Core Insights - The insurance asset management sector is experiencing a decline in debt investment plans, with a continuous drop for four years, while equity investment plans show a modest increase in scale [1][2]. Debt Investment Plans - In 2025, insurance asset management institutions registered 285 debt investment plans, a decrease of 24% year-on-year, with a total scale of 4419.05 billion yuan, down 28.46% [2]. - The number of registered debt plans is approximately 50% of the peak level in 2021, when it reached over 9600 billion yuan [2]. - The decline in debt plans is attributed to changes in financing structures, particularly in traditional sectors like real estate and infrastructure, which are undergoing adjustments [2]. - The average investment yield for debt plans in 2025 is reported at 3.61%, continuing a downward trend from over 4% in 2024 [4]. Equity Investment Plans - In contrast to debt plans, the equity investment plans and private equity funds are in a phase of exploration, with significant fluctuations in registration numbers and scales [5]. - In 2025, 22 equity investment plans were registered, marking an 83.33% increase year-on-year, with a total scale of 335.32 billion yuan, up 12.52% [5]. - The scale of individual equity investment plans varies significantly, with some as low as 1 billion yuan and others reaching up to 100 billion yuan [5]. Private Equity Funds - In 2025, seven insurance private equity funds were registered, with a total scale of 350.06 billion yuan, reflecting a decrease of 22.22% in quantity and 18.61% in scale year-on-year [6]. - The number of insurance private equity funds peaked between 2019 and 2022, but has since seen a reduction as previously established funds enter operational phases [6]. - The future development of insurance private equity funds is expected to stabilize as experience accumulates in the sector [6].
保险资管三类业务2025年登记信息出炉： 债权计划连跌4年 股权计划规模增12.52%
Zheng Quan Shi Bao Wang·2026-01-19 23:29