中英人寿：以长期主义投资实力穿越周期

Core Viewpoint - The investment performance of insurance funds is crucial in a volatile interest rate environment, emphasizing the importance of long-term capital and the ability to navigate economic cycles while ensuring asset-liability matching [1][2]. Group 1: Investment Performance - As of the end of 2025, the company reported total assets exceeding 120 billion yuan, with a five-year compound investment return rate of 6.7% and a financial investment return rate of 5.1%, both significantly above industry averages [2]. - The company's risk comprehensive rating (IRR) has maintained an "A" level for 37 consecutive quarters, and it has received AAA ratings 11 times under the second phase of solvency regulations, indicating strong investment fundamentals [2]. Group 2: Investment Philosophy - The company adheres to a "long-term stability" investment logic, focusing on providing certainty to consumers regarding their long-term commitments, such as pensions and insurance, without chasing short-term market trends [2][7]. - The unique "three ends and four tables" operational philosophy ensures organic collaboration between asset, liability, and capital sides, maintaining a long-term investment trajectory [3]. Group 3: Investment Strategy - The investment strategy emphasizes diversified asset allocation to smooth out volatility while balancing risk and return, with fixed-income assets serving as a safety net [4]. - The company has strategically shifted towards stable cash flow assets like data centers and logistics, avoiding previous volatility in the real estate sector [4]. Group 4: Team Governance - The company maintains a fully autonomous investment management model, fostering a professional team skilled in both asset allocation and risk management, ensuring alignment with long-term client interests [5]. - Long-term incentive mechanisms encourage the investment team to focus on sustainable value creation rather than short-term performance [5]. Group 5: Risk Management - A comprehensive risk management system is integrated into the investment process, covering all business operations and ensuring strict adherence to risk control standards [6]. - The company has achieved a record of zero defaults in credit assets and zero incidents in non-standard investments, reflecting its rigorous risk management approach [6]. Group 6: Commitment to Long-Term Value - The company's 23-year history exemplifies a commitment to long-termism, maintaining a focus on core insurance values while navigating market fluctuations [7]. - The emphasis on a robust operational framework, scientific asset allocation, and a strong risk management system enables the company to deliver stable returns to clients over time [7].