独家｜债权计划、股权计划、私募基金……保险资管三类业务2025年登记数据出炉

Core Viewpoint - The insurance asset management industry is experiencing a decline in the registration of debt investment plans, equity investment plans, and insurance private equity funds, with a total of 314 registered plans and a scale of 510.443 billion yuan in 2025, representing a year-on-year decrease of 20.71% in quantity and 26.08% in scale [2]. Debt Investment Plans - In 2025, the insurance asset management institutions registered 285 debt investment plans, a year-on-year decrease of 24%, with a registration scale of 441.905 billion yuan, down 28.46% [3]. - The decline in debt investment plans is attributed to changes in the economic financing structure, particularly in traditional industries like real estate and infrastructure, which are undergoing adjustment cycles and experiencing significant financing contractions [3]. - The average investment yield for newly registered debt plans in 2025 is 3.61%, with an average investment term of 7.6 years, indicating a downward trend in yields compared to previous years [4]. Equity Investment Plans - The insurance asset management sector is still exploring equity investment plans and private equity fund businesses, with fluctuations in the number and scale of registered equity investment products [5]. - In 2025, 22 equity investment plans were registered, an increase of 83.33% year-on-year, with a total scale of 33.532 billion yuan, up 12.52% [6]. - The registered equity investment plans vary significantly in scale, with some as low as 100 million yuan and others reaching 10 billion yuan [6]. Private Equity Funds - In 2025, seven insurance private equity funds were registered, with a total scale of 35.006 billion yuan, reflecting a year-on-year decrease of 22.22% in quantity and 18.61% in scale [7]. - The decline in the number of newly registered private equity funds is due to the maturation of previously established funds, which are now entering operational phases and gradually investing in projects [7].