitment to integrity and diligent work [5]. Group 3: Future Commitment - The event is part of the Shandong branch's efforts to implement the spirit of the Central Eight Regulations, aiming to instill integrity culture deeply within the organization [5]. - Party members pledged to uphold the principles of integrity and self-discipline, using the displayed integrity models as examples to resist corruption and contribute to the high-quality development of their unit [5].

Core Viewpoint - The insurance industry plays a crucial role in supporting the development of the private economy by providing diversified risk protection and funding solutions, which is essential for both economic growth and the industry's own development [1][3]. Group 1: Product Innovation - The insurance industry is actively innovating products to meet the diverse insurance needs of private enterprises, including customized products like "Employee Welfare Insurance" for SMEs and specialized insurance for various sectors such as automotive repair and catering [2][3]. - Insurance companies are developing a comprehensive product service system tailored to the characteristics of different industries within the private economy, addressing their unique insurance demands [2][3]. Group 2: Support for Technological Innovation - Private enterprises are key players in technological innovation, but they face complex risks that require tailored insurance solutions throughout their lifecycle [3][4]. - Insurance companies are establishing a risk protection system for technology enterprises, including specialized insurance for first-time technology equipment and new materials, as well as knowledge property risk assessment models [3][4]. Group 3: Financial Support - Insurance funds provide long-term and stable financial support to private enterprises through equity and bond investments, helping to alleviate financing difficulties [5][6]. - Several insurance companies have initiated large-scale funds to support private enterprises in various sectors, including technology and health care, with significant capital commitments [5][6]. Group 4: Collaboration and Policy Support - The insurance industry is enhancing collaboration with government and banking sectors to create a "government-bank-insurance" model, facilitating resource allocation to private enterprises [6]. - The financial regulatory authority is promoting policies to support financing for small and private enterprises, aiming to stabilize the economy and enhance the overall financial ecosystem [6].

I. 法定/註冊股本變動 | 1. 股份分類 | 普通股 | 股份類別 H | | | 於香港聯交所上市 (註1) | | 是 | | | --- | --- | --- | --- | --- | --- | --- | --- | --- | | 證券代號 (如上市) | 01339 | 說明 | | | | | | | | | | 法定/註冊股份數目 | | | 面值 | | 法定/註冊股本 | | | 上月底結存 | | | 8,726,234,000 | RMB | | 1 RMB | | 8,726,234,000 | | 增加 / 減少 (-) | | | 0 | | | RMB | | 0 | | 本月底結存 | | | 8,726,234,000 | RMB | | 1 RMB | | 8,726,234,000 | | 2. 股份分類 | 普通股 | 股份類別 | A | | | 於香港聯交所上市 (註1) | | 否 | | | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | | 證券代號 (如上市) | 60131 ...

Core Viewpoint - The article discusses the challenges and opportunities in the insurance of local specialty agricultural products, emphasizing the potential of catastrophe bonds as a solution to enhance risk management and financial sustainability in this sector [2][3][9]. Group 1: Challenges in Specialty Agricultural Insurance - The local specialty agricultural products industry is increasingly important for rural economic development and farmer income, but it faces significant risks due to climate change, with annual loss rates reaching 12%-15% [2]. - Traditional insurance models are struggling with high payout rates and low coverage, exemplified by Hebei Province's insurance payout rate of 97% in 2022, and certain products like soybean insurance reaching 172% [2][4]. - The unique risk attributes of specialty agricultural products include strong geographic dependence, high market sensitivity, and ecological vulnerability, leading to a national insurance participation rate of only 42% [4]. Group 2: Catastrophe Bonds as a Solution - Catastrophe bonds connect the insurance market with capital markets, offering a new approach to address the "cold supply and demand" issue in specialty agricultural insurance [3][5]. - The introduction of catastrophe bonds could reduce expected payouts for insurance companies by 20%-30%, potentially lowering pure premium rates by 15%-25% [5]. - The research focuses on optimizing risk dispersion efficiency through catastrophe bonds, analyzing different regional specialty industries, and exploring the synergy between policy support and capital markets [5][6]. Group 3: International Comparisons and Local Practices - International experiences from the U.S., Japan, and Canada provide valuable insights into agricultural catastrophe risk dispersion models, highlighting the importance of policy collaboration and innovative tools [6]. - Local case studies, such as the Ningxia goji berry and Sichuan wheat industries, demonstrate effective implementation of catastrophe bonds, significantly improving risk coverage and financial efficiency [8][9]. - The research indicates that catastrophe bonds can enhance fiscal subsidy efficiency by 40%-80% and reduce insurance company cost ratios by 20%-30% [9]. Group 4: Policy Recommendations - Recommendations include constructing a multi-layered risk dispersion system, improving risk dispersion mechanisms to lower insurance premiums, and promoting the application of catastrophe bonds [9]. - Emphasis is placed on institutional innovation and technological empowerment to enhance risk governance effectiveness, including establishing collaborative mechanisms between insurance and industry [9].

Financial Performance Highlights - The group's insurance revenue reached RMB 537709 million, a 67% increase compared to 2023[103, 104] - Net profit attributable to equity holders of the company increased by 888% to RMB 42151 million[20, 104] - Total investment income increased significantly by 862% to RMB 822 billion[41, 87] - The group's total assets increased by 135% to RMB 1766321 million[26, 104] - The annual cash dividend per share increased by 154% to RMB 0180[28] Segment Performance - PICC P&C's insurance revenue increased by 61% to RMB 485223 million[103, 104] - PICC Life's insurance revenue increased by 230% to RMB 22384 million[103, 104] - PICC Health's insurance revenue increased by 62% to RMB 27217 million[103, 104] Key Initiatives and Innovation - Green insurance provided risk protection of RMB 184 trillion[33, 53] - Technology insurance provided risk protection of RMB 31 trillion[33] - Premiums from products dedicated to technological activities increased by 180%[65]

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分內容 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。 1339 董事名單與其角色和職能 一、執行董事 丁向群 （董事長） 趙 鵬 （副董事長） 肖建友 二、非執行董事 王少群 喻 強 宋洪軍 三、獨立非執行董事 邵善波 徐麗娜 王鵬程 高平陽 - 1 - 四、董事會專業委員會 | | 委員會 | | 風險管理與 | | | | | --- | --- | --- | --- | --- | --- | --- | | | | 戰略與投資 | 消費者權益 | 審計 | 提名薪酬 | 關聯交易 | | 董事 | | 委員會 | 保護委員會 | 委員會 | 委員會 | 控制委員會 | | 丁向群 | | C | | | | | | 趙 鵬 | | | C | | | | | 肖建友 | | | | | | M | | 王少群 | | M | M | | | | | 喻 強 | | | | M | | M | | 宋洪軍 | | M | M | | | | | 邵 ...

同时，自本公告之日起，苗福生先生不再履行董事职责。苗福生 先生辞任详细信息请见本公司于 2025 年 3 月 27 日发布的《中国人民 保险集团股份有限公司关于非执行董事辞任的公告》。 特此公告。 中国人民保险集团股份有限公司董事会 2025 年 7 月 1 日 证券代码：601319 证券简称：中国人保 公告编号：临 2025-023 中国人民保险集团股份有限公司 关于非执行董事辞任的公告 本公司董事会及全体董事保证本公告内容不存在任何虚假记载、 误导性陈述或者重大遗漏，并对其内容的真实性、准确性和完整性承 担法律责任。 本公司董事会收到王清剑先生的辞呈。因年龄原因，王清剑先生 辞去本公司非执行董事、董事会战略与投资委员会委员、董事会审计 委员会委员职务。该辞任自 2025 年 7 月 1 日起生效。王清剑先生已 确认其与本公司董事会、管理层无不同意见，亦没有任何其他事项需 要通知本公司股东。 王清剑先生自 2017 年 7 月加入本公司董事会以来，恪尽职守， 勤勉履职，在本公司发展战略、公司治理、董事会运作、内部控制、 财务监督等方面做出了重要贡献。本公司董事会对王清剑先生在任职 期间做出的贡献表示衷心感 ...

Group 1 - The core viewpoint emphasizes the integration of high-quality party building with innovation development as a strategic choice for sustainable enterprise growth [1] - The company implements a "two quantification, two special personnel" mechanism to enhance grassroots party organization functions and ensure effective policy implementation [2] - The company focuses on the integration of party building and business operations, leveraging political guidance to support the construction of Beijing's "Four Centers" [3] Group 2 - The company prioritizes serving the people's welfare by ensuring that its insurance products and services address the urgent needs of the public [4] - The company has achieved significant growth in insurance coverage, with over 105 million people covered by new citizen exclusive products and risk protection exceeding 2.35 trillion yuan [5] - The company actively promotes disaster prevention and reduction through innovative insurance models and partnerships with local governments [6] Group 3 - The company is committed to enhancing the quality and effectiveness of party building to support the modernization of Beijing [7]

Group 1 - The core viewpoint emphasizes the importance of comprehensive risk protection in construction projects, highlighting the potential risks such as natural disasters, accidents, and third-party liabilities that can jeopardize significant investments [1][3]. Group 2 - The insurance product offered by Jinan PICC provides full coverage against natural disasters including earthquakes, floods, typhoons, and lightning strikes, ensuring quick damage assessment and high compensation to facilitate the resumption of construction [3]. - It covers accidental incidents during construction such as fires, explosions, mechanical failures, and falls, with the insurance covering losses, equipment damage, and personnel injuries [3]. - Third-party liabilities are also addressed, with the insurance covering legal compensation and litigation costs arising from construction-related accidents affecting surrounding properties or causing injuries [3]. Group 3 - The insurance includes professional equipment protection, ensuring that costs for repairs or replacements of large construction machinery and precision instruments due to accidents are covered, preventing delays in project progress [4]. Group 4 - The advantages of choosing Jinan PICC's construction all-risk insurance include a leading risk assessment team that customizes coverage plans, a rapid claims process with a response time of up to 24 hours, and extensive experience in servicing over a hundred landmark projects annually [5].

Investment Rating - The report maintains a "Recommended" rating for the insurance sector, indicating a positive outlook for the industry in the coming months [7]. Core Insights - The insurance industry has shown signs of recovery, with total premium income reaching 30,602 billion yuan from January to May 2025, reflecting a year-on-year increase of 3.8%. The premium income for May alone was 4,647 billion yuan, up 13.2% year-on-year [4]. - Life insurance continues to recover, with premium income of 18,735 billion yuan from January to May 2025, a 3.9% increase year-on-year. The premium income for May was particularly strong at 2,674 billion yuan, marking a 24.1% increase year-on-year [4]. - The health insurance sector experienced a slight decline in premium income, totaling 3,879 billion yuan from January to May 2025, a 0.9% increase year-on-year, with May showing a decrease of 6.3% [5]. - The property insurance sector saw premium income of 7,805 billion yuan from January to May 2025, a 5.2% increase year-on-year, with May's income at 1,319 billion yuan, up 5.3% [4]. - The report highlights the potential for life insurance products, particularly participating insurance, to gain market share due to their dual benefits of protection and investment returns, especially in a low-interest-rate environment [4][9]. - The automotive insurance segment benefited from increased vehicle sales, with premium income reaching 3,720 billion yuan, a 4.4% increase year-on-year, while non-auto insurance premiums were 4,085 billion yuan, up 6.0% [8]. Summary by Sections Life Insurance - Life insurance premium income from January to May 2025 was 18,735 billion yuan, up 3.9% year-on-year, with a significant increase in May of 24.1% [4]. - The demand for life insurance products is expected to recover due to the declining bank deposit rates, enhancing the attractiveness of long-term insurance products [4]. Health Insurance - Health insurance premium income was 3,879 billion yuan from January to May 2025, reflecting a modest growth of 0.9% year-on-year, with a notable decline in May [5]. - The report suggests that the health insurance sector is undergoing a transformation, with potential for growth in mid-to-high-end medical insurance products [5]. Property Insurance - Property insurance premium income reached 7,805 billion yuan from January to May 2025, a 5.2% increase year-on-year, with steady growth in both auto and non-auto segments [4][8]. - The report anticipates a continued focus on professionalization and refinement in the property insurance sector, particularly among leading companies [9]. Investment Opportunities - The report suggests that the insurance sector is poised for growth, with a focus on improving product structures and increasing the share of participating insurance products [9]. - The macroeconomic recovery is expected to support long-term interest rates, which could positively impact the insurance sector's performance [9].