Core Insights - The insurance asset management industry has shown overall growth in revenue and net profit for 2024, with 34 institutions reporting a total revenue of 41.6 billion yuan, an increase of 14.4%, and a net profit of 18.4 billion yuan, up by 18.1% [1][3] Group 1: Performance of Major Institutions - China Life Asset Management remains the leader in both revenue and net profit for 2024, achieving a revenue of 6.703 billion yuan, a year-on-year increase of 27.5%, and a net profit of 3.857 billion yuan, up by 34.1% [3][4] - TaiKang Asset ranks second in both revenue and net profit, with a revenue of 6.282 billion yuan, a growth of 23.1%, and a net profit of 2.843 billion yuan, increasing by 36.6% [3][4] - Ping An Asset's revenue and net profit have declined, with figures of 4.045 billion yuan and 2.451 billion yuan respectively, leading to a drop in rankings [3][4] Group 2: Industry Trends and Challenges - The total asset management scale of the top three insurance asset management companies exceeds 16 trillion yuan, with at least eight companies managing over 1 trillion yuan [2][6] - The majority of institutions have reported growth, but some, like Zhongying Yili Asset, have seen significant declines, with revenues and profits dropping by approximately 40% and 80% respectively [5][6] - The industry faces challenges in alternative asset management, particularly in debt investment plans and equity investment business, which are struggling due to low withdrawal rates and a cooling primary market [5][6] Group 3: Asset Management Scale - As of the end of 2023, eight insurance asset management institutions have surpassed a management scale of 1 trillion yuan, including China Life Asset, Ping An Asset, and TaiKang Asset [6][7] - The median asset management scale among 35 institutions is 326.8 billion yuan, indicating that half of the companies manage less than this amount [7][8]
保险资管机构年报亮相:业绩两极分化 8家管理规模超万亿