中邮人寿是保费收入排名前10，仅次于老六家的银保巨头公司。过去我们持续关注过这家公司的经营数据情况。 分红险时代，大家都更关注保险公司的投资收益率和经营数据情况，有些买过中邮人寿分红险或者在考虑中邮人寿的朋友，未免对这次公布的数据有些担 心。 不过，综合各方来看，这次对分红险保单的实际影响依旧有限，主要有几个原因： 一是，投资收益率，各家公司的变动都比以前更大了。 自执行新金融工具会计准则以来，保险公司的净利润波动一直在加大。2024年的上市公司已有直观体现：在第一季度股市低迷期，五家险企中有四家公司 净利润负增长；第三季度系列政策利好下股市进入"爆发期"，上市险企净利表现也如同坐上了"火箭"，其中，中国人寿、中国人保、新华保险三家公司单 季度净利润同比增幅区间为17倍至23倍。 已公布数据的保险公司三季度的表现都较上半年有回落。 之前我们统计的73家人身险公司偿付能力充足率，三季度综合偿付能力上升的只有9家，核心偿付能力上升的有7家。（链接：最新人身险AAA评级 （2025Q3人身险）| 偿付率下滑原因） 2025年6月以来，偿付能力充足率指标转头下行的主要原因：一方面，偿二代二期规则提高了相关风险因子和资 ...

Core Viewpoint - Anxin Property Insurance Co., Ltd. has been penalized for regulatory violations, including improper use of approved insurance terms and false reporting of claims data, leading to significant restrictions on its new business operations [2][3][4] Group 1: Regulatory Actions - Anxin Property Insurance is ordered to stop accepting new credit guarantee insurance business for 36 months, short-term health insurance for 24 months, and vehicle insurance for 6 months [2][3] - A total of 13 responsible individuals have been warned and fined a total of 770,000 yuan for their involvement in the violations [3][4] Group 2: Individual Penalties - Specific individuals have been banned from the insurance industry for varying durations: Zhong Cheng for 11 years, Wang Hui for 10 years, Li Haofan for 8 years, Huang Sheng for 6 years, and Chen Jing for 6 years [4] Group 3: Financial Health - As of Q3 2024, Anxin's core and comprehensive solvency adequacy ratios have dropped to -871.59%, with a net asset value of -735 million yuan, and insurance business revenue reported at -93.4 yuan for the same period [4] - The risk comprehensive rating for the first and second quarters of 2024 is classified as "D" [4] Group 4: Company Background - Anxin Property Insurance was one of the first internet insurance companies, receiving its establishment approval in June 2015 and officially commencing operations in January 2016 [4] - The company has seven shareholders, including Zhongcheng Investment Group Co., Ltd. and Beijing Ximeng Real Estate Co., Ltd. [4]

截至三季度末，中原农险核心偿付能力充足率为294.21%，综合偿付能力充足率为298.26%，较二季度末数据下降约80个百分点。中原农险表示，三季度偿 付能力充足率下降主要是受秋粮理赔未结案影响，三季度末再保后未决赔款准备金较二季度末增加15.00亿元，其中农险增加14.65亿元，导致保险风险最低 资本占用增加4.30亿元。 12月22日，河南金融监管局发布的行政许可信息显示，核准刁玉新中原农险董事、董事长的任职资格。 3月份，河南省人民政府官网消息显示，任命刁玉新为中原农业保险股份有限公司董事长，免去其河南省农业信贷担保有限责任公司董事长职务；免去毕治 军的中原农业保险股份有限公司董事长职务。 同时，中原农险发布公告称，毕治军因年龄原因，辞去执行董事、董事长及董事会战略与投资委员会主任委员职务。 ...

13精资讯-增加2025年11月上市公司保费 13精资讯-增加2025年11月万能险结算利率2100条 13 精利用最新录得数据做的研究报告之417 期： 2025年三季度寿险公司资本要求结构分析：权益价格风险显著提升，利率风险略有下降 先 说 结论： 第三，但由于国债750移动平均收益率的"时滞效应"，准备金没有减少，反倒继续增提。 1、 2025年第三季度寿险行业综合偿付能力充足率为204%，环比下降了26个百分点，同比下降18个百分点。 为什么2025年第三季度综合偿付能力充足率较二季度出现了一定程度的下滑呢？对此，本文将做重点分析。 拆解偿付能力充足率指标来看，认可资产环比增幅3.2%，认可负债环比增幅4.1%，导致实际资本环比下降1.6%。同时，最低资本要求环比增加10.8%。 "13精"数据库第417周更新公告 13精资讯-增加2025年10月各地区分险种经营情况 13精资讯-增加最近一周保险公司被处罚数据 13精资讯-增加最近一周保险公司投连险净值数据 显然，认可资产增速不及认可负债，实际资本增速不及最低资本，是推动综合偿付能力充足率下降的关键因素。 前不久，"13精"曾发文分析本次偿付能力充足 ...

12月19日，深圳金融监管局发布关于王颖招商信诺人寿保险有限公司（以下简称"招商信诺人寿"）董事长任职资格的批复，核准王颖招商信诺人寿董事长的 任职资格。 据招商信诺人寿官网，8月28日，招商信诺人寿召开2025年第三次临时股东会，审议了《关于王颖女士接替王小青先生担任招商信诺董事长及董事会相关专 业委员会委员的议案》，该议案由代表公司100%表决权比例的股东一致通过。 王颖除了担任招商信诺人寿董事长，同时还担任招商基金董事长。11月26日，招商基金发布公告称，王颖自2025年11月27日起担任招商信诺董事长。上述事 项，已经招商信诺董事会会议审议通过，并按照规定向监管机构报备。招商信诺总经理钟文岳自同日起不再代任董事长职务。 公开资料显示，王颖于1997年1月加入招商银行，历任招商银行北京分行行长助理、副行长，天津分行行长，深圳分行行长，招商银行行长助理。2023年11 月起任招商银行副行长。 招商信诺人寿的上任董事长王小青同样身兼多职。王小青在担任招商信诺人寿的董事长的同时，还担任招商信诺资产管理有限公司董事长、招商局金融控股 有限公司董事、总经理、党委书记。王小青曾经担任招商银行副行长、招商基金管理有限 ...

Core Viewpoint - The regulatory authority has imposed severe penalties on Anxin Insurance for violations, including a ban on new business in several insurance categories and penalties for 19 responsible individuals, highlighting significant governance and operational issues within the company [1][2][9]. Regulatory Actions - Anxin Insurance has been ordered to stop accepting new business for credit guarantee insurance for 36 months, short-term health insurance for 24 months, and vehicle insurance for 6 months [1][9]. - 19 individuals associated with Anxin Insurance received warnings and fines totaling 770,000 yuan, with several facing industry bans ranging from 6 to 11 years [2][9]. Financial Performance - Anxin Insurance has reported continuous losses since its inception, with net losses from 2016 to 2021 amounting to 7.3 million yuan, 29.9 million yuan, 49.5 million yuan, 10.6 million yuan, 57.8 million yuan, and 27.6 million yuan respectively [10]. - The company's insurance business revenue peaked at 2.721 billion yuan in 2019 but significantly declined to 1.758 billion yuan in 2020 and further to 373 million yuan in 2021 [2][10]. Solvency Issues - Anxin Insurance's solvency ratio deteriorated sharply, with a core solvency ratio of -175.83% by the end of 2020 and -871.59% by the third quarter of 2024, indicating severe financial distress [3][12]. - The company has been mandated to halt new business operations due to insufficient solvency levels, with a reported net asset value of -735 million yuan as of September 2024 [12]. Strategic Developments - Anxin Insurance has relocated its headquarters from Beijing to Suzhou, which is speculated to be a strategic move to facilitate the establishment of Dongwu Insurance, potentially indicating a restructuring or rebranding effort [5][14]. - Dongwu Insurance was approved for establishment with a registered capital of 2 billion yuan, suggesting a possible lifeline for Anxin Insurance amid its ongoing challenges [5][14]. Industry Implications - The situation of Anxin Insurance serves as a cautionary tale for the insurance industry, particularly for emerging internet insurance companies, emphasizing the importance of sustainable growth and risk management over short-term performance [15].

根据偿付能力报告，2025年前三季度，中邮人寿保险业务收入约1513.11亿元，净利润达到91.29亿元。 不过，在投资端，中邮人寿前三季度综合投资收益率为0.31%，低于行业平均水平，特别是第三季度综 合投资收益率降至负数，为-1.90%。 对于综合投资收益率下滑，中邮人寿方面对《中国经营报》记者表示，保险资金的投资始终以长期性和 稳健型为原则，投资决策更注重跨周期的稳定性，2024年以来，中邮人寿整体投资回报是符合预期策略 的，虽然短期市场波动给行业带来共同的冲击，但长期投资周期看是稳定和整体安全的。 最低资本430.1亿元，环比下降22.4亿元，降幅5%。其中，保险风险最低资本116.2亿元，环比上升1.7亿 元，增幅1.5%，基本持平。市场风险最低资本403.3亿元，环比下降20.5亿元，降幅4.8%，主要受公司 调整资产配置结构影响。 12月18日晚，上市公司四川路桥（600039.SH）公告显示，中邮人寿保险股份有限公司（以下简称"中邮 人寿"）于2025年12月17日通过二级市场买入股票的方式增持其11.43万股，占公司总股本的0.0013%。 增持后，中邮人寿持有四川路桥4.35亿股，占公司总 ...

中经记者 陈晶晶北 京报道 近日，财信吉祥人寿保险股份有限公司（以下简称"财信吉祥人寿"）及其相关分支机构均收到监管行政 处罚。 监管披露的行政处罚文件显示，财信吉祥人寿因存在四项违法违规行为，国家金融监督管理总局湖南监 管局（以下简称"湖南金融监管局"）对其予以38万元的行政处罚。 与此同时，财信吉祥人寿安徽分公司因虚列会议费、业务宣传费套取费用被处罚，长沙中心支公司、株 洲中心支公司、娄底中心支公司也均因虚列会议费、业务宣传费套取费用等原因被处罚。 对于上述处罚，财信吉祥人寿方面亦对《中国经营报》记者表示，一切以公司公告为准。 财信吉祥人寿在公告中称，"上述处罚未对公司造成重大影响，目前，公司经营一切正常，各项业务有 序推进。" 机构及相关负责人"双罚" 监管处罚文件显示，财信吉祥人寿因聘任不具有任职资格的人员，最低资本计量不合规，给予投保人、 被保险人、受益人保险合同约定以外的利益，电话销售过程存在销售误导行为等违法违规行为，对财信 吉祥人寿罚款共计38万元。 分支机构方面也因费用问题被处罚。财信吉祥人寿安徽分公司虚列会议费、业务宣传费套取费用，被监 管罚款30万元。长沙中心支公司虚挂代理人套取费用，虚 ...

Core Viewpoint - The adjustment of risk factors for insurance companies by the Financial Regulatory Bureau is expected to enhance the growth outlook for the insurance sector in 2024, with a focus on long-term wealth preservation and value-added policies [1][5]. Group 1: Regulatory Changes - On December 5, the Financial Regulatory Bureau issued a notice adjusting risk factors related to insurance companies' business [1]. - The adjustment aims to support stable and active capital markets by lowering the risk factors for long-term investments [2][5]. Group 2: Investment Opportunities - The insurance sector is expected to see a significant inflow of funds, with estimates of 550 to 600 billion yuan entering the market next year [6]. - Major insurance companies are projected to allocate a substantial portion of their new premiums to A-shares, with some companies like China Life and Taiping expected to invest up to 40% of new premiums [6]. Group 3: Market Dynamics - The insurance distribution channels are anticipated to achieve double-digit growth due to their advantages in customer resources and account management [1]. - The valuation of insurance companies remains low, presenting a high cost-performance ratio for investors [1]. Group 4: Long-term Outlook - The long-term fundamentals of the insurance industry are positive, with expectations of increased market share for larger companies as they transition to dividend insurance [1]. - The adjustment of risk factors is expected to provide some relief to insurance companies facing pressure on their solvency ratios, although the immediate impact on equity allocation may be limited [5][4].

Group 1 - The China Securities Regulatory Commission (CSRC) Chairman Wu Qing emphasized the need to optimize evaluation indicators for quality institutions, appropriately expand capital space and leverage limits, and enhance capital utilization efficiency [2][6] - The Financial Regulatory Bureau announced adjustments to risk factors for insurance companies' investments in specific indices, which will lower capital occupation and improve solvency ratios, encouraging long-term investment by insurance funds [2][8][10] - The new performance assessment guidelines for fund managers link their compensation closely to fund performance, with significant penalties for underperformance [3][15] Group 2 - The People's Bank of China has increased its gold reserves for the 13th consecutive month, with reserves reaching 7.412 million ounces as of the end of November [5] - The CSRC is pushing for a shift from price competition to value competition among securities firms, encouraging resource integration and the development of internationally influential benchmark institutions [6] - The CSRC is seeking to enhance corporate governance and investor protection through new regulations on market capitalization management, cash dividends, and share buybacks [7] Group 3 - The new drug directory for basic medical insurance and commercial health insurance will be implemented starting January 1, 2026, with strict compliance required from local authorities [16] - The 2025 drug directory includes 114 new drugs, of which 50 are classified as innovative drugs, highlighting a focus on high-quality development in the pharmaceutical sector [17] Group 4 - Major airlines have extended free ticket changes and cancellations for flights to and from Japan until March 28, 2026, reflecting ongoing adjustments in the travel sector [18] - This week, five new stocks are available for subscription, indicating ongoing market activity [19][20]