Zheng Quan Ri Bao·2025-08-28 16:08Core Viewpoint - The five major A-share listed insurance companies reported a net profit of 178.19 billion yuan for the first half of 2025, reflecting a year-on-year growth of 3.7% [1] Group 1: Financial Performance - The overall net profit of A-share listed insurance companies showed a "four increases and one decrease" trend, with China Ping An leading at 68.05 billion yuan, followed by China Life at 40.93 billion yuan, China Pacific Insurance at 27.88 billion yuan, China Property & Casualty Insurance at 26.53 billion yuan, and New China Life at 14.8 billion yuan, which had the highest growth rate of 33.5% [2] - The new business value of life insurance for major listed insurers saw significant growth, with China Life's new business value increasing by 20.3% year-on-year to 28.55 billion yuan, and China Ping An's new business value growing by 39.8% [2][3] Group 2: Underwriting Business - The comprehensive cost ratio for property insurance businesses among China Property & Casualty, China Ping An, and China Pacific Insurance all decreased year-on-year, indicating improved underwriting profits [3][4] - China Property & Casualty's comprehensive cost ratio was 95.3%, the best level for the same period in nearly a decade, while China Ping An's was 95.2%, down by 2.6 percentage points [4] Group 3: Investment Activities - The insurance companies increased their equity market investments, achieving better investment returns, with China Life's net investment yield at 2.78% and total investment yield at 3.29% [5][6] - China Property & Casualty reported a 26.1% increase in A-share investment assets compared to the beginning of the year, with a 1.2 percentage point rise in the proportion of total investment assets [6][7]