独家｜债权计划、股权计划、私募基金……保险资管三类业务2025年登记数据出炉

Core Insights - The insurance asset management industry has registered a total of 314 debt investment plans, equity investment plans, and private equity funds in 2025, with a total scale of 510.443 billion yuan, representing a year-on-year decrease of 20.71% in quantity and 26.08% in scale [1] Debt Investment Plans - The number and scale of registered debt investment plans have decreased for the fourth consecutive year, with 285 plans registered in 2025, a year-on-year decrease of 24%, and a scale of 441.905 billion yuan, down 28.46% [3] - The decline in debt investment plans is attributed to changes in the economic financing structure, particularly in traditional industries like real estate and infrastructure, which are undergoing adjustment cycles and experiencing significant financing contractions [3] - The average investment yield for newly registered debt investment plans in 2025 is 3.61%, with an average investment term of 7.6 years, indicating a downward trend in yields compared to previous years [4] Equity Investment Plans - The insurance asset management sector is still exploring equity investment plans and private equity fund businesses, with the number of registered equity investment plans increasing to 22 in 2025, a year-on-year increase of 83.33%, and a scale of 33.532 billion yuan, up 12.52% [5] - Equity investment plans are often specialized products targeting specific projects, leading to significant variations in scale among different plans [5] Private Equity Funds - In 2025, seven private equity funds were registered by insurance asset management companies, with a total scale of 35.006 billion yuan, reflecting a year-on-year decrease of 22.22% in quantity and 18.61% in scale [6] - The decline in the number of newly registered private equity funds is attributed to the maturation of previously established funds, which are now entering operational phases and gradually investing in projects [6]