中国经济网北京1月14日讯 国家金融监督管理总局网站昨日公布的驻马店监管分局行政处罚信息公示表 （驻金罚决字〔2025〕77-79号）显示，中国人民财产保险股份有限公司驻马店市分公司存在四项违法 违规行为，一是农险理赔平均赔付；二是虚列车险与农险费用；三是虚挂中介套取费用；四是保险宣传 销售违反监管规定。 | 序 | 宗事人 | 行政处罚 | 主要违法违规 | 行政处 | 作出决 | | --- | --- | --- | --- | --- | --- | | 름 | 名称 | 决定书文 | 行为 | 罚内容 | 定机关 | | | | 름 | | | | | 1 | 中国人 民财产 | 字 | 农险理赔平均 赔付;虚列车 | 处罚款 | | | | | 驻金罚决 | | 警告并 | | | | 保险股 | | 险与农险费 | | | | | 份有限 | | 用:虚挂中介 | | | | | | (2025) | | 52.4万 | | | | 公司驻 | 77号 | 套取费用;保 | 元 | | | | 马店市 | | 险宣传销售违 | | | | | 分公司 | | 反监管规定 | | | | | 赵春 ...

2026年伊始，保险机构"瘦身"持续。1月8日，金融监管总局洛阳监管分局发布批复通知，同意撤销 中国人民财产保险股份有限公司洛阳市开发支公司。这并非个例，1月以来，中国人寿、太平人寿、阳 光人寿、大地财险、中信保诚人寿、英大泰和人寿等近10家保险公司的分支机构也相继获批退出市场。 开年这一波分支机构集中撤销并非偶然事件，而是近几年保险业分支机构"瘦身"的延续。业内人士 认为，这场以"去冗余、提效能"为核心的渠道变革，正深刻改变保险业线下布局生态，推动行业从粗放 式广域覆盖转向精准布局与价值深耕。 6年超1.3万家分支机构撤销 近6年来，保险公司分支机构合计退出数量超过1.3万家，从快速递增到高位调整，再到重新提速， 演化脉络清晰可见。行业统计数据显示，2020年至2022年，退出市场的险企分支机构分别为971家、 2197家、3019家，呈现持续增长的态势。2023年和2024年期间，退出市场的险企分支机构数量分别回落 至2065家和1984家，清退节奏从规模化推进转向精细化筛选。2025年，退出市场的险企分支机构再次攀 升至3100余家，创下近6年来新高。 技术迭代带来的渠道替代效应，则从根本上弱化了基层网 ...

Core Viewpoint - The Hong Kong insurance stocks are showing strong performance, with notable increases in share prices for major companies in the sector [1] Company Performance - China Ping An (02318.HK) increased by 2.85%, reaching HKD 70.45 [1] - China Pacific Insurance (02328.HK) rose by 2.52%, reaching HKD 16.66 [1] - China Life Insurance (02628.HK) saw a rise of 2.32%, with shares priced at HKD 32.62 [1] - New China Life Insurance (01336.HK) increased by 2.14%, with shares at HKD 62.15 [1]

Core Viewpoint - The strong performance of insurance stocks is driven by better-than-expected data for the 2026 New Year sales, with leading insurance companies showing significant growth in new policies [1] Group 1: Stock Performance - China Ping An (601318) rose by 2.85% to HKD 70.45 [1] - China Pacific Insurance (02328) increased by 2.52% to HKD 16.66 [1] - China Life (601628) saw a rise of 2.32% to HKD 32.62 [1] - New China Life (601336) grew by 2.14% to HKD 62.15 [1] Group 2: Market Drivers - Huaxi Securities reported that the strong performance in new policy sales during the 2026 New Year period, with some leading insurers showing over 70% year-on-year growth in new policies, is a direct catalyst for the current rise in insurance stocks [1] - The low base from the previous year contributes to the strong momentum observed in the leading insurance companies this year [1] Group 3: Investment Trends - Insurance products are expected to attract part of the funds from savings due to their relative yield advantages [1] - Concerns regarding interest margin losses have significantly eased, leading to a gradual elimination of valuation pressures on the sector [1] Group 4: Future Projections - Guojin Securities anticipates that the shift of bank insurance will drive high growth in new policies and new business value (NBV) in 2026 [1] - Since 2020, residents have increased their precautionary savings, with new deposits consistently exceeding CNY 10 trillion, particularly in 2021, 2023, and 2024, with new deposits of CNY 9.9 trillion, CNY 16.67 trillion, and CNY 14.26 trillion respectively [1] - A significant portion of these high-interest deposits is expected to mature in 2026, with a potential shift of funds towards insurance products amid declining deposit rates and a shortage of medium to long-term deposit supply [1]

Core Viewpoint - The strong performance of Chinese insurance stocks is driven by better-than-expected data for the 2026 New Year sales, with leading insurers showing significant growth in new policies [1] Group 1: Stock Performance - China Ping An (02318) increased by 2.85%, reaching HKD 70.45 [1] - China Pacific Insurance (02328) rose by 2.52%, reaching HKD 16.66 [1] - China Life Insurance (02628) gained 2.32%, reaching HKD 32.62 [1] - New China Life Insurance (01336) increased by 2.14%, reaching HKD 62.15 [1] Group 2: Market Drivers - Huaxi Securities reported that leading insurers saw a more than 70% year-on-year increase in new policy sales over the first three days of 2026, supported by a low base from the previous year [1] - The insurance sector is expected to attract part of the funds from savings due to the relative yield advantage of insurance products [1] - Concerns over interest margin losses have eased, gradually eliminating valuation pressures on the sector [1] Group 3: Future Growth Potential - Guojin Securities indicated that the shift of bank insurance is expected to drive high growth in new policies and new business value (NBV) in 2026 [1] - Since 2020, household savings have increased significantly, with new deposits consistently exceeding CNY 10 trillion, including CNY 9.9 trillion in 2021, CNY 16.67 trillion in 2023, and CNY 14.26 trillion in 2024 [1] - A significant portion of these early high-interest deposits is expected to mature in 2026, with two-thirds of 2/3/5-year deposits likely to shift towards insurance investments amid declining deposit rates and a shortage of medium to long-term deposit supply [1]

2008年汶川发生特大地震，侯志荣被灾难中的生命呼唤与八方驰援的场景深深震撼，毅然报名献血。十八年来，他累计献 血23次，按每次抢救用血400毫升计算，已为超过20人带去生的希望。2025年12月，侯志荣获得国家卫生健康委员会、中国 红十字会总会、中央军委后勤保障部卫生局联合颁发的"无偿献血奉献金奖"，这份荣誉既是对他作为一名共产党员奉献与 担当的肯定，更彰显了人保财险志愿者践行"人民保险 服务人民"的如磐初心。 人保财险四川阿坝分公司志愿者侯志荣领取"无偿献血奉献金奖" 远在贵州省铜仁市思南县的人保财险青年志愿者熊东，接过这份爱心接力棒。几年前参加公益献血时，熊东得知造血干细 胞捐献能为血液病患者带去重生希望，他当场采集血样加入中华骨髓库，这一等就是数年。2025年底，一通来自红十字会 的电话让他既惊喜又坚定——他的造血干细胞与一名患者高分辨配型成功，而这种非血缘配型的概率仅有二十万分之一。 为了以最佳状态完成捐献，熊东提前调整生活节奏，规律作息、坚持锻炼，连续5天注射动员剂后，在病床上经历4个多小 时的采集，成功捐献228毫升造血干细胞混悬液。"感觉送出了最珍贵的'生命保单'！"术后回归岗位的熊东笑着说， ...

中国人保 中国平安 中国人民保险 集团 中国财险 众安在线 分时图 日K线 周K线 月K线 9.80 -0.04 -0.41% 1.42% 0.91% 0.51% 0.00% 0.51% 0.91% 1.42% 9.70 9.75 9.79 9.84 9.89 9.93 9.98 09:30 10:30 11:30/13:00 14:00 15:00 0 60万 120万 180万 南方财经全媒体记者 林汉垚 过去十年，我国非车险业务年均增速超10%，保费占比已超50%，但繁荣背后是"高费用换规模"的虚 火。长期以来，非理性竞争、内卷式发展导致非车险业务出现费用水平过高、保费充足度不够、持续承 保亏损、应收保费居高不下等问题。 针对非车险领域的非理性竞争、费用失真及承保亏损等顽疾，国家金融监管总局继发布《关于加强非车 险业务监管有关事项的通知》（以下简称《通知》）、《加强非车险业务监管有关工作指引》（以下简 称《指引》）后，近日再发《非车险综合治理有关问答(一)》（以下简称《问答》），对"见费出单"、 手续费管理、特殊业务安排及公司分类监管等十余项市场关切作出明确回应。 记者了解到，人保财险、平安产险（平安财 ...

Core Insights - The non-auto insurance sector in China has experienced an average annual growth rate exceeding 10% over the past decade, with premiums now accounting for over 50% of total insurance premiums, but this growth has been driven by high costs rather than sustainable practices [1][2] - The National Financial Regulatory Administration has issued several guidelines to address irrational competition and high costs in the non-auto insurance sector, aiming to shift the focus from price wars to risk pricing and service capabilities [1][4][9] Industry Growth and Trends - Non-auto insurance premiums have grown at an average annual rate of 14.4% from 2014 to 2024, significantly outpacing the 5.2% growth rate of auto insurance [2] - By mid-2025, the total insurance premium income in the property insurance industry is projected to reach 965.4 billion yuan, with non-auto insurance contributing 514.9 billion yuan, surpassing 50% of the total [2] Regulatory Changes - The recent regulatory measures include the "reporting and operation unity" policy, which mandates that insurance companies adhere strictly to approved insurance terms and rates, aiming to eliminate high fees that do not correspond to services provided [3][4][6] - The new regulations are expected to compress some business operations in the short term but will ultimately reshape the competitive landscape by emphasizing risk assessment and service quality [9][10] Company Responses - Major insurance companies like PICC, Ping An, and Taikang have begun to implement changes in response to the new regulations, focusing on compliance and optimizing their cost structures [5][7][8] - Companies are restructuring their business models to transition from fee-based competition to risk pricing and service capability enhancement [7][10] Market Dynamics - The regulatory changes are anticipated to accelerate industry differentiation, with larger firms solidifying their competitive advantages while smaller firms may struggle to adapt [15][16] - The new policies may lead to a concentration of market power among larger firms, but they also provide a buffer for smaller companies to transition and innovate within niche markets [16][17] Future Outlook - The shift towards a more regulated and quality-focused market is expected to enhance the sustainability of the non-auto insurance sector, fostering a competitive environment based on risk management and service excellence [10][12] - Smaller companies are encouraged to focus on specialized markets and innovative products to establish competitive advantages, rather than competing directly with larger firms [17][18]

丨证券研究报告丨 行业研究丨行业周报丨投资银行业与经纪业 [Table_Title] 政策持续净化资本市场生态，建议重视板块业绩 高增长预期 报告要点 [Table_Summary] 本周非银板块整体表现较强。券商方面，本周市场交投有所提升，整体仍然维持历史高位，持 续看好板块后续业绩；保险方面，中长期来看三季报以来印证了存款搬家、增配权益和新单成 本改善逻辑，中长期 ROE 改善确定性进一步提升，估值有望加速修复，结合中长期拐点向上 的判断，我们认为整体配置性价比正逐步提高，板块重估进行时。 分析师及联系人 [Table_Author] SFC：BUV596 吴一凡 谢宇尘 程泽宇 SAC：S0490519080007 SAC：S0490521020001 SAC：S0490524090001 请阅读最后评级说明和重要声明 %% %% %% %% research.95579.com 1 投资银行业与经纪业 cjzqdt11111 [Table_T 政策持续净化资本市场生态，建议重视板块业 itle2] 绩高增长预期 [Table_Summary2] 核心观点 1）本周非银板块整体表现较强。券商方面，本周市 ...

Core Viewpoint - The China People's Property Insurance Company, Haidong Branch, faced administrative penalties due to inadequate execution of internal control systems, resulting in a warning and a fine of 10,000 yuan [1][2]. Summary by Relevant Categories Administrative Penalties - The Haidong Financial Regulatory Bureau issued a warning and a fine of 10,000 yuan to the China People's Property Insurance Company, Haidong Branch, for failing to properly implement internal control systems [1][2]. Individual Sanctions - Han Tao, former team leader of the social medical insurance service department, was banned from the insurance industry for 15 years [1][2]. - Zhang Lingjun, former team leader of the social security claims department, was also banned from the insurance industry for 15 years [1][2]. - Wang Xin, former auxiliary staff member, received a 15-year ban from the insurance industry [1][2]. - Min Xiaorong, former general manager of the Haidong Branch, received a warning and a fine of 10,000 yuan [1][2]. - Bai Zhixiang, former deputy general manager, received a warning and a fine of 10,000 yuan [1][2]. - Du Daqing, former assistant to the general manager, received a warning and a fine of 10,000 yuan [1][2]. - Wang Xiangang, former assistant to the general manager, received a warning and a fine of 10,000 yuan [1][2]. - Ma Jizong, former manager of the health insurance department, received a warning and a fine of 10,000 yuan [1][2].