国信证券认为，行业深化负债端渠道、产品、成本等领域的转型，产品转型及渠道质态得到显著改善。 资产端方面，预计险资资产配置需求仍高，对应长债及高分红类资产配置行情或将延续，建议关注商业 模式具备"护城河"优势的中国财险，及估值相对偏低的中国平安、中国太保。 智通财经APP获悉，内险股集体上扬，截至发稿，新华保险(01336)涨3.04%，报43.4港元；中国人保 (01339)涨2.84%，报6.51港元；中国太保(02601)涨2.34%，报30.64港元；中国人寿(02628)涨0.66%，报 21.4港元。 华西证券指出，负债端，寿险预定利率持续压降、渠道推进报行合一降低负债成本，有望推动上市险企 2025年全年NBV实现稳健增长；财险持续推进渠道报行合一及费用精细化管理，承保利润有望继续改 善。资产端，保险资金规模快速增长，在"慢牛"行情与中长期入市政策推动下，险企投资收益有望继续 改善。 ...

Core Viewpoint - The insurance sector experienced a notable increase on September 25, with major companies such as China Life, New China Life, and China Pacific Insurance rising over 1% [1] Company Summary - China Life saw a significant rise in its stock price, contributing to the overall positive trend in the insurance sector [1] - New China Life also reported an increase in its stock value, aligning with the upward movement in the industry [1] - China Pacific Insurance's stock rose by more than 1%, reflecting investor confidence in the company [1] - China Insurance and Ping An Insurance followed suit, also showing gains in their stock prices [1]

Core Viewpoint - The pet insurance market is experiencing significant growth, with varying attitudes among different insurance companies towards this expanding sector [1] Industry Overview - Out of 89 property insurance companies, 59 are involved in pet insurance products, indicating a strong interest in this market segment [1] - Approximately 33 property insurance companies offer pet medical insurance, representing nearly 40% of the total property insurers, with 132 pet medical insurance products launched, of which around 90 are currently available for sale [1] Company Strategies - ZhongAn Online, an internet-based insurance company, is highlighted as a proactive player in the pet insurance market [1] - Major insurance companies such as People’s Insurance, Ping An, and Taikang, along with smaller firms like Cathay Insurance, JD Allianz, and Taikang Online, are actively developing related business [1] - However, over 50 property insurance companies have not yet launched any pet medical insurance products, and some companies that initially entered the market have since withdrawn their offerings [1]

9月,为深入贯彻落实监管及总公司"金融教育宣传周"活动要求,践行以人民为中心的价值取向,中国太保 产险青岛分公司围绕群众关心关注的内容,着力构建全方位、立体化金融知识普及网络,以实际行动推动 金融知识和风险提示深入基层、直达群众。 记者 尚青龙 实习生 宋雨轩 青岛报道 司助农惠农教育宣传片,讲述花生收入保险通过一畦一垄的守护,让广大农户敢种、能收、心安的"金融为 民"暖心故事。 县域机构因地制宜打造一批"近邻党建+金融教育"网格化阵地,重点聚焦县域基层,广泛联动属地行政机 关、企事业单位、村委社区等开展党建联建,依托党群服务站、基层网点、村镇服务点等开展下沉式金 融教育活动,组织党员进社区开展"双报到"志愿服务,形成各具特色的"金融消保+社会工作+志愿服务"模 式,推动金融教育与基层治理相融相促。 组建先锋宣讲团 融入经营强化"三适当" 为深入构建"消保关口前移"新格局,活动期间,中国太保产险青岛分公司重点围绕规范营销行为,强化适当 性管理方面政策开展教育宣传。选拔一批专业能力强、综合素质高的骨干成员,组建一支先锋宣讲团,对 内通过开展《金融机构产品适当性管理办法》解读专题培训、案例研讨等方式,推动压实适当 ...

Core Viewpoint - The article emphasizes the importance of financial education and consumer protection in the financial industry, highlighting various initiatives undertaken by China Pacific Insurance (China Taibao) to enhance public financial literacy and safeguard consumer rights [1][12][33]. Group 1: Financial Education Initiatives - From September 15 to 21, the Financial Regulatory Bureau, People's Bank of China, and China Securities Regulatory Commission jointly launched the 2025 Financial Education Promotion Week, with China Taibao's chairman representing the insurance industry [1]. - China Taibao actively organized various industry activities under the guidance of local regulatory authorities, creating a unified promotional atmosphere [2]. - In Beijing, China Taibao collaborated with Beijing University of Commerce and the Anti-Fraud Center to conduct financial safety education in schools, establishing a regular educational platform [4]. - In Henan, China Taibao led a financial education week event, utilizing multimedia platforms to enhance financial knowledge dissemination [6]. - In Shanxi, China Taibao Life Insurance organized a financial education campaign with 54 industry peers, integrating intangible cultural heritage to attract public interest [8]. Group 2: Community Engagement and Service - China Taibao launched the "KOL Star Plan" to engage influencers in promoting financial education through creative short videos on platforms like Douyin [10]. - The company initiated a series of "practical service for the people" campaigns focusing on areas such as elderly care, inclusive insurance, and disaster prevention [12]. - In Xinjiang, a bilingual financial promotion team was formed to deliver financial knowledge directly to the local pastoral community [20]. - In Shenzhen, China Taibao established a neighborhood consumer protection service station to provide financial education and services directly to residents [20]. Group 3: Innovative Educational Approaches - China Taibao introduced interactive short dramas to educate the public about illegal insurance practices, enhancing awareness of consumer rights [26]. - The company utilized various public transport mediums for financial education outreach, ensuring that financial knowledge reaches commuters and community members [27]. - In Shanghai, a combination of scene-based services and musical performances was used to engage the public in financial education activities [30]. - The company produced a series of animated videos to simplify financial product selection and risk identification for consumers [33].

Core Insights - The new business value of listed life insurance companies in China saw a significant increase of 31.3% in the first half of 2025, with all but one company achieving double-digit growth [1][24][26]. New Business Value - In the first half of 2025, the new business value for listed life insurance companies totaled 933 billion yuan, with notable growth from major players such as China Life (285 billion yuan, +20.3%) and Ping An Life (223 billion yuan, +39.8%) [24][25]. - The overall new business value rate for the industry increased by 6.7 percentage points, reaching a weighted average of 27.8% [30][34]. New Single Premiums - The total new single premium income for listed life insurance companies in the first half of 2025 was 5,227 billion yuan, reflecting a year-on-year growth of 7.8% [38]. - However, the agent channel saw a decline of 13.8% in new single premiums, while the bancassurance channel experienced a robust growth of 61.1% [8][16][40]. Factors Influencing Growth - The increase in new business value and value rate is attributed to the adjustment of preset interest rates and the implementation of cost control policies under the "reporting and operation integration" framework [4][14][34]. - The shift from guaranteed products to floating yield products has increased sales difficulty, impacting the attractiveness of insurance products [6][47]. Agent Channel Performance - The number of agents decreased by 2.9% to 1.605 million, with average productivity dropping by 11.3% to 139,000 yuan per agent [51][55]. - Despite the decline in agent numbers, the overall industry is showing resilience through the growth in the bancassurance channel, which compensates for the downturn in the agent channel [64].

南方财经见习记者 王达毓 广州报道 9月24日，台风"桦加沙"横扫华南地区，给广东沿海城市和港澳等地造成较大影响。理赔全线铺开，保 险业又迎来一次巨灾大考。 同日，在联合国气候变化峰会上，中国宣布新一轮国家自主贡献，基本建成"气候适应型社会"的目标成 为关注焦点之一。 在这一日益完善的风险共担机制下，如何提升险企自身风险管理能力、推动风险关口前移，已成为各大 险企数字化转型升级的重点方向。 而随着"AI+"时代的到来，人工智能体的快速发展为保险业和资产管理打开了新的想象空间。未来保险 业能否借助行业通用大风险模型（LRM）赋能保险业实现风险减量管理，进一步让风险可见、可算、 可控、可料，进一步发挥风险管理功能，赋能气候适应型社会建设，也成为行业亟待探索和突破的关键 课题。 气候风险频发，对经济社会和保险业的冲击日益加剧。 目前，台风"桦加沙"造成的经济损失尚在统计中，但以2024年9月登陆的超强台风"摩羯"为例，其是中 国2024年受影响最严重的自然灾害之一，也是自1949年以来登陆我国的最强秋台风，造成直接经济损失 近800亿元。保险业累计赔付及预赔付金额约42亿元。 瑞再研究院中国区首席经济学家戴鑫向记者 ...

（文章来源：证券日报） 证券日报网讯宏力达9月24日在互动平台回答投资者提问时表示，公司有少量中标中国太平洋保险（集 团）股份有限公司项目，金额较小，对公司经营无重大影响。 ...

Group 1 - The core viewpoint of the articles highlights the rapid development of the low-altitude economy and its increasing demand for insurance services, particularly in the context of drone inspections and urban governance [1][2] - China Pacific Insurance has successfully launched its first "low-altitude economy drone inspection platform insurance," tailored for a specific client, addressing risks associated with drone operations from a platform perspective [1] - The insurance product focuses on covering third-party personal injury and property damage caused by platform system failures, algorithm defects, and software vulnerabilities, thus enhancing safety in urban drone operations [1] Group 2 - China Pacific Insurance's Zhejiang branch is actively promoting low-altitude economy as a strategic innovation area, with plans to introduce an aviation medical rescue insurance product in 2024, providing over 4 million yuan in risk coverage [2] - The company has been proactive in the low-altitude economy sector since 2014, developing drone insurance products and participating in risk management and industry standard-setting [2] - A three-year strategic plan for drone business development was released in October 2024, outlining key development indicators, four major tasks, and three special plans to enhance the insurance supply chain for the low-altitude economy [2]

Core Viewpoint - The insurance industry is experiencing a significant recovery in new business value, with a year-on-year increase of 31.3% in the first half of 2025, driven by both volume and price growth across various companies [1][16][18]. Summary by Sections New Business Value - In the first half of 2025, all listed life insurance companies, except for CITIC Prudential, achieved double-digit growth in new business value, with the overall industry growth rate reaching 31.3% [1][16]. - The new business value for major companies includes China Life at 28.5 billion yuan (20.3% increase), Ping An Life at 22.3 billion yuan (39.8% increase), and others showing significant growth rates [18]. New Business Value Rate - The new business value rate for most listed life insurance companies increased significantly, with an overall rise of 6.7 percentage points in the first half of 2025 [3][22]. - Notable increases in new business value rates include Ping An Life at 26.1% (up 8.8 percentage points) and China Life at 32.4% (up 9.2 percentage points) [22][24]. New Policy Premiums - The overall new policy premium for listed life insurance companies reached 522.7 billion yuan, reflecting a year-on-year growth of 7.8% [28]. - However, there was a notable decline in new policy premiums from the agent channel, which dropped by 13.8%, while the bank insurance channel saw a substantial increase of 61.1% [31][39]. Market Dynamics - The insurance sector is transitioning from a "volume and price decline" phase (2018-2022) to a "volume and price increase" phase in 2025, indicating a healthier growth trajectory [48][51]. - The shift in market dynamics is attributed to the effectiveness of the "reporting and operation integration" policy and the adjustment of premium rates, which have improved the new business value rates significantly [40][41]. Agent Channel and Bank Insurance Channel - The agent channel is facing challenges with a decline in the number of agents and average productivity, while the bank insurance channel is experiencing robust growth, indicating a shift in sales strategy [42][39]. - The average productivity of agents decreased by 11.3%, highlighting the ongoing transformation within the agent channel [46]. Conclusion - The insurance industry is showing resilience and adaptability, with a clear trend towards high-quality development characterized by simultaneous growth in new business value and premiums, driven by strategic channel shifts and improved operational efficiencies [51][52].