Xin Lang Cai Jing·2025-11-03 09:30Core Insights - The five major listed insurance companies in A-shares reported impressive performance for the first three quarters of 2025, with a total net profit of 426.04 billion yuan, a significant increase of 33.5% year-on-year, averaging about 1.56 billion yuan per day [1][2] Financial Performance - China Life led with a net profit of 167.80 billion yuan, a year-on-year increase of 60.5%, followed by New China Life, China Pacific Insurance, China Ping An, and China Property & Casualty, all achieving double-digit growth [2][3] - In Q3 2025, the net profits of these five companies surged, with year-on-year growth rates of 91.5% for China Life, 88.2% for New China Life, 48.7% for China Property & Casualty, 35.2% for China Pacific Insurance, and 45.4% for China Ping An [2] Investment Performance - The substantial increase in investment income was attributed to the recovery of the stock market, with companies actively increasing equity investments [1][3] - For the first three quarters, China Life reported total investment income of 368.55 billion yuan, a 41.0% increase year-on-year, with an investment return rate of 6.42%, up 104 basis points [3][4] New Business Value - All five listed insurance companies reported new business value growth exceeding 30% in the first three quarters [5] - China Property & Casualty achieved the highest growth rate in new business value at 76.6%, while China Life and New China Life reported increases of 41.8% and 50.8%, respectively [5][6] - The focus on dividend insurance is driving the transformation of the business structure towards "floating income" products, with China Life significantly increasing the proportion of floating income business in its first-year premium income [5][6]