2024-2025保险行业风险管理白皮书：在变革中进化：复杂环境下的风险管理现状与价值重塑

Investment Rating - The report does not explicitly provide an investment rating for the insurance industry for 2024-2025 Core Insights - The Chinese insurance industry is navigating a complex environment characterized by global economic recovery pressures, domestic growth slowdown, structural demand weakness, and fluctuating interest rates, compounded by geopolitical tensions and trade frictions [2] - The industry is entering a new phase of "steady total volume and structural differentiation," presenting both challenges and opportunities, particularly in capital management, product innovation, digital transformation, investment decision-making, and risk management [2][15] - The report emphasizes the need for a digital transformation that focuses on customer-centric approaches and a return to the core values of insurance [15] Summary by Sections 1. Overview of the Chinese Insurance Market - The Chinese insurance market is undergoing significant adjustments and transformations due to a prolonged low-interest-rate environment, which is impacting the core profitability models of life and property insurance companies [12][13] - The implementation of new regulatory frameworks and accounting standards is increasing the pressure on insurance companies to maintain capital adequacy and improve governance [13][14] - Opportunities arise from societal aging and the implementation of personal pension systems, leading to increased demand for commercial pension insurance and health management services [14][15] 2. Risk Management Data Analysis - Systemic challenges in operational and risk management necessitate top-level design and mechanism reforms [51] - The construction of risk preference systems requires breakthroughs in systematic development [57] - The application of insurance technology is accelerating, presenting both opportunities and risks [66] 3. Industry Hot Topics Analysis - The report discusses the operational analysis and risk management under new standards, highlighting the need for insurance companies to adapt to changing regulatory environments and market conditions [82] - Investment risk management is becoming increasingly critical as companies adjust their asset allocation strategies in response to low interest rates and market volatility [53][54] - The report notes a shift from a focus on scale to a focus on quality within the insurance industry, indicating a transition to a new normal of moderate growth [35][36]