Core Viewpoint - The reinsurance industry in 2024 is experiencing a decline in premium income while showing significant growth in net profit and investment returns, indicating a shift in operational dynamics and regulatory impacts [2][4][11]. Group 1: Reinsurance Industry Performance - The reinsurance industry reported a premium income of 226.4 billion yuan in 2024, a year-on-year decrease of 2.6% [2][11]. - The net profit for the reinsurance industry reached 5.42 billion yuan, reflecting a year-on-year increase of 37.2%, with total investment income at 11.3 billion yuan, up 16.9% [4][12]. - The return on equity (ROE) for the reinsurance sector was 5.4%, an increase of 1.1 percentage points year-on-year, but still significantly lower than the ROE of life insurance (18.7%) and property insurance (8%) [5][16]. Group 2: Risk Structure in Reinsurance - Among the 13 secondary risk indicators for minimum capital in the reinsurance industry, premium and reserve risk accounted for the highest proportion at approximately 27%, followed by counterparty default risk at 20% and loss occurrence risk at 11% [7][22]. - The dominance of premium and reserve risk is attributed to the fact that property insurance constitutes about two-thirds of the reinsurance business [22]. Group 3: Comparative Analysis with Original Insurance Industry - The total investment return rate for the reinsurance industry was 3.1%, lower than the life insurance industry's 3.5% but on par with the property insurance industry's 3.1% [17]. - The comprehensive investment return rate for reinsurance was 5.6%, higher than that of property insurance (5.5%) but lower than life insurance (7.5%) [18]. Group 4: Rankings of Reinsurance Companies - The rankings of reinsurance companies based on premium income, net profit, ROE, total investment return, and comprehensive investment return were provided, highlighting the performance of major players in the industry [9][25][28][29][30][31].

昨晚发了招行的年报解读，有小伙伴问，马上要入职小招了，现在进银行，算不算是49年入国军。 我说这怎么可能呢，现在能找到份工作就不错了，这都是有依据的，看到银行招聘网上，贴出来的 四大行的春招计划 ： 农行，25年春招4500人，比去年同期少1万人； 工行，25年春招4500人，比去年少4300人； 中行，25年春招4700人，比去年少1000人； 建行，25年春招2300人，比去年少1400人。 四大行今年合计春招1.6万人，比去年同期少招近1.7万人，直接砍半了，其中农行砍的比较多，因为网点多，2.3万个网点，是工行和建行的1.5 倍，是中行的2倍多，过往一线网点的招聘基数比较大，现在业务难做，师傅都吃不饱饭了，更不可能招新员工进来当徒弟了。 所以，你想进国军，国军不一定有编制呢。 何况，我们分析了半天，最核心的逻辑还是，在基本面的下行期， 从比烂的角度来看，银行是不差的 ，毕竟24年全年，全国规上工业企业，净 利润同比下降了3.3%，而银行不管是靠拨备，还是靠业绩，都至少保持了净利润的正增长； 而且，除了招行这种pb在1以上的银行外，大部分银行的上涨，核心逻辑依然是估值的修复，尤其是本来两块系统性风险，地 ...