智通财经APP讯，中国人寿(601628.SH)发布2025年三季度报告，该公司前三季度营业收入为5378.95亿 元，同比增长25.90%。归属于上市公司股东的净利润为1678.04亿元，同比增长60.50%。归属于上市公 司股东的扣除非经常性损益的净利润为1679.53亿元，同比增长60.50%。基本每股收益为5.94元。 ...

Core Insights - A-share insurance companies in China reported strong net profit growth for the first three quarters of the year, with a total net profit of 426.04 billion yuan, representing a year-on-year increase of 33.5% [1] - China Life Insurance led the sector with a net profit of 167.80 billion yuan, a significant increase of 60.5% compared to the previous year [1] - The robust performance is attributed to high investment returns and a favorable comparison to last year's high profit base [1] Investment Performance - China Life achieved total investment income of 368.55 billion yuan, up over 40%, with an investment return rate of 6.42% [2] - New China Life reported an annualized total investment return rate of 8.6% and a comprehensive investment return rate of 6.7% [2] - China Ping An's insurance fund investment performance improved significantly, with a non-annualized comprehensive investment return rate of 5.4%, an increase of 1.0 percentage points year-on-year [2] - China Pacific Insurance focused on long-term bond investments and increased equity holdings to optimize its investment structure [2] Business Performance - A-share insurance companies experienced significant growth in life insurance business, with China Life reporting total premiums of 669.65 billion yuan, a 10.1% increase [3] - China Life's new premium income reached 218.03 billion yuan, growing by 10.4% [3] - China Pacific Insurance's life insurance segment achieved a service income of 19.79 billion yuan, up 18.2%, with a new business value growth of 76.6% [3] - New China Life emphasized enhancing market competitiveness and reported steady growth in long-term premium business [3] Property Insurance Performance - The property insurance sector showed improved underwriting profits and a decrease in comprehensive cost ratios [4] - China Property & Casualty Insurance reported an underwriting profit of 14.87 billion yuan, a 130.7% increase, with a comprehensive cost ratio of 96.1%, down 2.1 percentage points [4] - China Ping An's property insurance segment achieved a premium income of 256.25 billion yuan, a 7.1% increase, with a comprehensive cost ratio of 97.0%, improving by 0.8 percentage points [4] - China Pacific Insurance's property insurance reported a premium income of 160.21 billion yuan, a slight increase of 0.1%, with a comprehensive cost ratio of 97.6%, down 1.0 percentage point [4]

Core Viewpoint - The profitability of major A-share listed insurance companies in China has reached a record high, with a significant increase in net profit for the first three quarters of 2025 compared to the same period last year, driven by strong investment returns and stable performance in the liability sector [1][3]. Group 1: Profitability Highlights - The five major A-share listed insurance companies achieved a total net profit of 4260.39 billion yuan in the first three quarters of 2025, an increase of over 100 billion yuan, representing a growth rate of 33.5% compared to the previous year [1][4]. - In the third quarter alone, the net profit of these companies grew by 68.3% year-on-year, showcasing a remarkable performance [1][4]. - Individual company performances include China Life with a net profit of 1678.04 billion yuan (up 60.5%), New China Life with 328.57 billion yuan (up 58.9%), and China Ping An with 1328.56 billion yuan (up 11.5%) for the first three quarters [2][4]. Group 2: Investment Performance - The increase in profitability is primarily attributed to substantial growth in investment returns, with companies actively increasing equity investments to capitalize on favorable market conditions [5][6]. - China Life reported total investment income of 3685.51 billion yuan, a year-on-year increase of 41.0%, with an investment return rate of 6.42% [5]. - China Ping An's investment portfolio achieved a non-annualized comprehensive investment return rate of 5.4%, up 1.0 percentage points year-on-year [5]. Group 3: Liability Sector Stability - The liability side of the business has also shown strong performance, with China Life's total premium income reaching 6696.45 billion yuan, a growth of 10.1% [7]. - New business value for Ping An's life and health insurance segment increased by 46.2%, indicating robust growth in new business [7]. - The shift towards floating income products is expected to enhance investment strategies and improve future profitability for insurance companies [7].

Core Insights - China Life Insurance reported a significant business development breakthrough in the first three quarters of 2025, with comprehensive improvements in operational quality and market leadership [1] Financial Performance - Total premium income reached 669.645 billion yuan, representing a year-on-year growth of 10.1% [1] - New single premium income was 218.034 billion yuan, with a year-on-year increase of 10.4% [1] - The total premium scale achieved a historical high for the same period, with total premiums, new single premiums, and renewal premiums all experiencing double-digit growth [1] Business Diversification - The company has made strides in diversifying its product offerings, with new single premium income contributions from life insurance, annuity insurance, and health insurance at 31.95%, 32.47%, and 31.15% respectively [1] - Strong growth in new business value was noted, with a 41.8% year-on-year increase compared to the same period in 2024 [1] Focus on Floating Income Products - The company has significantly developed floating income-type products, with their share in the first-year premium income increasing by over 45 percentage points compared to the previous year [1]

Core Insights - China Life Insurance reported its performance for the first three quarters, highlighting its strategic focus on the elderly care sector through various product lines [1] Group 1: Business Development - The company is actively advancing its CCRC elderly care community, urban elderly apartments, and health tourism product lines, with a total of 19 institutional elderly care projects established across 15 cities by June 30, 2025 [1] - Four "Flexible Living" travel products have been launched to cater to the needs of elderly customers [1] Group 2: Digital Transformation - The China Life Insurance app has been revamped, achieving over 160 million registered users by mid-2025 [1] - More than 760 service counters have undergone renovations, and the one-stop online customer service has seen a 30.3% increase in user interactions year-on-year [1] Group 3: Customer Engagement - The company has provided warm elderly care services to over 10.11 million people through various online and offline touchpoints [1] - Events such as the "GuoShou 616 Customer Festival" and "Listening to Experts on Immunity" have reached over 51.49 million customers, enhancing the value-added services offered [1] - The brand continues to emphasize "simplicity, quality, and warmth" in its service offerings, reinforcing the "GuoShou Good Service" brand image [1]

Core Viewpoint - China Life Insurance reported a net profit of 167.804 billion yuan for the first three quarters, marking a 60.5% increase compared to the same period last year, despite a high base from the previous year [1] Group 1: Financial Performance - The net profit attributable to shareholders for the first three quarters reached 167.804 billion yuan [1] - This represents a significant growth of 60.5% year-on-year [1] Group 2: Strategic Initiatives - The company has actively promoted the entry of medium to long-term funds into the market [1] - China Life is strategically positioning itself in new productivity-related sectors [1] - Continuous optimization of asset allocation structure has shown significant results [1]

Core Viewpoint - China Life Insurance reported strong growth in key financial metrics for the first three quarters of 2023, indicating robust business performance and financial health [1] Financial Performance - Total premium income, new premium income, and renewal premium income all achieved double-digit growth compared to the same period last year [1] - New business value increased significantly by 41.8% year-on-year for the first three quarters of 2023 [1] - Net profit attributable to shareholders exceeded 167.8 billion yuan, marking a 60.5% increase from the same period last year [1] Shareholder Equity and Capital Adequacy - Shareholder equity attributable to the parent company reached 625.83 billion yuan, reflecting a 22.8% increase from the end of the previous year [1] - The core solvency adequacy ratio stood at 137.50%, while the comprehensive solvency adequacy ratio was at 183.94%, indicating a strong capital position [1] Risk Rating - The company has maintained an A-class rating in the comprehensive risk assessment of insurance companies for 29 consecutive quarters [1]

北京商报讯（记者 胡永新）10月30日晚间，中国人寿公布了前三季度业绩报告。报告显示，截至2025 年9月30日，中国人寿总销售人力65.7万人，其中个险销售人力60.7万人，队伍规模继续稳居行业首位， 队伍质态不断改善，优增优育取得实效，优增人力、留存率同比提升明显。 ...

Core Insights - China Life Insurance reported a total investment income of 368.55 billion yuan for the first three quarters of 2025, an increase of 107.13 billion yuan compared to the same period in 2024, representing a growth rate of over 40% [1] - The total investment return rate reached 6.42%, reflecting a year-on-year increase of 104 basis points from the previous year [1] - The company's total assets as of September 30, 2025, amounted to 7,417.98 billion yuan, and investment assets reached 7,282.98 billion yuan, marking growth rates of 9.6% and 10.2% respectively compared to the end of 2024 [1] - Shareholder equity attributable to the parent company reached 625.83 billion yuan, a year-on-year increase of 22.8% [1] Financial Health - As of September 30, 2025, China Life maintained a high level of solvency, with a core solvency adequacy ratio of 137.50% and a comprehensive solvency adequacy ratio of 183.94% [1] - The company has maintained an A-class rating in the comprehensive risk assessment for insurance companies for 29 consecutive quarters [1]

Core Viewpoint - China Life Insurance Co., Ltd. announced a joint investment with related parties in a fund aimed at investing in sectors such as semiconductors, digital energy, and smart electric vehicles [1][5]. Group 1: Investment Details - The company plans to invest RMB 2 billion and its affiliate, Guoshou Industrial Investment Co., Ltd., will invest RMB 10 million in the Guoshou Investment - Yuanzhi Fund Equity Investment Plan [1][5]. - The investment will be made through a trust agreement with Guoshou Investment Insurance Asset Management Co., Ltd. [1][5]. Group 2: Purpose and Objectives - The primary purpose of this transaction is to implement the central government's decision to enhance financial services for the real economy and improve investment returns from insurance funds [5]. Group 3: Transaction Classification - This transaction constitutes a related party transaction but does not qualify as a major asset restructuring [6]. - The transaction does not meet the standards for shareholder meeting review [6].