Zhong Guo Jing Ji Wang·2025-05-06 23:10Core Insights - Xinhua Insurance reported strong financial performance for Q1 2025, with original insurance premium income of 73.218 billion yuan, a year-on-year increase of 28% [1] - The company achieved an operating income of 33.4 billion yuan, up over 26% year-on-year, and a net profit attributable to shareholders of 5.882 billion yuan, reflecting a 19% increase [1] - For the full year 2024, Xinhua Insurance's operating income reached 132.555 billion yuan, a significant year-on-year growth of 85.3%, and net profit attributable to shareholders was 26.229 billion yuan, up 201.1% [2] Financial Performance - In Q1 2025, the first-year premium for long-term insurance was 27.236 billion yuan, showing a remarkable growth of 149.6%, with the first-year regular premium at 19.471 billion yuan, increasing by 117.3% [1] - The annual report for 2024 indicated that Xinhua Insurance's total assets reached 1.69 trillion yuan, with a net profit of 26.229 billion yuan, both marking historical highs [2] - The company reported a new business value of 6.253 billion yuan for 2024, reflecting a year-on-year growth of 106.8% [2] Investment and Solvency - Xinhua Insurance's comprehensive investment return rate for 2024 was 8.5%, a significant increase of 5.9 percentage points compared to the previous year [2] - The solvency ratios were robust, with a comprehensive solvency adequacy ratio of 217.55% and a core solvency adequacy ratio of 124.07% [2] - As of the end of 2024, the company's total liabilities were 1.596 trillion yuan, leading to a net asset value of 96.269 billion yuan, which decreased by 8.4% from the previous year [2] Comparison with Peers - Xinhua Insurance's net profit growth for 2024 outpaced that of four other major A-share listed insurance companies, with their respective net profits showing increases of 88.2%, 108.9%, 47.8%, and 64.9% [2] - The company's net asset value has decreased by 12.64% from its peak in 2021, now standing at 91.895 billion yuan [3] - Xinhua Insurance had the lowest net investment return rate among the five major listed insurance companies in 2024, recorded at 3.2%, down 0.2 percentage points from 2023 [3]