证券时报·2025-11-03 09:00Core Viewpoint - Insurance capital has entered a "buying" mode in equity investments, significantly increasing their holdings in A-shares as evidenced by the third-quarter reports of listed companies [1][3]. Group 1: Insurance Capital Investment Trends - As of the end of the third quarter, the number of A-shares held by insurance institutions increased by 19% compared to the end of the previous year, with the market value of these holdings rising by 18% [1][3]. - In the third quarter alone, the number of A-shares held by insurance capital grew by 14% compared to the previous quarter, with a total market value exceeding 650 billion yuan [3][6]. - Financial stocks remain a cornerstone of insurance capital investments, with their market value exceeding 300 billion yuan, accounting for nearly 50% of total holdings [3][4]. Group 2: New Investments and Sector Focus - Over 300 new stocks were added to the insurance capital's heavy holdings in the third quarter, with a total market value of over 100 billion yuan [5][6]. - The manufacturing sector accounted for the highest proportion of new investments, with over 200 new stocks and a market value exceeding 45 billion yuan [6]. - Significant new investments were also made in strategic emerging industries and high-tech manufacturing, including sectors like semiconductors and medical devices [6]. Group 3: Performance and Returns - The increase in equity investments has led to substantial returns, contributing to record-high profits for several insurance companies in the third quarter [7][8]. - For instance, China Life reported a net profit of 167.8 billion yuan for the first three quarters, a year-on-year increase of 60.5%, driven by a total investment income of 368.6 billion yuan [8]. - New China Life also saw a net profit increase of 58.9%, with a total investment income reflecting a significant growth trend in the capital market [8].