证券日报网讯 1月20日，中国平安（601318）在互动平台回答投资者提问时表示，根据公司发布的2025 年半年度报告，截至2025年上半年，公司以公允价值计量且其变动计入其他综合收益（FVOCI）的固收 类金融资产金额为31701亿元，以公允价值计量且其变动计入当期损益（FVTPL）的固收类金融资产金 额为9449亿元，此外还有部分固收类金融资产以摊余成本计量（AC）。 ...

二、中国平安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。 2026年1月8日，楚雄金融监管分局发布批复称，《中国平安财产保险股份有限公司楚雄中心支公司关于 中国平安财产保险股份有限公司南华支公司变更营业场所的请示》（平保产云分楚雄中支发〔2025〕11 号）收悉。经审核，现批复如下： 一、同意中国平安财产保险股份有限公司南华支公司营业场所变更为：云南省楚雄彝族自治州南华县龙 川镇省道S103以南湖畔佳苑（一期）4幢1楼107号、108号商铺。 ...

一、同意中国平安财产保险股份有限公司青山湖支公司将营业场所变更为：江西省南昌市青山湖区火炬 二路1111号昱丰大厦2楼。 二、中国平安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。 2026年1月19日，江西金融监管局发布批复称，《关于中国平安（601318）财产保险股份有限公司青山 湖支公司变更营业场所的请示》(平保产赣分南昌中支发〔2025〕3号)收悉。经审核，现批复如下： ...

（文章来源：证券时报网） 据iFinD统计，截至1月20日，沪深两市共有107股连续5日或5日以上获融资净买入。连续获融资净买入 天数最多的股票是华天酒店，连续12个交易日获净买入；连续获融资净买入天数较多的还有招商银行、 平安银行、分众传媒、新华保险、鸿富瀚、开勒股份、新产业、中国平安等股。 ...

Core Viewpoint - The Shanghai 180 ETF Index Fund closely tracks the Shanghai 180 Index, which reflects the overall performance of 180 large-cap and liquid stocks in the Shanghai securities market [2] Group 1: Index Performance - As of January 20, 2026, the Shanghai 180 Index rose by 0.08%, with notable increases in constituent stocks such as China Chemical (+10.01%), China Power Construction (+7.02%), and Hengli Petrochemical (+6.62%) [1] - The Shanghai 180 ETF Index Fund achieved a four-day consecutive increase, with the latest price reported at 1.26 yuan [1] - The fund's average daily trading volume over the past year was 256.26 million yuan, with a turnover rate of 0.11% on January 20, 2026 [1] Group 2: Fund Metrics - The fund's Sharpe ratio since inception is 2.13, indicating a favorable risk-adjusted return [1] - The maximum drawdown for the fund year-to-date is 1.30%, with a relative benchmark drawdown of 0.06% [1] - The management fee for the fund is 0.15%, and the custody fee is 0.05% [1] Group 3: Top Holdings - As of December 31, 2025, the top ten weighted stocks in the Shanghai 180 Index account for 25.29% of the index, including Kweichow Moutai, Zijin Mining, and China Ping An [2] - The top ten stocks by weight are Kweichow Moutai (4.21%), Zijin Mining (3.78%), and China Ping An (2.31%), among others [3]

Core Insights - The total claims amount for life insurance companies in 2025 has increased significantly, with four companies exceeding 10 billion yuan in claims [1] - The data reflects not only the payout capabilities of insurance companies but also the health risks faced by different demographics [2] Group 1: Claims Data Overview - China Life Insurance reported over 62.24 million claims totaling over 100.4 billion yuan; Ping An Life paid out 4.958 million claims amounting to 41.51 billion yuan; Taiping Life had 4.243 million claims totaling 20.1 billion yuan; and Xinhua Insurance processed 5.01 million claims totaling 14.7 billion yuan [1] - The trend indicates that commercial insurance has shifted from being a low-frequency rescue tool to a high-frequency payment method for everyday medical expenses [3] Group 2: Medical Insurance Insights - Medical insurance claims are predominantly high-frequency and low-amount, with Taiping Life's medical claims accounting for 94.4% of total claims, and 93% of Taikang Life's claims being medical [3] - The age distribution of medical claims shows that the under-17 demographic accounts for 39.4% of claims, primarily due to respiratory infections and accidental injuries [4] Group 3: Critical Illness Insurance Analysis - Critical illness insurance remains the highest payout category among life insurance companies, with Ping An Life's payouts exceeding 20.86 billion yuan, accounting for over 50% of total claims [5] - The report indicates that male policyholders should be cautious of lung cancer, thyroid cancer, and liver cancer, while female policyholders should focus on thyroid cancer, breast cancer, and lung cancer [5] - The average payout for critical illness claims is notably low, with many claims falling below 300,000 yuan, highlighting a significant gap between average payouts and actual treatment costs [6][7]

Core Viewpoint - The article highlights the efforts of the insurance company, Ping An, to promote yaks insurance in Tibet, addressing the challenges faced by herders in adopting electronic identification for their livestock while ensuring their financial protection against risks like infectious diseases and natural disasters [1][2]. Group 1: Insurance Promotion and Adoption - The government and insurance companies are actively promoting yak insurance to protect herders' interests amid increasing risks from infectious diseases and natural disasters [1]. - A significant barrier to adoption is the cultural perception of yaks as family members, making herders reluctant to accept ear tagging as it is seen as harmful [1]. - Ping An's team, led by Badu Qiuza, engages with herders to explain the benefits of ear tags as a form of protection and a key to quick claims processing [1]. Group 2: Technological Integration and Service Improvement - Since 2022, herders only need to pay 6 yuan per yak annually, supported by central government subsidies, to receive coverage for various risks [2]. - Ping An has developed a Tibetan language version of the "Ai Nong Bao" app to provide weather alerts and help herders prepare for adverse conditions, thereby reducing livestock mortality [2]. - The use of advanced technology, including "cow face recognition" and electronic ear tags, has streamlined the claims process, allowing for claims to be settled within 24 hours of reporting [2]. Group 3: Performance Metrics and Future Commitment - As of November 2025, Ping An's local branch has processed 2,891 claims, disbursing 15.095 million yuan, with a 100% claim closure rate and an average claim processing time of just 6.6 days [2]. - By August 2025, over 230,000 yaks in Tibet had been tagged, achieving a tagging rate of over 95% [2]. - Ping An is committed to its mission of serving the public through financial services, leveraging its dual strategy of comprehensive finance and technology to support rural revitalization and high-quality economic development [2].

Core Insights - Harbin Ice and Snow World is experiencing its most prosperous tourism season ever, with Ping An Property & Casualty Insurance providing 5.7 billion yuan in accident and public liability insurance coverage for construction workers, staff, and visitors [1][2] Group 1: Insurance Coverage and Risk Management - Ping An Property & Casualty Insurance is the exclusive underwriter for the 27th Ice and Snow World, offering comprehensive accident insurance [1] - The company has developed a three-dimensional protection system focusing on risk reduction, emergency response, and claims service [1] - The insurance coverage includes measures tailored to the unique risks of low temperatures, slippery roads, and high foot traffic in the park [1] Group 2: Safety Measures and Public Education - Ping An Property & Casualty Insurance implements a dual approach of "source prevention + safety education" to mitigate risks [1] - Physical safety measures include installing anti-slip facilities and increasing warning signs in key areas of the park [1] - Behavioral guidance is provided through on-site personnel promoting easy-to-learn anti-slip techniques and reinforcing safety knowledge among visitors [1] Group 3: Emergency Response and Healthcare Collaboration - The company has established a "medical insurance linkage" emergency rescue system in collaboration with nearby top-tier hospitals [2] - A 24-hour green channel is available for critically ill visitors, ensuring high-quality medical care through expert teams [2] - The initiative aims to protect visitors' health while minimizing economic losses from accidents by reducing emergency service fees and guiding precise treatment [2]

Group 1 - The insurance stocks experienced a significant increase, with China Life rising by 4% to HKD 33.3, China Pacific up by 3.51% to HKD 23.6, China Taiping increasing by 2.41% to HKD 39.06, and Ping An rising by 1.61% to HKD 69.5 [2] - In the first week of January 2026, listed insurance companies reported impressive premium income from the bancassurance channel, with China Life, Ping An Life, and PICC Life achieving over 100% year-on-year growth [2] - Individual insurance premium income also saw a general increase of over 30% year-on-year [2] Group 2 - On January 19, China Taiping released the first earnings forecast among listed insurance companies, projecting a substantial net profit increase of 215% to 225% for the year 2025 [2] - According to Open Source Securities, the performance of individual insurance and bancassurance exceeded expectations, indicating a potential continuation of catalysts on both the liability and asset sides [2] - Citigroup's research report anticipates a historic opportunity for the life insurance industry in 2026, driven by retail investors seeking higher reinvestment returns for maturing bank deposits [2] - Citigroup favors industry leaders such as China Life and Ping An in their 2026 outlook [2]

Core Viewpoint - The article highlights the increasing trend of securities firms in China to sell insurance products, driven by regulatory support and the need for wealth management transformation amid operational pressures [1][5][18]. Group 1: Regulatory Changes and Market Trends - Starting from 2025, the China Securities Association (CSRC) aims to promote more compliant securities firms to obtain licenses for selling bank wealth management and insurance products [1]. - The presence of insurance products on the shelves of securities firms has been steadily increasing, indicating a shift towards insurance sales [4][6]. - Major securities firms like CITIC Securities, China Merchants Securities, and Ping An Securities have launched insurance sections on their apps, showcasing a variety of insurance products alongside traditional financial offerings [3][10]. Group 2: Sales Pressure and Employee Experiences - Employees at leading securities firms are experiencing significant pressure to meet insurance sales targets, leading to a growing emphasis on insurance sales in their daily work [2][22]. - The performance metrics for insurance sales have become a focal point, with employees often feeling overwhelmed during peak sales periods [2][22]. Group 3: Product Offerings and Market Position - As of now, the number of securities firms holding insurance intermediary licenses remains unchanged from 2022, with only 11 firms licensed to sell insurance [6]. - Despite the limited number of licensed firms, major players are actively expanding their insurance product offerings, with Ping An Securities offering 56 products and CITIC Securities offering 20 [8][10]. - The insurance products being sold are primarily focused on life insurance and annuities, reflecting a trend towards financial products with investment attributes rather than pure risk coverage [10][19]. Group 4: Competitive Landscape and Challenges - The competitive landscape for insurance sales is evolving, with securities firms leveraging their existing client bases and expertise in asset management to penetrate the insurance market [20][22]. - However, the dominance of banks in the insurance distribution channel remains a significant challenge for securities firms, as banks have extensive networks and established customer relationships [22]. - Regulatory scrutiny is increasing, with upcoming regulations aimed at ensuring appropriate management of cross-industry sales, which may pose additional challenges for securities firms [24].