长城人寿董事长白力：锚定两大核心赛道，打造家庭保障新范式

Core Viewpoint - The insurance industry is at a critical juncture, shifting from a growth-oriented logic to a value-driven logic focused on survival and development, emphasizing the need for stability and specialization to build sustainable advantages during cyclical fluctuations [1][3]. Industry Trends - The Chinese economy is undergoing a transformation towards high-quality development, necessitating insurance companies to integrate into the modernization process of China, thereby realizing their value through service to the real economy, social security enhancement, and participation in social governance [1][3]. - The long-term low interest rate environment has rendered the previous growth model reliant on interest spreads unsustainable, while demographic aging has created significant demand for pension and healthcare services [3][4]. Company Strategy - The company has established a strategic transformation direction centered on capital safety, prioritizing long-term value over short-term premium scale [3][4]. - Long-term investment strategies include a "dumbbell" approach, balancing long-duration bonds and high-grade credit bonds with equity investments focused on high-dividend, low-valuation companies and strategic emerging industries [4][5]. Focus on Pension Finance - The company views pension finance as a critical area for high-quality development, aiming to create a comprehensive solution that integrates insurance payments with health and wellness services [6][7]. - The company has initiated product and service innovations in the pension finance sector, including a series of ecological service systems and long-term investments in pension institutions in key cities [6][7]. Technological Integration - The company is leveraging AI technology to enhance operational efficiency and reshape the insurance business model, aiming for personalized service and comprehensive family protection [7][8]. - Future plans include optimizing AI applications in pricing, health management, and pension solutions, while ensuring data security and algorithm governance [8][10]. Industry Outlook - The current phase of the industry is characterized by a return to core values and a redefinition of development logic, driven by regulatory guidance and market demand [9][10]. - The company plans to launch a new five-year plan in 2026, focusing on safety, transformation, customer-centricity, and digital intelligence as key pillars for systematic transformation [10].