二、接此批复文件后，该机构应立即停止一切经营活动，于15个工作日内向天津金融监管局缴回许可 证，并按照有关法律法规要求办理相关手续。 2025年12月1日，天津金融监管局发布批复称，《关于撤销中国人寿（601628）保险股份有限公司天津 市蓟州区支公司第二营销服务部的请示》（国寿人险津发〔2025〕179号）收悉。经审核，现批复如 下： 一、同意撤销中国人寿保险股份有限公司天津市蓟州区支公司第二营销服务部。 ...

2025年12月3日，喀什金融监管分局发布批复称，《关于中国人寿（601628）财产保险股份有限公司叶 城县支公司变更营业场所的请示》（国寿财险喀发〔2025〕70号）收悉。经审核，现批复如下： 一、同意中国人寿财产保险股份有限公司叶城县支公司将营业场所变更为：新疆维吾尔自治区喀什地区 叶城县核桃大道180号。 二、中国人寿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。 ...

此外，为全力支持做好火灾善后安置工作，中国人寿海外公司代表中国人寿集团及其在港机构，向香港 特区政府设立的"大埔宏福苑援助基金"捐赠1000万港元，捐款主要用于受灾居民的紧急安置、基本生活 保障及灾后重建工作。#香港[超话]# 中经记者 陈晶晶 北京报道 12月7日，《中国经营报》记者从中国人寿集团方面获悉，事故发生后，中国人寿集团统筹联动中国人 寿海外公司、广发银行香港分行、中国人寿富兰克林资管公司等驻港机构全力做好理赔及金融服务工 作，并采取必要措施支持灾后重建，帮助受灾同胞早日渡过难关。 中国人寿集团方面表示，经中国人寿海外公司积极排查，登记地址为事故屋苑的个险保单共计372份。 公司收到与本次事件相关的理赔申请后，简化相关流程，用最快时间完成理赔流程及全额赔付处理，并 完成针对此次事件的保单贷款申请，助力客户应对紧急资金需求。 【中国人寿集团：登记地址为香港宏福苑的个险保单共计372份】中国香港新界大埔屋邨宏福苑多栋住 宅楼发生火灾，造成重大人员伤亡，事故牵动着无数人的心。 ...

Core Viewpoint - The introduction of specialized trademark insurance by China Life Property & Casualty Insurance aims to protect companies like Shandong Dezhou Chicken Co., Ltd. from trademark infringement risks, supported by a 60% government subsidy on premiums [1][5]. Group 1: Company Overview - Shandong Dezhou Chicken Co., Ltd. was established in 2010 and has received multiple accolades, including being recognized as a "Chinese Time-honored Brand" and a national key leading enterprise in agricultural industrialization [2]. - The company has a history of over 300 years and has modernized its production techniques while maintaining its traditional craft [2]. - The company faces significant challenges from trademark infringements, with over a hundred incidents reported in 2024 alone, impacting its reputation and incurring high legal costs [2]. Group 2: Insurance Product Development - China Life Property & Casualty Insurance has identified a gap in the market for intellectual property protection and has developed tailored insurance products, including trademark and patent infringement insurance [3]. - The insurance covers direct economic losses and related legal costs incurred due to trademark infringements, providing a safety net for companies like Dezhou Chicken [3][4]. - Other companies, such as Dezhou Shenggang Paper Co., Ltd. and Shandong Century Star Sports Equipment Co., Ltd., have also adopted similar insurance products to protect their patents and trademarks [4]. Group 3: Government Support and Industry Impact - The Shandong provincial government offers a 60% subsidy on insurance premiums for companies that invest in intellectual property insurance, promoting innovation and economic development [5]. - The initiative is part of a broader strategy to support "specialized, refined, and innovative" enterprises, which are seen as vital for high-quality economic growth [5].

12月8日金融一线消息，国家金融监督管理总局新余监管分局行政处罚信息公开表显示，中国人寿保险 股份有限公司新余分公司因代理人管理不到位，被国家金融监督管理总局新余金融监管分局给予警告， 罚款1万元；王雅凤被禁止进入保险业5年。 12月8日金融一线消息，国家金融监督管理总局新余监管分局行政处罚信息公开表显示，中国人寿保险 股份有限公司新余分公司因代理人管理不到位，被国家金融监督管理总局新余金融监管分局给予警告， 罚款1万元；王雅凤被禁止进入保险业5年。 | 序号 | 当事人名称 | 主要违法违规行为 | 行政处罚内容 | 作出决定机关 | | --- | --- | --- | --- | --- | | 1 | 中国人寿保 险股份有限 公司新余分 | 代理人管理不到位 | 对中国人寿保险股 份有限公司新余分 公司给予警告,罚 款1万元;对王雅 | 国家金融监督 管理总局新余 | | | 公司及相关 | | 凤禁止进入保险业 | 金融监管分局 | | | 责任人 | | 5年 | | 责任编辑：李琳琳 | 序号 | 当事人名称 | 主要违法违规行为 | 行政处罚内容 | 作出决定机关 | | --- | --- ...

Group 1 - The core viewpoint of the news is that the recent regulatory adjustments by the National Financial Regulatory Administration are aimed at encouraging insurance capital to enter the market, which has led to a significant increase in the performance of the securities and insurance sector, as evidenced by the rise in the CSI 800 Securities and Insurance Index by 2.91% [1] - The adjustment of risk factors for insurance companies' long-term holdings in specific indices, including a 10% reduction in solvency risk factors, is expected to slightly improve solvency and reflects a supportive regulatory attitude towards long-term investments [1] - The emphasis on dividend stocks in the notification aligns with the current trend of insurance companies focusing on dividend stock investments, indicating a strategic direction for the insurance industry [1] Group 2 - The CSI 800 Securities and Insurance Index is designed to provide investors with a diversified investment target by selecting securities from the securities and insurance industry based on the CSI 800 Index [2] - As of November 28, 2025, the top ten weighted stocks in the CSI 800 Securities and Insurance Index account for 63.12% of the index, with major companies including China Ping An, Dongfang Wealth, and CITIC Securities [2]

李鹏总经理在致辞中指出，作为中国人寿集团旗下专业的资产管理平台，中国人寿资产公司始终秉 承"服务国家战略、支持实体经济"的使命，充分发挥保险资金长期、稳定、规模大的独特优势，致力于 通过创新投资推动产业与资本深度融合，表示将与广发银行南京分行在江苏这片发展热土上深入耕耘， 以"耐心资本"的信念，积极助力江苏的产业升级、科技创新与经济发展。 座谈会上，中国人寿资产公司的投资经理围绕保险资金投资及优秀案例进行专题宣讲和分享，并就如何 加强与产业投资、政府基金合作开展交流。来自江苏省内的扬州产控集团、扬州国金集团等产业投资机 构以及徐州产发基金、无锡创投、盐城创投、南京金鱼嘴创投、淮安淮上英才创投、扬州龙川控股等政 府基金管理人围绕S基金接续投资、并购基金、产业基金以及重点项目投资等开展了项目现场对接和深 入交流。 本次座谈会是广发银行南京分行与中国人寿资产公司深化投贷联动，服务江苏经济高质量发展的具体实 践。广发银行南京分行将以此次活动为契机，发挥科技金融、综合金融优势，带动更多优质金融资源落 地江苏，持续强化对科技创新、产业升级及重大项目的精准支持，全面提升金融服务质效，做好金 融"五篇大文章"，为"强富美高" ...

12月7日，《中国经营报》记者从中国人寿集团方面获悉，事故发生后，中国人寿集团统筹联动中国人 寿海外公司、广发银行香港分行、中国人寿富兰克林资管公司等驻港机构全力做好理赔及金融服务工 作，并采取必要措施支持灾后重建，帮助受灾同胞早日渡过难关。 中国人寿集团方面表示，经中国人寿海外公司积极排查，登记地址为事故屋苑的个险保单共计372份。 公司收到与本次事件相关的理赔申请后，简化相关流程，用最快时间完成理赔流程及全额赔付处理，并 完成针对此次事件的保单贷款申请，助力客户应对紧急资金需求。 中国香港新界大埔屋邨宏福苑多栋住宅楼发生火灾，造成重大人员伤亡，事故牵动着无数人的心。 此外，为全力支持做好火灾善后安置工作，中国人寿海外公司代表中国人寿集团及其在港机构，向香港 特区政府设立的"大埔宏福苑援助基金"捐赠1000万港元，捐款主要用于受灾居民的紧急安置、基本生活 保障及灾后重建工作。 （文章来源：中国经营报） ...

Core Viewpoint - The A-share market's insurance stocks have shown strong performance, driven by regulatory changes that lower risk factors for long-term equity holdings by insurance companies, encouraging long-term capital investment [1][2]. Group 1: Market Performance - Insurance stocks collectively strengthened, with China Ping An leading the gains at 2.6%, followed by New China Life and China Pacific Insurance, both rising over 2% [1]. - Year-to-date performance shows significant increases, with China Ping An up 26.37%, New China Life up 42.22%, and China Pacific Insurance up 16.02% [2]. Group 2: Regulatory Changes - The National Financial Regulatory Administration announced a policy on December 5, 2025, adjusting risk factors for insurance companies holding specific A-shares for a certain period, which will positively impact their solvency ratios [1]. - This policy is seen as a measure to encourage long-term capital into the market, providing additional incentives for insurance companies to increase equity allocations [1]. Group 3: Industry Outlook - CICC's report anticipates a "golden era" for the life insurance industry by 2026, with a more positive trend in liabilities and a shift in investment logic towards valuing growth capabilities [1]. - High-quality life insurance companies are expected to regain their valuation targets, with P/EV ratios projected to exceed 1.0x [1].

Summary of Conference Call on Non-Banking Sector Industry Overview - The conference call focused on the non-banking sector, particularly the insurance and brokerage industries in China for the year 2025 [1][2][3]. Key Points and Arguments 1. **Market Activity and Performance**: The non-banking sector's performance in 2025 is driven by market trading activity, benefiting brokerage businesses, proprietary trading, and insurance companies' equity investment returns. The sector is expected to see a significant inflow of approximately 1,000 billion CNY due to new policies encouraging long-term holdings [1][2][8]. 2. **Regulatory Changes**: The China Securities Regulatory Commission (CSRC) has optimized the equity allocation coefficient for insurance funds, potentially releasing around 108.6 billion CNY into the market. This policy encourages long-term stock holdings, particularly benefiting the CSI 300 and the CSI Dividend Low Volatility Index [1][4][10]. 3. **Insurance Companies' Position**: China Life is highlighted as having a high capital ratio for domestic equity price risk, suggesting significant potential for benefit from policy adjustments. China Ping An and New China Life, which have actively acquired bank shares, are also expected to gain from the optimized equity allocation [1][5][10]. 4. **Brokerage Recommendations**: The call recommends several brokerage firms, including Huatai Securities, Tonghuashun, and Dongfang Caifu, as they are well-positioned to perform well in the current market environment [1][6][12]. 5. **Challenges in the Insurance Sector**: The insurance industry faces a triangular dilemma involving solvency, equity allocation, and a low-interest-rate environment. Solutions include regulatory adjustments or capital increases. It is anticipated that insurance companies will increase capital in 2026 primarily due to regulatory encouragement to boost stock allocations [1][9][10]. 6. **Market Trends**: The performance of the non-banking sector can be divided into two phases in 2025. The first phase saw low trading volumes and declining long-term interest rates, leading to weaker performance in insurance and brokerage sectors. The second phase, particularly from May to August, experienced a rebound driven by strong mid-year reports from insurance companies and increased trading volumes [2][3][11]. 7. **Future Outlook**: The non-banking sector's future development will continue to be influenced by policy optimization and increased market trading activity. The focus will remain on long-term holdings, with specific recommendations for China Life, China Ping An, Huatai Securities, Tonghuashun, and Dongfang Caifu [1][8][12]. Additional Important Insights - The CSRC's recent policy changes signal a stronger commitment to supporting the A-share market, particularly for the CSI 300 and CSI Dividend Low Volatility Index components [4][10]. - The insurance sector's increasing involvement in the stock market is expected to enhance their market influence and performance metrics, particularly for China Life and China Ping An [10][11]. - The brokerage sector's performance has lagged behind expectations, with opportunities arising from regulatory easing and potential mergers and acquisitions among leading firms [3][11][12].