2025年上半年寿险公司（非上市）偿付能力排行榜：1家风险评级为C！所有公司综合投资收益率环比提升，超5成偿付能力上升...

Core Viewpoint - The article discusses the solvency adequacy ratios of various life insurance companies in China for the first half of 2025, highlighting the performance of 60 non-listed life insurance companies and the impact of recent regulatory changes on their financial health [1][17]. Solvency Adequacy Ratios - The solvency adequacy ratios for the top life insurance companies show significant variations, with Guoshou Pension leading at 1095.2%, followed by Xinhua Pension at 991.3% [2]. - A total of 57% of the companies reported an increase in their comprehensive solvency adequacy ratio compared to the previous quarter [23]. - Dingcheng Life is noted for having a solvency adequacy ratio below 120%, which raises concerns about its financial stability [18][20]. Regulatory Changes and Impact - The article mentions that the solvency management regulations introduced in 2021 include three key indicators: core solvency adequacy ratio, comprehensive solvency adequacy ratio, and risk rating [17]. - The recent adjustments in predetermined interest rates for various insurance products are expected to influence consumer behavior and company performance [9][11]. Investment and Capital Raising - Several insurance companies have initiated capital raising and bond issuance plans to enhance their solvency ratios, with a total of over 270 billion yuan in capital increases announced [27]. - Six insurance companies have received approval to issue bonds totaling nearly 200 billion yuan, which is crucial for maintaining solvency levels [26][29]. Market Trends - The article notes a trend of increased sales efforts for insurance products, particularly in light of declining interest rates, which may affect the attractiveness of certain insurance offerings [7][9]. - The comprehensive investment yield for many companies has improved, with 64% of surveyed companies reporting yields exceeding 2% [25].