违规操作被警示、净利下滑七成 爱举牌的长城人寿如何练好“内功”

Core Viewpoint - The surge in insurance companies acquiring stakes in listed firms is accompanied by compliance issues, as evidenced by the warning letter issued to Great Wall Life Insurance by the Hebei Securities Regulatory Bureau due to violations in stock trading practices [1][2]. Compliance Issues - Great Wall Life Insurance has been labeled an "acquisition giant" due to its frequent stake purchases in various listed companies, yet it faces significant internal compliance failures, particularly highlighted by its failure to halt trading after reaching a 5% stake in New Tian Green Energy [2][3]. - The Hebei Securities Regulatory Bureau emphasized the importance of adhering to information disclosure and trading restrictions to ensure market fairness and investor rights [2]. Financial Performance - Despite its active participation in the capital market, Great Wall Life Insurance reported a significant decline in both premium income and net profit, with a 5.92% decrease in insurance business revenue to 21.455 billion yuan and a 70.92% drop in net profit to approximately 156 million yuan in the first three quarters [4]. - The company experienced a 12.46% decline in signed premium income, with new policy premiums down 43.04% year-on-year, while renewal premiums increased by 9.50% [4][5]. Strategic Adjustments - In response to external economic pressures, Great Wall Life Insurance plans to undergo a product structure transformation, focusing on dividend-type products and reducing the sale of fixed-income products [5]. - The company aims to enhance its profit management capabilities through a dual approach of asset and liability management, while also addressing the challenges posed by a competitive insurance market [4][5]. Regulatory Penalties - Great Wall Life Insurance has faced multiple regulatory penalties for compliance failures, including a fine for providing external benefits to policyholders and another for improper sales practices [6]. - The company acknowledges the need for improvement in its compliance management system and is implementing measures to enhance internal controls and prevent future violations [6].