Bei Jing Shang Bao·2025-09-02 12:11Core Viewpoint - The five major listed insurance companies in A-shares announced their mid-term profit distribution plan, with a total dividend amount of approximately 29.336 billion yuan (including tax) [1][3]. Group 1: Dividend Distribution - The five major listed insurance companies, excluding China Pacific Insurance, announced mid-term dividends, with China Ping An distributing 17.202 billion yuan, China Life 6.727 billion yuan, China Pacific Insurance 3.317 billion yuan, and New China Life 2.090 billion yuan [3][4]. - The total net profit of these five companies reached 178.192 billion yuan in the first half of the year, reflecting a year-on-year growth of 3.7% [3][5]. - The mid-term dividend distribution is seen as "stable and slightly positive," aligning with the companies' profitability while balancing shareholder returns and capital safety [3][4]. Group 2: Dividend Policy and Market Impact - The continuous dividend policy of these companies enhances market confidence and attracts long-term value investors, contributing to their market capitalization management [4]. - High dividends can improve shareholder returns but may restrict internal capital accumulation and potential investment capabilities [5]. - The implementation of new financial instrument standards has increased profit volatility, affecting the stability of dividend policies [5][6]. Group 3: Future Outlook - Despite increased profit volatility due to new financial standards, insurance companies are expected to maintain dividend policy continuity through smoothing mechanisms and adjusting dividend ratios [6]. - The industry is anticipated to focus more on shareholder returns, with a long-term goal of stable growth in per-share dividends [6].