Zheng Quan Shi Bao Wang·2025-09-01 00:29Core Insights - The investment trends of listed insurance companies are gaining attention as they significantly increase their equity asset allocations, reflecting a positive outlook on the A-share market [1][2][3] Group 1: Investment Trends - As of the end of Q2 2025, five A-share listed insurance companies held over 1.8 trillion yuan in stock assets, an increase of over 400 billion yuan, representing a growth rate of 28.7% compared to the end of the previous year [1][2] - The equity asset allocation ratios for major insurance companies have increased, with China Life, Ping An, China Pacific, and China Property & Casualty reaching 13.6%, 12.6%, 11.8%, and 10.7% respectively, marking an increase of 0.9 to 2.7 percentage points from the previous year [2][3] - New China Life has the highest stock allocation ratio among listed insurers at 18.6%, despite a slight decrease of 0.2 percentage points from the previous year [2] Group 2: Investment Performance - The investment income of several listed insurance companies has significantly increased due to the recovery of the capital market, contributing to net profit growth [4][5] - In H1 2025, China Life reported total investment income of 127.5 billion yuan, a year-on-year increase of 4.2%, while China Property & Casualty and New China Life saw increases of 42.7% and 43.3% respectively [4] - New China Life's net profit grew by 33.5% in H1 2025, attributed to substantial investment performance improvements, with total investment income reaching 453 billion yuan, an increase of approximately 137 billion yuan [5] Group 3: Future Outlook - Insurance companies are optimistic about the equity market's future, with strategies focusing on enhancing equity asset allocations and optimizing investment structures [6][7] - The management of China Ping An expressed confidence in the stability and potential of the domestic equity market, highlighting opportunities in emerging industries such as artificial intelligence and advanced manufacturing [6] - China Pacific's management emphasized a balanced asset allocation strategy, combining long-term bonds with innovative high-quality assets to improve long-term investment returns [7]