偿付能力季度报告摘要节录 太平洋健康保险股份有限公司 Pacific Health Insurance Co., Ltd. 2025 年第 3 季度 公司简介和报告联系人 | 公司名称（中文）： | 太平洋健康保险股份有限公司 | | --- | --- | | 公司名称（英文）： | Pacific Health Insurance Co., Ltd. | | 法定代表人： | 马欣 | | 注册地址： | 上海市黄浦区中山南路 1 号 7-9F | | 注册资本： | 36 亿元人民币 | | 经营保险业务许可证号： | 00000117 | | 开业时间： | 二零一四年十二月 | | 经营范围： | 各种人民币和外币的健康保险业务、意外伤 | | | 害保险业务；与国家医疗保障政策配套、受 | | | 政府委托的健康保险业务；上述业务的再保 | | | 险业务；与健康保险有关的咨询服务业务及 | | | 代理业务；国家法律、法规允许的保险资金 | | | 运用业务；中国保监会批准的其他业务。 | | 经营区域： | 上海市、北京市、广东省和四川省 | | 报告联系人姓名： | 夏冰 | | 办公室电话 ...

2025 年第 3 季度 公司简介和报告联系人 | 公司名称： | 中国太平洋人寿保险股份有限公司 | | --- | --- | | 公司英文名称： | China Pacific Life Insurance Co., Ltd. | | 法定代表人： | 李劲松 | | 注册地址： | 上海市黄浦区寿宁路 号 71 | | 注册资本： | 亿元人民币 86.282 | | 经营保险业务许可证号： | 000015 | | 开业时间： | 二零零一年十一月 | | | 承保人民币和外币的各种人身保险业务，包括人寿保 | | | 险、健康保险、意外伤害保险等业务，办理上述业务的 | | | 再保险业务，办理各种法定人身保险业务，与国内外保 | | | 险及有关机构建立代理关系和业务往来关系，代理外国 | | 经营范围： | 保险机构办理对损失的鉴定和理赔业务及其委托的其他 | | | 有关事宜，《保险法》及有关法律、法规规定的资金运 | | | 用业务，经批准参加国际保险活动，经中国保监会批准 | | | 的其他业务。【依法须经批准的项目，经相关部门批准 | | | 后方可开展经营活动】 | | | 北京市、 ...

证券代码：601601 证券简称：中国太保 公告编号：2025-061 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。 中国太平洋保险（集团）股份有限公司 日常关联交易公告 重要内容提示： 交易内容：中国太平洋保险（集团）股份有限公司（简称"公司"或"本 公司"）及控股子公司与关联人进行资金运用、销售金融产品与再保险业务相关 的日常关联交易。 对本公司的影响：该等资金运用、销售金融产品与再保险业务日常交易 的安排有利于提高本公司及控股子公司与关联人日常关联交易的决策和执行效 率，也有利于本公司及控股子公司资金运用、销售金融产品与再保险业务的开展， 符合本公司及控股子公司的整体利益。 本次交易无需提交股东大会审议。 一、日常关联交易基本情况 （一）日常关联交易履行的审议程序 重要提示 本公司于2025年10月30日召开了第十届董事会第十八次会议，审议并通过了 《关于中国太平洋保险（集团）股份有限公司日常关联交易的议案》，同意本公 司及控股子公司2026年就资金运用、销售金融产品与再保险业务与关联人之间的 关联交易额度上限。关联董 ...

公司简介和报告联系人 偿付能力季度报告摘要节录 中国太平洋财产保险股份有限公司 China Pacific Property Insurance Company Limited 2025 年 3 季度 | 公司名称（中文）： | 中国太平洋财产保险股份有限公司 | | --- | --- | | 公司名称（英文）： | China Pacific Property Insurance Company | | | Limited | | 法定代表人： | 俞斌 | | 注册地址： | 中国（上海）自由贸易试验区银城中路 190 号 | | | 交银大厦南楼 | | 注册资本： | 199.48 亿元人民币 | | 经营保险业务许可证号：000014 | | | 开业时间： | 二零零一年十一月 | | 经营范围： | 财产损失保险；责任保险；信用保险和保证保 | | | 险；短期健康保险和意外伤害保险；上述保险 | | | 业务的再保险业务；国家法律、法规允许的保 | | | 险资金运用业务；经中国保监会批准的其他业 | | | 务。 | | 经营区域： | 中华人民共和国境内(港、澳、台地区除外) | | 报 ...

偿付能力季度报告摘要节录 太平洋安信农业保险股份有限公司 Pacific Anxin Agricultural Insurance Co., Ltd. 2025 年第 3 季度 公司简介和报告联系人 | 公司名称： | 太平洋安信农业保险股份有限公司 | | --- | --- | | 公司英文名称： | Pacific Anxin Agricultural Insurance | | | Company Limited | | 法定代表人： | 宋建国 | | 注册地址： | 上海市静安区共和新路 3651 号 | | 注册资本： | 亿元人民币 10.8 | | 经营保险业务许可证号： | 00000089 | | 开业时间： | 二零零四年九月 农业保险；财产损失保险；责任保险；法 | | | 定责任保险；信用保险和保证保险；短期 | | | 健康保险和意外伤害保险；其他涉及农村、 | | 经营范围： | 农民的财产保险业务；上述业务的再保险 | | | 业务；保险兼业代理业务[依法须经批准的 | | | 项目，经相关部门批准后方可开展经营活 | | | 动，具体经营项目以相关部门批准文件或 | | | ...

Core Insights - China Pacific Insurance (601601.SH) reported a revenue of 344.9 billion yuan for the first three quarters of 2025, representing a year-on-year growth of 11.1% [1] - The net profit attributable to shareholders reached 45.7 billion yuan, marking a year-on-year increase of 19.3% [1] - In the third quarter alone, the company achieved a revenue of 144.4 billion yuan, with a year-on-year growth of 24.6% [1] - The net profit for the third quarter was 17.8 billion yuan, reflecting a year-on-year increase of 35.2% [1] - The growth in performance is primarily attributed to the rise in capital markets and the improvement in insurance service performance [1]

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，對其準確 性或完整性亦不發表任何聲明，並明確表示，概不就因本公告全部或任何部份內容而產生或 因倚賴該等內容而引致之任何損失承擔任何責任。 中國太平洋保險（集團）股份有限公司 CHINA PACIFIC INSURANCE (GROUP) CO., LTD. （於中華人民共和國註冊成立的股份有限公司） （股份代號：02601） 2025 年第三季度報告 本公告由中國太平洋保險（集團）股份有限公司（「本公司」）根據《證券及期貨條例》 第 XIVA 部及香港聯合交易所有限公司證券上市規則第 13.09 條及第 13.10B 條而作出。 本公司 2025 年第三季度報告所載財務資料根據中國企業會計準則編制，且未經審計。 §1 重要提示 1.1 本公司董事會、監事會及董事、監事、高級管理人員保證季度報告內容的真實、準確、 完整，不存在虛假記載、誤導性陳述或者重大遺漏，並承擔個別和連帶的法律責任。 1.2 本公司第十屆董事會第十八次會議於 2025 年 10 月 30 日審議通過了本公司《2025 年 第三季度報告》。應出席會議的董事 13 人，親自 ...

Core Viewpoint - The insurance sector experienced a decline of 0.98% on October 30, with China Life leading the drop, while the overall market indices also fell [1]. Group 1: Market Performance - The Shanghai Composite Index closed at 3986.9, down 0.73% - The Shenzhen Component Index closed at 13532.13, down 1.16% [1]. Group 2: Individual Stock Performance - New China Life (601336) closed at 70.90, up 1.21% with a trading volume of 315,600 shares and a turnover of 2.262 billion yuan - China Pacific Insurance (601601) closed at 37.75, up 0.40% with a trading volume of 529,600 shares and a turnover of 2.009 billion yuan - Ping An Insurance (601318) closed at 58.65, down 0.51% with a trading volume of 745,700 shares and a turnover of 4.424 billion yuan - China Reinsurance (601319) closed at 8.70, down 1.47% with a trading volume of 729,500 shares and a turnover of 643 million yuan - China Life Insurance (601628) closed at 44.38, down 1.86% with a trading volume of 206,000 shares and a turnover of 926.76 million yuan [1]. Group 3: Capital Flow Analysis - The insurance sector saw a net inflow of 260 million yuan from institutional investors, while retail investors experienced a net inflow of 33.01 million yuan - However, speculative funds recorded a net outflow of 293 million yuan [1]. Group 4: Detailed Capital Flow by Company - China Pacific Insurance (601601) had a net inflow of 216 million yuan from institutional investors, but a net outflow of 109 million yuan from speculative funds - New China Life (601336) had a net inflow of 123 million yuan from institutional investors, with a net outflow of 9.31 million yuan from speculative funds - China Reinsurance (601319) experienced a net outflow of 2.81 million yuan from institutional investors, but a net inflow of 37.96 million yuan from retail investors - Ping An Insurance (601318) had a net outflow of 21.07 million yuan from institutional investors and 119 million yuan from speculative funds, with a net inflow of 14 million yuan from retail investors - China Life Insurance (601628) had a net outflow of 55.69 million yuan from institutional investors, a net outflow of 20.94 million yuan from speculative funds, and a net inflow of 76.62 million yuan from retail investors [2].

Investment Rating - The report maintains an "Overweight" rating for the industry [1] Core Insights - The recent meeting of the Life Insurance Industry Liability Reserve Assessment Rate Expert Consultation Committee expressed a more positive outlook compared to the previous quarter, indicating a reduced likelihood of adjustments to the upper limit of the preset interest rate in the medium term [4][5] - The preset interest rate research value for ordinary life insurance products is currently at 1.90%, down from 1.99% in the previous quarter, reflecting a year-on-year decrease of 9 basis points [4] - The report highlights that the long-end interest rates have stabilized since the beginning of 2025, with the decline in preset interest rates showing a narrowing trend [4] Summary by Sections Industry Overview - The total market capitalization of the industry is 33,163.22 billion [1] - The report notes that the financial regulatory authority has issued a notification to establish a mechanism linking preset interest rates with market rates, which is expected to guide companies in prudent pricing and asset-liability management [4][8] Market Trends - The meeting's statements have shifted from concerns about continuous declines in medium to long-term interest rates to a more optimistic view on the resilience and vitality of the national economy [4] - The report suggests that if long-end interest rates remain stable, the preset interest rate for 2026 may not see significant adjustments, with a projected value of 1.87% by the end of 2026 [4][10] Investment Recommendations - The report recommends actively monitoring the valuation and performance elasticity of listed insurance companies, particularly focusing on companies such as New China Life Insurance, China Life Insurance, China Property & Casualty Insurance, Ping An Insurance, China Pacific Insurance, and AIA Group [4]

Core Viewpoint - The regulatory scrutiny in the insurance industry is intensifying, with a significant increase in penalties and a focus on financial data authenticity [1][3][4] Group 1: Regulatory Actions - The Shanghai branch of Guohua Life Insurance was fined 340,000 yuan for "unrealistic expense usage," and its director received a warning and a 50,000 yuan fine [1] - In the first three quarters of 2025, the total fines in the insurance industry exceeded 300 million yuan, marking a year-on-year increase of 9.64% [1] - The number of industry professionals banned from practice increased significantly, with 86 individuals facing bans ranging from one year to lifetime, more than double the 38 from the same period in 2024 [1][3] Group 2: Penalty Statistics - In Q3 2025, the insurance industry saw 632 penalties totaling 134 million yuan, affecting 369 institutions and 696 individuals [3] - September alone accounted for 30.91 million yuan in fines, a staggering year-on-year increase of 136.9% [3] - The most common violations were related to "five false" issues, including false expenses and claims, which are now a regulatory focus [3][4] Group 3: Individual Accountability - The regulatory approach has shifted to a dual penalty system targeting both institutions and individuals, with personal fines reaching 64.72 million yuan, accounting for 20.94% of total fines [4] - The number of bans and revocations of qualifications for individuals has increased, particularly for mid-to-senior management [4] - The structure of penalties has become pyramid-like, covering all levels from executives to frontline employees [4] Group 4: Regulatory Framework and Technology - The new "National Ten Articles" emphasizes strict market access, continuous supervision, and serious rectification of illegal activities in the insurance sector [5] - Regulatory technology is advancing, with systems like EAST and real-time monitoring tools being implemented to enhance oversight efficiency [5] - Shanghai has established a digital regulatory system capable of real-time monitoring of abnormal indicators, facilitating rapid inspections [5]