2020年-2025年吉林省累计原保险保费收入统计图 数据来源：国家金融监督管理总局，智研咨询整理 知前沿，问智研。智研咨询是中国一流产业咨询机构，十数年持续深耕产业研究领域，提供深度产业研 究报告、商业计划书、可行性研究报告及定制服务等一站式产业咨询服务。专业的角度、品质化的服 务、敏锐的市场洞察力，专注于提供完善的产业解决方案，为您的投资决策赋能。 上市企业：天茂集团（000627），中国平安（601318），中国人保（601319），新华保险（601336）， 中国太保（601601），中国人寿（601628） 相关报告：智研咨询发布的《2026-2032年中国保险行业发展分析及投资前景预测报告》 2025年1-12月吉林省原保险保费收入共计839.34亿元，同比增长5.14%，吉林省累计原保险保费收入不 同险种类别中寿险占比最高，为473.67亿元，占比56.43%。 ...

2020年-2025年山西省累计原保险保费收入统计图 相关报告：智研咨询发布的《2026-2032年中国保险行业发展分析及投资前景预测报告》 知前沿，问智研。智研咨询是中国一流产业咨询机构，十数年持续深耕产业研究领域，提供深度产业研 究报告、商业计划书、可行性研究报告及定制服务等一站式产业咨询服务。专业的角度、品质化的服 务、敏锐的市场洞察力，专注于提供完善的产业解决方案，为您的投资决策赋能。 2025年1-12月山西省原保险保费收入共计1226.11亿元，同比增长7.07%，山西省累计原保险保费收入不 同险种类别中寿险占比最高，为727.57亿元，占比59.34%。 上市企业：天茂集团（000627），中国平安（601318），中国人保（601319），新华保险（601336）， 中国太保（601601），中国人寿（601628） 数据来源：国家金融监督管理总局，智研咨询整理 ...

2025年1-12月河北省原保险保费收入共计2539.72亿元，同比增长6.6%，河北省累计原保险保费收入不 同险种类别中寿险占比最高，为1430.53亿元，占比56.33%。 知前沿，问智研。智研咨询是中国一流产业咨询机构，十数年持续深耕产业研究领域，提供深度产业研 究报告、商业计划书、可行性研究报告及定制服务等一站式产业咨询服务。专业的角度、品质化的服 务、敏锐的市场洞察力，专注于提供完善的产业解决方案，为您的投资决策赋能。 上市企业：天茂集团（000627），中国平安（601318），中国人保（601319），新华保险（601336）， 中国太保（601601），中国人寿（601628） 2020年-2025年河北省累计原保险保费收入统计图 相关报告：智研咨询发布的《2026-2032年中国保险行业发展分析及投资前景预测报告》 数据来源：国家金融监督管理总局，智研咨询整理 ...

相关报告：智研咨询发布的《2026-2032年中国保险行业发展分析及投资前景预测报告》 上市企业：天茂集团（000627），中国平安（601318），中国人保（601319），新华保险（601336）， 中国太保（601601），中国人寿（601628） 知前沿，问智研。智研咨询是中国一流产业咨询机构，十数年持续深耕产业研究领域，提供深度产业研 究报告、商业计划书、可行性研究报告及定制服务等一站式产业咨询服务。专业的角度、品质化的服 务、敏锐的市场洞察力，专注于提供完善的产业解决方案，为您的投资决策赋能。 数据来源：国家金融监督管理总局，智研咨询整理 2025年1-12月上海市原保险保费收入共计2979.26亿元，同比增长8.29%，上海市累计原保险保费收入不 同险种类别中寿险占比最高，为1825.16亿元，占比61.26%。 2020年-2025年上海市累计原保险保费收入统计图 ...

相关报告：智研咨询发布的《2026-2032年中国保险行业发展分析及投资前景预测报告》 知前沿，问智研。智研咨询是中国一流产业咨询机构，十数年持续深耕产业研究领域，提供深度产业研 究报告、商业计划书、可行性研究报告及定制服务等一站式产业咨询服务。专业的角度、品质化的服 务、敏锐的市场洞察力，专注于提供完善的产业解决方案，为您的投资决策赋能。 2025年1-12月天津市原保险保费收入共计839.15亿元，同比增长4.64%，天津市累计原保险保费收入不 同险种类别中寿险占比最高，为529.07亿元，占比63.05%。 2020年-2025年天津市累计原保险保费收入统计图 上市企业：天茂集团（000627），中国平安（601318），中国人保（601319），新华保险（601336）， 中国太保（601601），中国人寿（601628） 数据来源：国家金融监督管理总局，智研咨询整理 ...

数据来源：国家金融监督管理总局，智研咨询整理 知前沿，问智研。智研咨询是中国一流产业咨询机构，十数年持续深耕产业研究领域，提供深度产业研 究报告、商业计划书、可行性研究报告及定制服务等一站式产业咨询服务。专业的角度、品质化的服 务、敏锐的市场洞察力，专注于提供完善的产业解决方案，为您的投资决策赋能。 2025年1-12月全国原保险保费收入共计61194.18亿元，同比增长7.43%，全国累计原保险保费收入不同 险种类别中寿险占比最高，为35556.87亿元，占比58.1%。 2020年-2025年全国累计原保险保费收入统计图 上市企业：天茂集团（000627），中国平安（601318），中国人保（601319），新华保险（601336）， 中国太保（601601），中国人寿（601628） 相关报告：智研咨询发布的《2026-2032年中国保险行业发展分析及投资前景预测报告》 ...

来源：中保新知 实际上，"开门红"的火热此前已有"预告"——元旦过后，市场即有消息称，元旦假期累计实现新单保费 规模突破700亿元，其中多家险企银保渠道新单保费"涨幅惊人"。再之前，银保在2025年已强势重返人 身险行业第一大渠道。 经历了两个相对低迷的"开门红"后，银保渠道在2026开年打了个翻身仗。中保新知日前获悉，1月寿险 业银保渠道期交保费1030亿元，同比增长34%；趸交保费1096亿元，同比增长24%。 不过从机构端看，残酷的现实同样赤裸，忧喜依然同在。 TOP10险企座次在2025年大洗牌后，"老七家"和非银外资险企继续攻城略地。1月，"老七家"银保渠道 期交保费总额425亿元，同比大增88%，市场份额从2023年的23%上升至41%，有3家同比增速翻倍；非 银外资险企银保渠道期交保费规模也取得同比33%的增速。而另一边，银行系险企同比小幅增长4%但 出现分化，小型中资险企增速整体"告负"。 01 "老七家"市场份额升至四成 延续过去两年表现，寿险"老七家"（中国人寿、平安人寿、新华保险、太平人寿、太保寿险、人保寿 险、泰康人寿）银保渠道保费继续狂飙。 今年1月，7家实现期交保费总额425亿元， ...

Core Viewpoint - The article highlights the rising interest in exclusive commercial pension insurance products due to their attractive settlement interest rates, with over 80% of the products showing rates above 3% and some reaching as high as 4.55% for aggressive accounts [4][6]. Group 1: Product Performance - Recent data shows that among 39 exclusive commercial pension insurance products, more than 80% have settlement interest rates above 3%, with some aggressive accounts achieving rates of 4.55% [4][6]. - The average settlement interest rate for these products has shown a downward trend over the past five years, but there is a slight recovery expected in 2025, with rates projected to rise to 3.4% from 3.30% in 2024 [9]. Group 2: Investment Structure - Exclusive commercial pension insurance products are designed to cater to diverse retirement needs, particularly for new economy workers and flexible employment individuals, featuring a dual-account model with stable and aggressive investment options [6][8]. - The stable account primarily invests in fixed-income assets, providing a higher guaranteed interest rate, while the aggressive account allocates a higher proportion to equity assets, offering greater potential returns [6][9]. Group 3: Market Trends - The article notes a "migration" of resident savings towards various financial products, including bank wealth management, insurance, index funds, and the stock market, driven by the expiration of large deposits and a declining interest rate environment [4][6]. - The exclusive commercial pension insurance products were first piloted in 2021 and expanded nationwide in March 2022, indicating a growing market presence and increasing product offerings [8][9]. Group 4: Consumer Insights - A case study of a consumer, Mr. Zhang, illustrates the appeal of these products, as he invested in a specific exclusive commercial pension insurance product with a settlement interest rate of 4.01% for the stable account [6][11]. - Despite the attractive rates, consumers like Mr. Zhang express concerns about the long-term commitment required for these products, balancing their investment with the need for liquidity due to other financial obligations [11][12].

Core Viewpoint - The aging population in China is rapidly increasing, with projections indicating that by the end of 2025, individuals aged 60 and above will reach 32.338 million, accounting for 23.0% of the total population, while those aged 65 and above will total 22.365 million, making up 15.9% of the population. This demographic shift is driving the growth of the elderly care industry, which is becoming a crucial component of the national social security system and a strategic focus for insurance companies [1][3]. Industry and Company Developments - The elderly care industry is characterized by both social welfare attributes and market potential, significantly influenced by national policies aimed at encouraging social participation and promoting integrated medical and elderly care services [3][4]. - The insurance sector is responding to the demand for elderly care by increasing investments in the industry, with 130 elderly community projects initiated during the 14th Five-Year Plan period [4]. - In 2025, over 10 elderly community projects were launched by various insurance companies, including China Life, Taikang Insurance, China Pacific Insurance, and others, indicating a growing trend in the sector [5]. - The "city center model" is emerging as a new choice for elderly care, with insurance companies shifting their focus from suburban locations to urban centers to provide better access to medical resources and proximity to family [6][7]. - Major insurance companies are competing to build a comprehensive "big health" ecosystem, integrating insurance payments, health management services, and capital investment to meet the complex needs of the elderly [8][9]. - China Life has initiated a "333 strategy" focusing on elderly care, health, and finance, with significant investments in health and elderly care projects across multiple cities [9][10]. - China Pacific Insurance has established a "big health" strategy, emphasizing a comprehensive ecosystem covering elderly care, health, and rehabilitation services [10]. - Ping An Insurance has upgraded its strategy to integrate financial services with elderly care, expanding its home care services to 75 cities and serving over 160,000 clients [10]. - Taikang Insurance has been active in the elderly community sector since 2009, with a significant presence across 37 cities and nearly 90,000 beds available [10]. - Insurance funds are increasingly penetrating the medical and elderly care sectors, with nearly 30 billion yuan invested in various sub-sectors, including biotechnology and medical devices, as of the third quarter of 2025 [11].

Investment Rating - The industry rating is "Recommended" [5] Core Insights - The net profit of listed insurance companies is expected to continue rapid growth in 2025, with a total net profit of 426 billion yuan in the first three quarters, representing a year-on-year increase of 33.5% [1] - The new business value (NBV) of life insurance is projected to maintain high growth in 2025, with total premium income expected to reach 4,362.4 billion yuan, a year-on-year increase of 8.9% [2] - The property insurance sector is anticipated to see steady premium growth, with total premium income expected to reach 1,757 billion yuan, a year-on-year increase of 3.9% [6] Summary by Sections Life Insurance - The life insurance sector is expected to see a robust performance in 2025, driven by strong demand and the transformation of the bancassurance channel, with new premium income from bancassurance channels increasing by 42.0% year-on-year [2] - The adjustment of the upper limit of the life insurance interest rate is expected to improve the NBV margin, with the rates for traditional savings insurance set at 2.0% and for participating insurance at 1.75% [2] Property Insurance - The property insurance sector is projected to achieve steady premium growth, with car insurance and non-car insurance premiums expected to reach 940.9 billion yuan and 816.1 billion yuan, respectively, representing year-on-year increases of 3.0% and 5.0% [6] - The combined ratio (COR) is expected to improve due to a decrease in natural disaster-related economic losses, which fell by 39.8% year-on-year [6] Investment Recommendations - The report recommends investing in companies with strong fundamentals and high dividend yields, such as China Ping An, New China Life, China Life, China Pacific Insurance, and ZhongAn Online [8]