一、同意撤销中国人民财产保险股份有限公司邓州支公司穰城路营销服务部。 2025年9月17日，国家金融监督管理总局南阳监管分局发布批复称，《人保财险南阳市分公司关于撤销 邓州支公司穰城路营销服务部的请示》（宛人保财险发〔2025〕65号）收悉。经审核，现批复如下： 二、接此批复文件后，人保财险南阳市分公司应立即停止一切经营活动，于15个工作日内向南阳金融监 管分局缴回许可证，并按照有关法律法规要求办理相关手续。 ...

中国财险 二、中国人民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。 分时图 日K线 周K线 月K线 17.37 -0.47 -2.63% 3.53% 2.35% 1.18% 0.00% 1.18% 2.35% 3.53% 17.21 17.42 17.63 17.84 18.05 18.26 18.47 09:30 10:30 12:00/13:00 14:00 16:10 0 129万 257万 386万 2025年9月12日，国家金融监督管理总局嘉兴监管分局发布批复称，《人保财险浙江省分公司关于变更 中国人民财产保险股份有限公司嘉兴市分公司营业场所的请示》（浙人保财险报核〔2025〕115号）收 悉。经审核，现批复如下： 一、同意中国人民财产保险股份有限公司嘉兴市分公司将营业场所变更为：浙江省嘉兴市南湖区东栅街 道泾水路791号启红大厦A座6层、7层。 ...

2025H1上市险企投资资产规模稳步增长，哑铃型配置结构更加突出，但债券增配力度较小而股票增配 力度更大，截至6月末各公司股票占比分别为新华保险11.6%>中国平安10.5%>中国太保9.7%>中国人寿 8.7%>中国太平8.3%>中国人保5.4%。从收益表现来看，净投资收益率延续下行态势，分别为中国人保 3.7%(同比-0.1pt)>中国平安3.6%(简单年化、同比+0.3pt)>中国太保3.4%(简单年化、同比-0.2pt)>新华保 险3.0%(同比-0.2pt)>中国人寿2.8%(同比-0.3pt)。 总投资收益率差异明显主因权益投资策略不同，分别为新华保险5.9%(同比+1.1pt)>中国人保5.1%(同比 +1.0pt)>中国太保4.6%(简单年化、同比-0.8pt)>中国平安3.8%(简单年化、同比+0.3pt)>中国人寿3.3%(同 比-0.3pt)。 净利润和净资产分化明显，中期分红重视股东回报 受资本市场波动影响不同，2025H1上市险企归母净利润增速分别为新华保险+33.5%>中国人保+16.9%> 中国太平+12.2%>中国太保+11.0%>中国人寿+6.9%。剔除短期投资波动和其他一次 ...

证券之星消息，9月22日保险板块较上一交易日下跌0.31%，中国人寿领跌。当日上证指数报收于 3828.58，上涨0.22%。深证成指报收于13157.97，上涨0.67%。保险板块个股涨跌见下表： | 代码 | 名称 | 主力净流入 (元) | 主力净占比 游资净流入 (元) | | 游资净占比 散户净流入 (元) | | 散户净占比 | | --- | --- | --- | --- | --- | --- | --- | --- | | 601336 新华保险 | | - 1475.28万 | 2.03% | -4492.69万 | -6.18% | 3017.41万 | 4.15% | | 601318 中国平安 | | -743.10万 | -0.36% | -5965.95万 | -2.88% | 6709.05万 | 3.24% | | 601601 中国太保 | | -1481.75万 | -1.49% | -6888.60万 | -6.94% | 8370.36万 | 8.43% | | 601319 中国人保 | | -2488.04万 | -6.65% | 1474.79万 | 3.94 ...

Investment Rating - Investment rating: Positive (maintained) [1] Core Viewpoints - The insurance industry is experiencing overall growth in both performance and embedded value (EV), driven primarily by property insurance and investment services [15][34] - The performance of listed insurance companies shows a divergence, with property insurance and equity investment returns being the main contributors to profit growth [15][34] - Future outlook indicates a continuation of high-quality growth in liabilities and an ongoing trend of increasing equity asset allocation [8][34] Summary by Sections Overall Situation - The overall performance of listed insurance companies improved in 2025H1, with a notable contribution from property insurance and investment returns [15][34] - The net profit of listed insurance companies for 2025H1 was as follows: China Ping An at 68 billion, China Life at 40.9 billion, China Pacific at 27.9 billion, China Re at 26.5 billion, and New China Life at 14.8 billion, showing a year-on-year increase for all except Ping An [15][17] Business Situation - Life insurance channels and product transformations are progressing, with significant growth in the bancassurance channel while the individual insurance channel faces challenges [6][34] - Property insurance companies have improved their combined operating ratio (COR), leading to substantial increases in underwriting profits [6][34] - Investment assets of insurance companies increased year-on-year, with a shift towards equity assets due to market conditions [6][34] Future Outlook - Regulatory bodies are continuously optimizing the insurance industry's development through various measures, which is expected to benefit leading insurance companies [8][34] - The demand for retirement products is strong, and the transformation of participating insurance products is anticipated to enhance the attractiveness of these offerings [8][34] Investment Recommendations - The report recommends focusing on leading insurance companies with strong liability-side advantages and undervalued valuations, specifically China Pacific and China Ping An [8][34]

9月15日，中国银行淄博分行与人保财险淄博市分公司、人保寿险淄博中心支公司签署全面战略合作协 议，标志着银保合作迈入深度融合、协同发展的新阶段。 "人保集团与中国银行有着广泛的合作基础和良好的合作条件，今天三方签订全面战略合作协议，拉开 合作序幕，既是关系的进一步深化，更是推动工作融合发展的生动实践。"中国银行淄博分行主要负责 人表示，中国银行拥有百年历史积淀，是国内持续经营时间最长、全球化和综合化程度最高的大型国有 商业银行。中国银行淄博分行作为中国银行驻淄金融机构，坚持以服务地方经济社会发展为己任，引灌 金融"活水"，增进民生福祉，提升服务质效，连续两年本外币贷款新增超50亿元，市场份额每年提升超 1%。此次，三方将充分发挥各自优势，在公司金融、普惠金融、个人金融等各领域开展深入合作，构 建客户共享、优势互补、共赢发展的合作模式，为淄博市高质量发展贡献力量。 "这不仅是强化联动、深化交流，开展更深层次合作的重要起点，也是双方全力服务全市经济社会发展 的具体实践。"人保财险淄博市分公司主要负责人表示，下一步将重点锚定构建全周期、本地化金融服 务生态，紧密围绕乡村振兴战略，深度融入地方政府"粮食安全、产业升级 ...

2025年金融教育宣传周期间，中央财经大学迎来了一场别开生面的金融宣教活动。中国人保相关部门走 进校园，通过面对面交流、案例讲解等形式，向大学生群体传递金融风险防范知识。今年，中国人保 以"保障金融权益 助力美好生活"为主题，以线上短剧、H5等创意宣传形式与线下"风险提示送上门"等 活动，实现金融教育宣传线上线下深度融合、全面覆盖。 融媒协同，教育宣教立体推进 近年来，金融监管部门持续强调适当性管理的重要性，先后出台多项制度，推动保险机构切实履行适当 性管理义务。中国人保创新推出的"守护者剧场"系列短剧聚焦保险适当性，分别聚焦"误导跟风""父母 焦虑""面子驱动"等典型保险消费心理，通过生活化剧情和专业解读，将适当性管理原则转化为易懂的 生活场景。短剧采用"故事+解读"模式，增强传播趣味性和记忆点，避免传统教育的枯燥，有效提升消 费者金融素养。 "风险提示送上门"，精准服务多元群体 为落实2025年"金融教育宣传周"工作部署，中国人保各级机构全面开展"风险提示送上门"系列宣传活 动，通过问卷调研、互动问答、方言宣讲、文艺表演等多元化的形式，实现金融知识"送上门、听得 懂、用得上"。 人保财险充分发挥机构优势广 ...

瑞士再保险近期发布的《中国车险市场现状报告》显示，车险作为中国规模最大的非寿险业务，2024年 的保费超过9130亿元，占非寿险总保费收入的54%以上。车险行业持续提升经营能力，致力于为消费者 提供更公平的定价与更全面的风险保障。车险行业还能够引导汽车制造企业提升车辆安全与性能标准， 甚至成为中国汽车品牌开拓国际市场的重要支撑。 走向高质量发展道路 今年年初，国家金融监督管理总局等部门联合发布《关于深化改革加强监管促进新能源车险高质量发展 的指导意见》，提出降低维修保养成本、创新优化车险供给，并开展新能源汽车安全性经济性研究，为 汽车企业完善产品设计提供建议，推动降低出险率和维修成本。在《意见》发布的同一天，上海保险交 易所推出了车险好投保平台。金融监管总局有关司局负责人表示，任何新能源车主在常规渠道投保遇到 困难时，可选择通过此平台链接保险公司投保，且保险公司不得拒保。财险行业将为高赔付风险的新能 源汽车提供线上化的便利投保窗口，有效实现愿保尽保。统筹行业力量，引导财险公司主动担当作为， 成为从根本上解决高赔付风险新能源汽车"投保难"问题的重要举措。 在近期举行的业绩发布会上，中国太保副总裁俞斌表示，上半年 ...

Investment Rating - The report maintains an "Overweight" rating for the non-bank financial industry [1] Core Views - The fundamentals of the non-bank financial industry show a positive trend with high certainty of recovery in valuations for insurance and brokerage firms [1] Summary by Sections Non-Bank Financial Sub-Industry Performance - In the recent five trading days (September 15-19, 2025), only the diversified financial sector outperformed the CSI 300 index, with diversified finance down 0.03%, securities down 3.55%, insurance down 4.80%, and the overall non-bank financial sector down 3.80% [10][11] - Year-to-date performance shows diversified finance up 11.54%, insurance up 5.74%, brokerage up 4.47%, and the overall non-bank financial sector up 5.27%, while the CSI 300 index is up 14.41% [11][12] Securities Sector - Trading volume has significantly increased year-on-year, with the average daily trading volume for September reaching CNY 28,214 billion, up 209.19% year-on-year and 7.65% month-on-month [16] - The margin trading balance as of September 18 was CNY 24,025 billion, up 75.22% year-on-year and 28.85% since the beginning of the year [16] - The average price-to-book (PB) ratio for the securities industry is projected at 1.3x for 2025, with recommendations for leading firms benefiting from active capital market policies, such as CITIC Securities and Dongfang Zhi Tong [21] Insurance Sector - The net profit of listed insurance companies showed a slight increase, with a total net profit of CNY 1,782 billion in the first half of 2025, a year-on-year growth of 3.7% [23] - The new business value (NBV) for life insurance remains high, with significant growth rates reported by major firms, driven by improved value rates due to declining interest rates and increased new premium sales [23] - The insurance sector's valuation is currently at 0.65-0.86 times the 2025E P/EV, which is considered historically low, maintaining an "Overweight" rating [27] Diversified Financial Sector - The trust industry saw its total assets reach CNY 29.56 trillion by the end of 2024, a year-on-year growth of 23.58%, although profits have significantly declined [29] - The futures market experienced a trading volume of 10.59 billion contracts in July, with a transaction value of CNY 71.31 trillion, reflecting year-on-year growth of 48.89% and 36.03% respectively [36] - The report suggests that innovation in risk management will be a key direction for the futures industry moving forward [41] Industry Ranking and Key Company Recommendations - The recommended ranking for the industry is insurance > securities > diversified finance, with key recommendations including China Ping An, New China Life, China Pacific Insurance, CITIC Securities, and Dongfang Zhi Tong [47]

Core Viewpoint - The approval of the establishment of PICC Health Management Co., Ltd. by the Financial Regulatory Bureau signifies the further consolidation of China PICC Group's licensing framework and the expansion of health management companies funded by insurance firms [1][2]. Group 1: Industry Trends - Major insurance companies are increasingly establishing specialized health management companies, integrating insurance products with health management services to enhance the value of insurance offerings and improve risk management [1][4]. - The health insurance sector is becoming increasingly crowded, with a shift from traditional insurance models to products that encompass exclusive coverage, medical services, and unique benefits [4][6]. - The new "National Ten Articles" policy encourages the integration of commercial health insurance with health management, aiming to enhance service levels and promote a proactive approach to health [4][6]. Group 2: Company Developments - PICC Health plans to utilize 200 million yuan of its own funds to establish the health management company, aiming to create a new business model that combines insurance, health services, and technology [2][3]. - The health management business of PICC Health is projected to generate service revenue of 159 million yuan in the first half of 2025, serving over 4.8 million people, reflecting a year-on-year growth of over 20% [2][3]. - The company aims to transition its health insurance model from traditional reimbursement to managed healthcare, enhancing collaboration across various business segments [2][3]. Group 3: Future Outlook - The synergy between health insurance and health management is expected to enhance product value, reduce the risk of illness among insured individuals, and optimize profit margins for insurance companies [6][5]. - The use of mobile internet and artificial intelligence in health management services is being explored to improve efficiency and promote the health of insured populations throughout their life cycles [5][6].