Zhong Guo Jing Ji Wang·2025-05-13 01:39Core Viewpoint - In 2024, the insurance asset management industry achieved steady growth despite fluctuations in the equity market and declining government bond yields, with total revenue of approximately 41.6 billion yuan, a year-on-year increase of 14.4%, and net profit of about 18.4 billion yuan, up 18.1% [1][2][3] Revenue Summary - A total of 34 insurance asset management institutions reported their 2024 performance, with 21 institutions showing both revenue and net profit growth, while 9 institutions experienced declines in both metrics [1][2] - The top four insurance asset management companies, namely China Life Asset, Taikang Asset, China Life Investment, and Ping An Asset Management, generated revenues exceeding 4 billion yuan each, collectively accounting for over half of the industry's total revenue [1][2] - China Life Asset led the industry with a revenue of 6.702 billion yuan, followed by Taikang Asset at 6.282 billion yuan, China Life Investment at 4.233 billion yuan, and Ping An Asset Management at 4.045 billion yuan [1][2] Profit Summary - The concentration of net profit is even more pronounced, with the top four institutions (China Life Asset, Taikang Asset, Ping An Asset, and China Life Investment) achieving a combined net profit of 10.699 billion yuan, representing 60% of the industry's total [2][3] - China Life Asset reported a net profit of 3.856 billion yuan, ranking first, followed by Taikang Asset with 2.843 billion yuan, Ping An Asset with 2.451 billion yuan, and China Life Investment with 1.549 billion yuan [2][3] Growth Rate Analysis - The growth rates of revenue among leading insurance asset management institutions remained robust, with China Life Asset, China Life Investment, and Taikang Asset achieving double-digit growth rates of 27.5%, 28.22%, and 23.11% respectively [2][3] - Smaller institutions like Allianz Insurance Asset and China Post Insurance Asset reported remarkable growth rates exceeding 120% due to their lower revenue bases [2][3] Profit Growth Disparity - There is a significant disparity in net profit growth, with institutions like Guohua Xingyi, Hezhong Asset, and China Life Investment exceeding 50% growth, while about one-third of institutions reported negative growth [3] - The only institution reporting a loss was Taiping Capital, which experienced a loss of 16 million yuan, with a year-on-year increase in losses of 54.1% [3] Industry Outlook - The insurance asset management industry is expected to continue focusing on enhancing investment capabilities and expanding management scale in 2025, balancing stability and innovation [3][4] - The external and macroeconomic environment has increased volatility in major asset classes, necessitating careful asset allocation and management to align with the characteristics of insurance funds and long-term investment goals [4]