险资今年举牌30次，成A股慢牛推手之一

Core Viewpoint - The article highlights the significant increase in insurance capital's activity in the capital market, with a record number of equity stakes taken in 2025, indicating a robust market environment and a shift towards a "slow bull" market trend [1][10]. Group 1: Insurance Capital Activity - In 2025, insurance capital has made 30 equity stakes, the highest in recent years, second only to 62 in 2015 [1][4]. - The stakes include 6 in the A-share market and 25 in the H-share market, covering 23 listed companies across various sectors, with banks being the most favored [4][6]. - The total amount for the three batches of long-term investment pilot programs has reached 222 billion yuan [9]. Group 2: Market Performance - On August 18, the total market capitalization of A-shares surpassed 100 trillion yuan for the first time, with the Shanghai Composite Index reaching a nearly 10-year high [1][11]. - The market is characterized by a "slow bull" trend, with significant participation from institutional investors, particularly insurance capital [10][12]. Group 3: Long-term Investment Reforms - The long-term investment reform pilot programs are accelerating, with seven insurance-related private equity fund companies established [8][9]. - The pilot programs aim to enhance the participation of insurance funds in the stock market, with a total of 222 billion yuan approved for investment [9]. Group 4: Future Outlook - The article suggests that the ongoing policies encouraging insurance capital to enter the market will lead to a more stable investment environment and promote the revaluation of quality assets [14][15]. - Insurance capital is expected to play a crucial role in stabilizing market fluctuations and enhancing investor confidence [15].