Core Insights - The balance of investments in stocks and securities investment funds by insurance companies has reached a record high, with a total of 5.59 trillion yuan, accounting for 14.92% of the total investment balance, nearing the significant 15% threshold [1][2][3] Investment Trends - The proportion of investments in stocks and securities investment funds has surpassed the previous range of 11% to 14%, indicating a strategic shift in equity investment strategies by insurance capital [2][3] - As of the end of Q3, the total investment balance of insurance companies exceeded 37 trillion yuan, marking a year-on-year growth of 16.5% [2] - The investment balance in stocks and securities investment funds increased by 35.92% compared to the same period in 2024, with a quarterly increase of over 800 billion yuan [2][3] Company-Specific Investments - By the end of Q3, the investment balance in stocks and securities investment funds for life insurance companies was approximately 5.19 trillion yuan, representing 15.38% of their total investment balance, while property insurance companies had 405 billion yuan, accounting for 16.97% [3] - The enthusiasm for equity investments among insurance companies has surged this year, driven by low interest rates and new accounting standards, prompting a reallocation of assets [3] Increased Equity Investment Activity - Insurance capital has entered a "buying mode," with a record 31 instances of equity stakes taken this year, surpassing previous highs [4] - Notable recent investments include purchases by Changcheng Life and China Ping An, indicating ongoing aggressive positioning in the equity market [4] Performance and Returns - The recovery of the capital market has significantly boosted investment returns for insurance companies, contributing to record-high profits for several firms [4] - For instance, China Life reported a net profit of 167.8 billion yuan for the first three quarters, a 60.5% increase year-on-year, with total investment income reaching 368.6 billion yuan, up 41% from the previous year [4] Bond Investment Trends - The balance of investments in bonds remains the largest among all investment types, totaling 18.18 trillion yuan, although the proportion has slightly decreased to 48.52% [6] - Life insurance companies have a bond investment balance of 17.21 trillion yuan, with a proportion of 51.02%, while property insurance companies have 969.9 billion yuan, with a proportion of 40.62% [6] Bank Deposits - The proportion of investments in bank deposits for life and property insurance companies has continued to decline, standing at 7.37% and 15.67%, respectively [7]
险资“买买买”模式升级 股票和基金持仓再创新高
Zheng Quan Shi Bao·2025-11-16 22:24