2 1 Shi Ji Jing Ji Bao Dao·2025-08-29 10:04Core Viewpoint - China People's Insurance Group Co., Ltd. (China PIC) reported strong financial performance for the first half of 2025, with significant growth in premium income and net profit, indicating a positive outlook for the insurance sector in China [1][10]. Financial Performance - In the first half of 2025, China PIC achieved original insurance premium income of CNY 454.625 billion, a year-on-year increase of 6.4% [1]. - The net profit for the same period was CNY 35.888 billion, reflecting a year-on-year growth of 17.8% [1]. - As of June 30, 2025, total assets reached CNY 1.87 trillion, up 6.3% from the beginning of the year [1]. - Investment assets exceeded CNY 1.7 trillion, growing by 7.2% year-to-date, with total investment income of CNY 41.478 billion, a 42.7% increase year-on-year [1][11]. Strategic Focus - The company emphasized three strategic areas for enhancing its operations: strengthening insurance coverage, improving development quality, and deepening reforms [2][3]. - Insurance liability amounts reached CNY 178 trillion, with claims payments of CNY 233.5 billion, marking increases of 6.9% and 14% respectively [2]. Non-Motor Insurance Developments - The non-motor insurance sector is expected to see the implementation of the "reporting and operation integration" policy by the fourth quarter of 2025, which aims to stabilize market order and improve underwriting capabilities [5][6]. - The company anticipates that this policy will positively impact non-motor insurance performance in 2025 and significantly improve results in 2026 [6]. Life and Health Insurance Growth - In the life insurance segment, premium income reached CNY 90.513 billion, a 14.5% increase, with new business value rising by 71.7% to CNY 4.978 billion [7]. - Health insurance premiums totaled CNY 40.654 billion, up 12.2%, indicating strong growth potential in the health insurance market driven by aging population and increasing demand for long-term care [8]. Investment Strategy - The company has increased its investment in high-dividend stocks, which are expected to provide stable returns amid declining yields from traditional fixed-income assets [11][12]. - China PIC plans to enhance its equity investment strategies and focus on high-potential investment targets that align with national strategic directions [12].