Core Viewpoint - The insurance sector in China is experiencing a collective rise in stock prices, driven by positive forecasts for premium income and total assets in the coming years [1] Group 1: Stock Performance - Chinese insurance stocks have collectively risen, with China Pacific Insurance up 4.38% to HKD 25.76, China Life Insurance up 3.22% to HKD 34.58, Ping An Insurance up 2.45% to HKD 72.45, and China Taiping Insurance up 2.14% to HKD 39.18 [1] Group 2: Industry Forecast - According to the National Financial Regulatory Administration, the original insurance premium income for the insurance industry is expected to reach approximately CNY 6.12 trillion by 2025, representing a year-on-year growth of 7.43% [1] - Property insurance premium income is projected to be around CNY 1.47 trillion, while life insurance premium income is expected to be about CNY 4.65 trillion [1] - By the end of 2025, the total assets of the insurance industry are anticipated to be approximately CNY 41.32 trillion, reflecting a growth of 15.06% compared to the end of 2024 [1] Group 3: Strategic Investment Insights - CITIC Securities believes that the expansion of strategic investor types by the CSRC will benefit insurance capital as a major patient capital player, leading to a win-win situation for the capital market, listed companies, and investors [1] - The firm maintains that the insurance sector is in a significant opportunity period [1] Group 4: Market Trends - Dongwu Securities forecasts a strong performance for listed insurance companies in the 2026 New Year, with the ongoing trend of "deposit migration" continuing [1] - The attractiveness of insurance products remains significant as their preset interest rates are still higher than bank deposits, leading to optimistic expectations for new premium growth throughout the year [1] - It is anticipated that the proportion of participating insurance in new policies will further increase, benefiting the liability costs of insurance companies [1]

2月3日金融一线消息，由新浪财经主办的"2025新浪金麒麟保险行业评选"结果今日正式揭晓！经过多领 域、多视角的综合评估，一批杰出的保险公司和机构脱颖而出，斩获殊荣。 友邦人寿获评"年度卓越品牌保险公司" 中邮保险获评"年度社会责任保险公司" 集团奖项 中国人寿获评"年度卓越保险集团" 中国平安获评"年度最具品牌价值保险集团" 中国太保获评"年度最具社会责任保险集团" 公司奖项 中国人寿寿险获评"年度卓越寿险公司" 人保寿险获评"年度卓杰出寿险公司" 平安产险获评"年度卓越财产险公司" 新华养老保险获评"年度卓越成长保险公司" 水滴保获评"年度卓越保险中介机构" 大童保险服务获评"年度卓越保险中介机构" 车车科技获评"年度卓越保险科技公司" 元保获评"年度卓越保险科技公司" 业务奖项 太平人寿获评"年度卓越消保奖" 交银人寿获评"年度卓越消保奖" 中国人寿寿险获评"年度卓越ESG实践奖" 人保财险获评"年度卓越ESG实践奖" 建信人寿获评"年度卓越数字化服务奖" 信美相互获评"年度卓越数字化服务奖" 招商信诺获评"年度优秀服务奖" 瑞华保险获评"年度优秀服务奖" 太保寿险获评"年度卓越康养服务奖" 大家人寿获 ...

| 序 | 当事人名称 | 主要违法违规行为 | 行政处罚内容 | 作出决定 | | --- | --- | --- | --- | --- | | 름 | | | | 机关 | | | 中国太平洋人 | | 对中国太平洋人寿保 | 监管局 | | | 寿保险股份有 | | 险股份有限公司吉林 | | | | 限公司吉林省 | | 省分公司罚款40万 | | | | 分公司及相关 | 财务数据不真实, | 元,对中国太平洋人 | | | 1 | 责任人、中国 | 销售人员擅自印制 | 寿保险股份有限公司 | 吉林金融 | | | 太平洋人寿保 | 产品宣传材料中包 | 长春中心支公司警告 | | | | 险股份有限公 | 含误导宣传内容、 | 并合计罚款2万元。 | | | | 司长春中心支 | 销售人员通过朋友 | 对李元华、张琳、襟 | | | | 公司及相关责 | 圈进行不实宣传 | 长有、宋艳红、孙桂 | | | | 任人 | | 华、姜亚茹警告并罚 | | | | | | 款共计14.5万元。 | | 同时，相关责任人李元华、张琳、禚长有、宋艳红、孙桂华、姜亚茹被警告并被罚款共计14.5万元。 1月 ...

Core Insights - The insurance industry in China achieved a total premium income of 6.12 trillion yuan in 2025, marking a year-on-year growth of 7.43% [3] - By the end of 2025, the total assets of the insurance industry reached 41.31 trillion yuan, an increase of 15.06% from the beginning of the year [2] Group 1: Premium Income and Growth - The insurance industry experienced a significant recovery in premium income, with a total of 6.12 trillion yuan in 2025, up 7.43% year-on-year [3] - Life insurance premiums contributed notably, with a total of 4.65 trillion yuan, reflecting a growth of 9.05% [3] - Health insurance premiums approached the 1 trillion yuan mark, with a total of 997.3 billion yuan, growing by 2.04% [3] Group 2: Asset Growth - The total assets of the insurance industry surpassed 41 trillion yuan, reaching 41.31 trillion yuan by the end of 2025, an increase of 5.4 trillion yuan from 35.91 trillion yuan at the beginning of the year [2] - The insurance asset management scale also grew, with the investment balance exceeding 37 trillion yuan by the end of September 2025 [2] Group 3: Performance of Different Insurance Segments - Property insurance premiums totaled 1.76 trillion yuan, with a growth rate of 3.92%, indicating a slowdown compared to previous years [5] - Within property insurance, auto insurance premiums were 940.9 billion yuan, growing by 2.98%, while its market share continued to decline [6] - Non-auto insurance premiums saw a growth of 5%, with significant increases in agricultural insurance (4.78%) and health insurance (11.31%) [6] Group 4: Distribution Channels and Future Outlook - The bancassurance channel was a major driver for life insurance premium growth, with some companies reporting over 40% growth in this segment [3][4] - Analysts expect a strong performance for listed insurance companies in 2026, driven by ongoing trends in deposit migration and attractive insurance product rates compared to bank deposits [4]

进入2月，新一期券商金股名单陆续出炉，主要集中在电子、机械设备、有色金属等行业。个股方面， 海光信息、腾讯控股、中国太保、 紫金矿业 的人气最高。 展望2月，券商普遍认为，春季行情趋势仍在延续，春节之前市场可能震荡，科技成长、顺周期板块受 到青睐。还有券商建议，投资者在春节持股过节。 1月最牛金股大涨近99% 回顾1月金股表现，1月涨幅居前的金股集中在计算机、电子、化工、电力设备、有色金属等板块。 每市APP显示，由华龙整体推荐的卓易信息涨幅高达98.94%，成为1月最牛金股。排名第二的是由国联 民生证券推荐的宏景科技，单月涨幅达68.75%，国新证券推荐的盛晖集成则排名第三，1月上涨了 61.59%。 1月份涨幅超50%的还包括华峰测控（太平洋证券推荐）、华虹半导体（兴业证券推荐）、金安国纪 （东莞证券推荐）、东方铁塔（西部证券推荐）、迈为股份（东吴证券、华源证券推荐）等等。此 外，紫金黄金国际（东北证券推荐）、华锡有色（西南证券推荐）、兆易创新（中航证券、中国银河 证券推荐）1月涨超45%。 券商金股组合也在1月展现了亮眼的超额收益能力。每市APP数据显示，共有11家券商金股组合在1月涨 超10%，显著跑 ...

作为券商月度策略的精华，券商金股在1月份展现了亮眼的超额收益能力，最牛金股单月大涨约99%。 进入2月，新一期券商金股名单陆续出炉，主要集中在电子、机械设备、有色金属等行业。个股方面，海光信息、腾讯控股、中国太保、紫金矿业的人气最 高。 展望2月，券商普遍认为，春季行情趋势仍在延续，春节之前市场可能震荡，科技成长、顺周期板块受到青睐。还有券商建议，投资者在春节持股过节。 1月最牛金股大涨近99% 回顾1月金股表现，1月涨幅居前的金股集中在计算机、电子、化工、电力设备、有色金属等板块。 每市APP显示，由华龙整体推荐的卓易信息涨幅高达98.94%，成为1月最牛金股。排名第二的是由国联民生证券推荐的宏景科技，单月涨幅达68.75%，国新 证券推荐的盛晖集成则排名第三，1月上涨了61.59%。 1月份涨幅超50%的还包括华峰测控（太平洋证券推荐）、华虹半导体（兴业证券推荐）、金安国纪（东莞证券推荐）、东方铁塔（西部证券推荐）、迈为 股份（东吴证券、华源证券推荐）等等。此外，紫金黄金国际（东北证券推荐）、华锡有色（西南证券推荐）、兆易创新（中航证券、中国银河证券推 荐）1月涨超45%。 券商金股组合也在1月展现了亮眼 ...

本报记者 周尚伃 从推荐频次看，2月份，紫金矿业、万华化学、中国太保均获3家券商推荐；中际旭创、北新建材、兆易创新、中国中免等 个股获2家券商推荐。其中，推荐紫金矿业的券商有华泰证券、中国银河、光大证券，推荐万华化学的券商有中泰证券、光大 证券、太平洋证券，推荐中国太保的券商有中泰证券、太平洋证券和平安证券。 值得关注的是，浙商证券将紫金矿业选定为2026年行业年度金股。对此，浙商证券金属行业负责人沈皓俊表示，紫金矿业 是全球黄金与铜资源龙头企业。多重因素影响下，去年以来，金铜价格迎来主升浪，受益于巨龙铜矿等持续投产增量，该公司 有望实现量价齐升，叠加锂价筑底反弹，第三成长曲线有望持续贡献增量，推动业绩增长，当前估值水平处于行业低位。 对于2月份A股市场的整体走势，券商分析师普遍持审慎乐观态度。中国银河证券策略首席分析师杨超认为，春节前流动性 仍相对充裕，市场可能迎来核心做多期。预计2月上旬至春节前，市场资金仍将在科技和有色等板块加速轮动，业绩亮眼的标 的将成为焦点。 中信证券首席A股策略分析师裘翔表示，站在A股视角，从资源热到周期热，涨价线索的全面演绎可能贯穿2026年一季 度。周期板块的底层共性是利润率修 ...

2026.02. 01 "Corgi的风险定价不再依赖年度的精算假设，而是基于客户实时行为与外部风险信号的动态调整； 利润的来源不再依靠扩大保费规模，而是通过对新兴风险，如AI责任、网络安全等的认知优势来获得 风险溢价，规模扩张不再显著推高成本。"魏骄华称。太保科技在上述报告中表示，这种新模式能带 来显著的运营成本节约和效率提升，并通过精准的个性化服务和风险定价，实现了客户满意度和盈利 能力的进步，预示着保险行业一个全新时代的到来。 除了AI原生分支机构试点，傅帆还明确了另外两个层次的AI改革：其一，重塑风险管理的前瞻性和主 动性，借助AI智能风控，在科技创新、绿色发展、普惠民生和养老健康等领域实现有效风险减量，推 动保险从事后补偿者向事前风控、事中减量转型；其二，重塑服务体验的温度和精准度，利用AI深度 数据挖掘能力，开发以客户需求为导向的个性化保障，通过自动化处理，让秒级定损、瞬间服务成为 常态。 傅帆同时强调，AI战略落地需坚守三项要求：坚持"一把手工程"，坚决打破数据壁垒；强化动态评 估与资源精准调优；拒绝表面数字化。 本文字数：1488，阅读时长大约3分钟 作者 | 第一财经 杨倩雯 "数字化转型不 ...

傅帆称，未来将通过三个层面的变革，让智能化深度融入保险的核心价值。其中，试点AI原生分支机 构是重要举措之一，其核心目标是重构生产力与组织的协同范式。他介绍称，中国太保正以首批AI原 生分公司试点为突破口，重塑业务流程，实现从人力驱动到人机协同的跨越，向数字融合的更高阶段跃 升。 重构生产力与组织的协同范式。 "数字化转型不是选择题，而是企业生存和发展的必答题。"中国太保董事长傅帆在近日举办的首届中国 太保科技创新大会上表示。 "在'十五五'期间，保险业不仅要追求保费规模和资产体量的领先，更要在服务实体经济质效、防范化 解风险能力、提高全球竞争力上实现质的飞跃。"在傅帆看来，在当前全球正经历由深层次人工智能驱 动的新变革背景下，提升AI应用能力正是实现上述目标的重要抓手，因此"人工智能+"也被中国太保列 为三大战略之一。 此次大会上发布的《2025年AI应用白皮书》，也进一步勾勒出"AI+保险"的未来图景。白皮书展望称， 保险行业正站在技术驱动的变革风口，AI将推动行业从三条路径实现演变：客户维度，从"信息差"转 向"全生命周期陪伴"，通过AI交互入口和情感智能，提供个性化陪伴式服务；产业维度，从"传统边 界 ...

Core Viewpoints - The non-bank financial sector, including brokerage and insurance, shows continued improvement in fundamentals, highlighting the investment value of the non-bank sector [1] Group 1: Market Performance - As of January 31, 2026, the Shanghai Composite Index reported 4117.95 points, down 0.44%, while the Shenzhen Component Index was at 14205.89, down 1.62% [10] - The CSI 300 Index increased by 0.08%, and the ChiNext Index decreased by 0.09% [10] - The CITIC II Securities Index fell by 0.71%, while the CITIC II Insurance Index rose by 5.41% [10] Group 2: Industry Dynamics and Weekly Commentary Insurance Sector - Listed insurance companies are expected to maintain high growth, with a marginal improvement in long-term interest rate spreads [15] - As of January 30, 2026, the 10-year government bond yield was 1.81%, down 2 basis points from the previous week, indicating a cautious risk preference in the equity market [12] - The insurance sector is benefiting from a stable long-term interest rate environment and an upward trend in the equity market, which is expected to drive performance growth in Q1 2026 [15] Securities Sector - The securities market is showing positive core indicators, with a projected high growth in Q1 2026, supported by improved trading volume and margin financing [16] - As of January 30, 2026, 17 brokerages reported a total net profit of 1153.44 billion CNY for 2025, a year-on-year increase of 60.27% [19] - The average daily trading volume of all A and B shares reached 2.90 trillion CNY, a 144.26% increase compared to the same period in 2025, indicating a significant rise in market activity [21] Group 3: Investment Opportunities - The launch of commercial real estate REITs is expected to expand business opportunities, with the first three products anticipated to raise over 13 billion CNY [27] - The REITs initiative aims to activate existing commercial real estate assets and enhance the supply of capital market products, indicating strong market demand [27] - The insurance sector is advised to focus on companies like China Ping An, China Life, and New China Life, which are expected to benefit from favorable market conditions [15]