Cai Jing Wang·2025-06-20 08:53Regulatory Developments - The Financial Regulatory Bureau has approved AIA Life and Netherlands Global Life to establish an insurance asset management company in Shanghai [1] - The "Action Plan to Support the Construction of Shanghai International Financial Center" aims to further attract insurance institutions to Shanghai [1] Industry Trends - The pilot reform for long-term investment of insurance funds has progressed, with an additional 22.5 billion yuan expected to be invested by New China Life and China Life in a private equity fund [2] - In 2025, 403 new life insurance products have been launched, with participating insurance accounting for 37% of the total, indicating a shift towards this product type due to its fixed and floating income mechanism [3] - A new round of insurance product interest rate adjustments has begun, with a recent product launch featuring a 1.5% interest rate, down from the previous 2% cap [4] Company Performance - China Pacific Insurance reported a premium income of 134.79 billion yuan from January to May 2025, a year-on-year increase of 10.2% [5] - ZhongAn Online reported a total premium income of approximately 13.91 billion yuan for the same period, reflecting a 13% year-on-year growth [5] - Fuzhou Life Insurance has been officially established, with plans for its vice president to potentially become the president, indicating a strategic move in the insurance market [6]