Core Points - China People's Insurance Group Co., Ltd. (China P&C) reported a net profit attributable to shareholders of 26.53 billion yuan for the first half of 2025, representing a year-on-year increase of 16.9% [1] - The company plans to distribute a mid-term cash dividend of 0.75 yuan per 10 shares (tax included), an increase of 19% compared to the previous year [1] - Total insurance service revenue reached 280.25 billion yuan, up 7.1% year-on-year, while original insurance premium income was 454.63 billion yuan, reflecting a growth of 6.4% [1] - As of June 30, 2025, the investment asset scale exceeded 1.7 trillion yuan, growing by 7.2% since the beginning of the year [1] Financial Performance - Total assets amounted to 1.8785 trillion yuan, a 6.3% increase from the end of the previous year, while net assets reached 389.46 billion yuan, up 6.1% [1] - The comprehensive solvency adequacy ratio stood at 276%, and the core solvency adequacy ratio was 219%, indicating strong capital strength [1] Business Segments - In the property insurance sector, China P&C's property insurance subsidiary held a market share of 33.5%, maintaining its industry-leading position [1] - The net cash inflow from operating activities increased by 26.6%, and the comprehensive cost ratio improved to 95.3%, down 1.5 percentage points year-on-year [1] Life Insurance Performance - The new business value for life insurance increased by 71.7% year-on-year, with the proportion of regular premium income accounting for 79.5% of original insurance premium income, up 0.9 percentage points [2] - The new business value for health insurance grew by 51.0%, with first-year regular premium income rising by 52.3% [2] - Internet long-term insurance first-year regular premium income surged by 110.6% year-on-year [2] Investment Performance - Total investment income reached 41.478 billion yuan, a year-on-year increase of 42.7%, with an annualized total investment return rate of 5.1%, up 1.0 percentage points [2] Future Outlook - China P&C aims to enhance functionality and support high-quality economic development as a core focus [2] - The company is committed to high-quality development, maintaining a positive growth trajectory [2] - The company plans to advance six reforms to achieve tangible results, focusing on governance, strategic control, grassroots development, resource sharing, digital transformation, and personnel systems [3] - Risk management will be prioritized to maintain a solid risk baseline while balancing growth and risk prevention [3]

。 容而產生或因倚賴該等內容而引致的任何損失承擔任何責任 準確性或完整性亦不發表任何聲明，並明確表示，概不對因本公告全部或任何部分內 香港交易及結算所有限公司及香港聯合交易所有限公司對本公告的內容概不負責，對其 （於中華人民共和國註冊成立之股份有限公司） （股份代號：1339） 海外監管公告 本公告乃中國人民保險集團股份有限公司根據《香港聯合交易所有限公司證券上市規則》 第13.10B條的披露義務而作出。 茲載列該公告如下，僅供參閱。 承董事會命 中國人民保險集團股份有限公司 丁向群 董事长 中國北京，二零二五年 月二十七日 於本公告日，公司執行董事為丁向群女士、趙鵬先生及肖建友先生，非執行董事為 王少群先生、喻強先生及宋洪軍先生，獨立非執行董事為邵善波先生、徐麗娜女士 、王鵬程先生及高平陽先生。 证券代码：601319 证券简称：中国人保 公告编号：临 2025-029 中国人民保险集团股份有限公司 2025 年中期利润分配方案公告 本公司董事会及全体董事保证本公告内容不存在任何虚假记载、 误导性陈述或者重大遗漏，并对其内容的真实性、准确性和完整性承 担法律责任。 重要内容提示： 建议每 10 股派发现金红 ...

。 容而產生或因倚賴該等內容而引致的任何損失承擔任何責任 準確性或完整性亦不發表任何聲明，並明確表示，概不對因本公告全部或任何部分內 香港交易及結算所有限公司及香港聯合交易所有限公司對本公告的內容概不負責，對其 （於中華人民共和國註冊成立之股份有限公司） （股份代號：1339） 海外監管公告 本公告乃中國人民保險集團股份有限公司根據《香港聯合交易所有限公司證券上市規則》 第13.10B條的披露義務而作出。 茲載列該公告如下，僅供參閱。 承董事會命 中國人民保險集團股份有限公司 丁向群 董事长 中國北京，二零二五年 月二十七日 於本公告日，公司執行董事為丁向群女士、趙鵬先生及肖建友先生，非執行董事為 王少群先生、喻強先生及宋洪軍先生，獨立非執行董事為邵善波先生、徐麗娜女士 、王鵬程先生及高平陽先生。 证券代码：601319 证券简称：中国人保 公告编号：临 2025-28 中国人民保险集团股份有限公司 第四届监事会第三十一次会议决议公告 本公司监事会及全体监事保证本公告内容不存在任何虚假记 载、误导性陈述或者重大遗漏，并对其内容的真实性、准确性和完 整性承担法律责任。 中国人民保险集团股份有限公司（以下简称"公 ...

Investment Rating - The report maintains an "Accumulate" rating for the insurance industry [1] Core Insights - In July, the life insurance premium growth rate significantly increased, while the property insurance business remained stable [1] - The life insurance companies' original premium income for the first seven months of 2025 reached 33,203 billion yuan, a year-on-year increase of 7.5%, with a total premium income of 37,498 billion yuan, up 6.4% year-on-year [4] - The report anticipates a shift towards dividend insurance products following adjustments in the preset interest rates, indicating a positive outlook for the industry's liability cost optimization [4] - The health insurance premium in July showed a year-on-year increase of 2.6%, marking a return to positive growth [4] - The property insurance companies' premium income for the first seven months of 2025 was 10,933 billion yuan, reflecting a year-on-year increase of 5.1% [4] - The report highlights that the market's savings demand remains strong, and the liability costs are expected to gradually decrease, alleviating pressure from interest rate differentials [4] Summary by Sections Life Insurance - July's single-month life insurance premium reached 3,447 billion yuan, a year-on-year increase of 26.2%, with a notable acceleration from June's growth [4] - The new investment contributions from policyholders showed a year-on-year decrease of 1% for the first seven months, but July saw a significant increase of 21% [4] Health Insurance - The health insurance premium for July was 2.6% higher year-on-year, reversing the negative trend observed in June [4] - The report emphasizes the potential for long-term growth in health insurance through the integration of various health-related services [4] Property Insurance - The property insurance premium for July increased by 5.3% year-on-year, with non-auto insurance business showing improved growth [4] - The report notes that the growth in non-auto insurance premiums was driven by health insurance, with specific segments like health and accident insurance showing substantial increases [4] Market Outlook - The report indicates that the valuation of the insurance sector remains at historical lows, with expected valuations for 2025 ranging from 0.64 to 0.95 times PEV and 1.10 to 2.24 times PB [4] - The report concludes that the leading insurance companies are likely to maintain robust growth and profitability, particularly in the context of ongoing reforms [4]

海外監管公告 。 容而產生或因倚賴該等內容而引致的任何損失承擔任何責任 準確性或完整性亦不發表任何聲明，並明確表示，概不對因本公告全部或任何部分內 香港交易及結算所有限公司及香港聯合交易所有限公司對本公告的內容概不負責，對其 （於中華人民共和國註冊成立之股份有限公司） （股份代號：1339） 本公告乃中國人民保險集團股份有限公司根據《香港聯合交易所有限公司證券上市規則》 第13.10B條的披露義務而作出。 茲載列該公告如下，僅供參閱。 承董事會命 中國人民保險集團股份有限公司 丁向群 董事长 中國北京，二零二五年 月二十七日 於本公告日，公司執行董事為丁向群女士、趙鵬先生及肖建友先生，非執行董事為 王少群先生、喻強先生及宋洪軍先生，獨立非執行董事為邵善波先生、徐麗娜女士 、王鵬程先生及高平陽先生。 证券代码：601319 证券简称： 中国人保 公告编号：临 2025-027 中国人民保险集团股份有限公司 第五届董事会第十一次会议决议公告 本公司董事会及全体董事保证本公告内容不存在任何虚假记 载、误导性陈述或者重大遗漏，并对其内容的真实性、准确性和完 整性承担法律责任。 本公司第五届董事会第十一次会议（以下简称 ...

Core Viewpoint - The performance reports of major insurance companies, China Life and China Pacific Insurance, indicate growth in their core insurance businesses and investment performance, with both companies showing increases in net profit and shareholder equity in the first half of the year [2][4]. Group 1: Financial Performance - China Life reported a net profit of 40.931 billion yuan, a year-on-year increase of 6.9%, and shareholder equity of 523.619 billion yuan, up 2.7% from the beginning of the year [2][4]. - China Pacific Insurance achieved a net profit of 26.530 billion yuan, a year-on-year increase of 16.9%, with shareholder equity of 285.111 billion yuan, up 6.1% from the start of the year [2][4]. - Both companies plan to distribute interim dividends, with China Life proposing a cash dividend of 0.238 yuan per share, a 19.0% increase year-on-year, totaling approximately 6.727 billion yuan [2][4]. Group 2: Investment Strategies - Both companies emphasized the importance of long-term capital market investments, with significant increases in their stock allocations. China Life's investment assets reached 7.13 trillion yuan, a 7.8% increase from the beginning of the year, with net investment income of 96.067 billion yuan [2][4][5]. - China Life's stock and fund allocation increased from 12.18% at the end of 2024 to 13.60% by mid-2025, reflecting a strategic shift towards equities [4][5]. - China Pacific Insurance's total investment assets grew to 1.76 trillion yuan, a 7.2% increase, with stock and fund allocations rising to 10.7%, up 1.7 percentage points [6][7]. Group 3: Insurance Business Growth - China Life's total premium income reached 525.088 billion yuan, a 7.3% year-on-year increase, with new business value growing by 20.3% to 28.546 billion yuan [7][8]. - China Pacific Insurance reported insurance service income of 280.250 billion yuan, a 7.1% increase, and original insurance premium income of 454.625 billion yuan, up 6.4% [8][9]. - The property insurance segment remains a core strength for China Pacific Insurance, with original premium income of 323.282 billion yuan and an underwriting profit of 11.699 billion yuan, a 53.5% increase [9].

Core Insights - China Pacific Insurance reported a 7.1% year-on-year increase in insurance service revenue for the first half of 2025, reaching 280.25 billion yuan, and a 6.4% increase in original insurance premium income, totaling 2.45 trillion yuan [1] - The investment asset scale of China Pacific Insurance exceeded 1.7 trillion yuan as of June 30, 2025, reflecting a 7.2% growth since the beginning of the year [1] - The company achieved a net profit of 35.888 billion yuan in the first half of 2025, marking a 17.8% increase year-on-year [2] Business Segments - In the property and casualty insurance segment, original premium income reached 323.282 billion yuan, up 3.6% year-on-year, with a market share of 33.5% [1] - The life insurance segment saw original premium income of 90.513 billion yuan, a 14.5% increase, and a new business value of 4.978 billion yuan, which is a 71.7% increase year-on-year [1] - Health insurance reported original premium income of 40.654 billion yuan, up 12.2%, with first-year premium income growing by 52.3% to 5.626 billion yuan [1] Investment Performance - Total investment income for the first half of 2025 was 41.478 billion yuan, a 42.7% increase, while net investment income rose by 13.2% to 30.324 billion yuan [2] - The annualized total investment return rate was 5.1%, up by 1 percentage point year-on-year, while the annualized net investment return rate slightly decreased by 0.1 percentage points to 3.7% [2] - The three-year average total investment return rate stands at 4.5% [2] Future Outlook - The company anticipates that ongoing policies aimed at stabilizing growth, promoting domestic demand, and expanding investment will provide a solid macroeconomic foundation for the financial insurance industry [3] - The central urban work conference's goals for building a "modernized people's city" are expected to create new policy dividends for the insurance sector, enhancing its role as an economic stabilizer [3] - Innovations driven by new technologies, such as artificial intelligence, are expected to foster further development and innovation within the insurance business [3]

Group 1 - The core viewpoint of the article highlights that China Life Insurance achieved a net profit attributable to shareholders of 26.53 billion yuan in the first half of the year, representing a year-on-year increase of 16.9% [1] - The company reported insurance service revenue of 280.25 billion yuan, which is a year-on-year growth of 7.1% [1] - In terms of investment business, the company actively seized investment opportunities in the capital market, optimizing equity structure and extending asset duration, resulting in total investment income of 41.478 billion yuan, a year-on-year increase of 42.7% [1] Group 2 - The annualized total investment return rate reached 5.1%, which is an increase of 1.0 percentage points compared to the previous year [1]

Core Viewpoint - China Pacific Insurance (CPIC) reported strong financial performance for the first half of 2025, with significant growth in net profit and investment assets, indicating a robust operational capacity in both property and life insurance sectors [1][2][3][4]. Group 1: Financial Performance - In the first half of 2025, CPIC achieved a net profit of 35.888 billion yuan, representing a year-on-year increase of 17.8% [1]. - The net profit attributable to shareholders was 26.530 billion yuan, up 16.9% year-on-year [1]. - Total investment income reached 41.478 billion yuan, marking a 42.7% increase compared to the previous year [4]. Group 2: Insurance Premium Growth - CPIC's insurance service revenue for the first half of 2025 was 280.25 billion yuan, reflecting a year-on-year growth of 7.1% [2]. - The original insurance premium income was 454.625 billion yuan, with a year-on-year increase of 6.4% [2]. - The property insurance segment generated original premium income of 323.282 billion yuan, a 3.6% increase year-on-year, maintaining a market share of 33.5% [2]. Group 3: Life Insurance Performance - The life insurance segment showed positive growth, with original premium income of 90.513 billion yuan, up 14.5% year-on-year [3]. - First-year premium income reached 22.682 billion yuan, increasing by 25.6% [3]. - Renewal premium income was 49.251 billion yuan, reflecting an 11.7% growth [3]. Group 4: Investment Asset Management - As of June 30, 2025, CPIC's investment asset scale exceeded 1.7 trillion yuan, growing by 7.2% since the beginning of the year [1]. - The average total investment return over the past three years was reported at 4.5% [4]. - The asset management segment under CPIC had an asset scale of 1.94 trillion yuan, with a 2.3% increase from the start of the year [4].

北京商报讯（记者李秀梅）8月27日，中国人民保险集团股份有限公司发布2025年中期业绩。人保寿险 方面，2025年上半年，受首年期交和续期保费的共同拉动，人保寿险实现原保险保费收入905.13亿元， 同比增长14.5%；首年期交保费226.82亿元，同比增长25.6%；续期保费492.51亿元，同比增长11.7%； 实现半年新业务价值49.78亿元，可比口径下同比增长71.7%。 （文章来源：北京商报） ...