信美相互人寿首迎大考：创始舵手杨帆离任，胡晗接棒直面盈利挑战

Core Viewpoint - The management transition at Xinmei Mutual Life Insurance marks a significant change as the company faces challenges such as slowing premium growth and investment return pressures, reflecting the sustainability of the mutual insurance model in China [2][6][7]. Management Changes - Yang Fan resigned from all major positions at Xinmei Mutual Life Insurance, with Hu Han elected as the new chairman and CEO, indicating a shift in leadership at a critical juncture for the company [2][5]. - Hu Han has extensive experience in financial management and capital operations, having co-founded the company with Yang Fan in 2015 [4]. Company Performance - Xinmei Mutual Life Insurance has seen membership grow from 0 to 104,000 and total assets increase to 54.846 billion yuan, achieving profitability for five consecutive years since 2020 [5]. - Despite a projected 23% decline in insurance revenue to 6.983 billion yuan in 2024, the company managed a 16% increase in net profit to 66.72 million yuan, demonstrating effective cost control [5][6]. - The company reported a net investment return rate of 3.72% and a total investment return rate of 4.41% in 2024, although the first quarter of 2025 saw a negative return of -0.09% [6]. Strategic Adjustments - The company is proactively adjusting its business structure to ensure long-term stability, which includes controlling the scale and growth of new business [5]. - Xinmei Mutual Life Insurance is pursuing a light-asset model in the aging care industry, focusing on partnerships with third-party service providers to minimize capital investment [8][10]. New Partnerships - In February, Xinmei Mutual Life Insurance raised 325 million yuan by bringing in Inner Mongolia Shilin Investment Group as a significant operational fund provider, enhancing its capital base [9][10]. - The partnership with Shilin Group is expected to support the THH aging care strategy, providing resources to address challenges in third-party service collaboration [11].