金融监管总局：保险资金运用余额达到37.46万亿元

Core Insights - The total investment balance of insurance funds reached 37.46 trillion yuan by the end of Q3 2025, marking a 12.6% increase from the beginning of the year and a 3.4% increase from mid-year [1] - The investment in bonds remains the largest asset class, totaling 18.18 trillion yuan, which is a 14.1% increase from the beginning of the year [1] - There is a notable increase in stock investments, with a total of 5.59 trillion yuan, reflecting a 36.2% growth since the start of the year [2] Investment Trends - The investment balance for life insurance companies was 33.73 trillion yuan, while property insurance companies had 2.39 trillion yuan [1] - The proportion of investments in bonds slightly decreased to 48.5% from 49.3% in the previous quarter [1] - The allocation to bank deposits also saw a slight decline, with life insurance companies holding 2.49 trillion yuan and property insurance companies holding 374.2 billion yuan [1] Policy and Market Environment - The government has implemented measures to encourage long-term capital market entry, including increasing the equity asset allocation limits for insurance funds [3] - The overall market environment is improving, leading to expectations of further increases in the proportion of insurance funds invested in stocks [4]