“茅台系”寿险公司再获批增资6亿！年内人身险机构补充资本超1144亿元

Core Viewpoint - Huagui Life Insurance has received approval from the Guizhou Financial Regulatory Bureau to increase its registered capital by 615 million yuan, raising it from 2 billion yuan to 2.615 billion yuan, as part of a larger fundraising plan aimed at enhancing its solvency and capital adequacy in response to regulatory requirements [1][9][10] Capital Increase and Fundraising Plans - The company plans to initiate a significant fundraising effort of 2.5 to 4.5 billion yuan by the end of 2024, which will increase its registered capital to between 4.5 billion and 6.5 billion yuan [1][9][10] - This recent capital increase follows a previous 1 billion yuan increase completed in April 2023, with participation from major shareholders including the Moutai Group [2][10] Financial Performance - For the first three quarters of 2025, Huagui Life Insurance reported an insurance business revenue of 4.523 billion yuan, a year-on-year increase of 31.03%, and a net profit of 183 million yuan, marking a return to profitability [1][5][13] - The company's investment yield was 4.28%, ranking 14th in the life insurance industry, while the comprehensive investment yield was 5.23%, ranking 8th [1][5][13] - Total assets reached 25.541 billion yuan, reflecting a growth of 17.45% from the beginning of the year, and net assets increased by 68.83% to 883 million yuan [5][13] Solvency and Regulatory Compliance - The core solvency adequacy ratio was reported at 118.8% and the comprehensive solvency adequacy ratio at 133.8% as of the end of the third quarter of 2025, indicating a slight improvement from the previous quarter [4][12] - The company is proactively addressing the upcoming "Solvency II Phase II" regulatory requirements, which mandate higher capital adequacy standards by the end of 2025 [3][11] Industry Context - As of December 15, 2025, the insurance industry has collectively supplemented capital by approximately 114.4 billion yuan, with life insurance companies being the primary contributors [7][15] - The trend in the industry shows a shift towards regular capital supplementation, with a significant portion of the capital coming from debt issuance and strategic equity increases [15][16]