证券时报记者刘敬元 今年，对寿险公司业务发展而言，浮动收益型业务是关键点之一。 在一季报中，已有上市险企开始特别提及分红险等浮动收益型业务情况，将其作为业务结构优化和经营 质效提升的重要体现。 从寿险业务节奏看，奠定规模基础的年初阶段已过，随着近日LPR（贷款市场报价利率）下调，与市场 利率挂钩的保险产品预定利率下调已箭在弦上。业界人士表示，分红险成为市场主流业务是客观趋势， 寿险公司正围绕分红险业务着重提升综合服务能力。 突出浮动收益型业务 今年上市险企一季报突出了行业转型重点，即发展分红险等浮动收益型业务，降低刚性负债成本。 其中，中国人寿在一季报中表示，该公司积极推进产品供给形态多元、期限多元、成本多元，大力发展 浮动收益型业务，两全险、年金险、终身寿险、健康险业务实现均衡发展。浮动收益型业务首年期交保 费占首年期交保费的比重为51.72%，较上年同期大幅提升，转型成效明显。 中国太保一季报介绍，太保寿险产品结构优化显现，新保规模保费中，分红险新保规模保费占比 18.2%，同比提升16.1个百分点。 事实上，自2024年以来，行业已出现转型分红险苗头，部分险企在银行渠道尝试销售分红险产品。上市 险企也在 ...

Core Viewpoint - The company reported stable growth in insurance premiums for the first quarter of 2025, with total premiums reaching RMB 354.41 billion, a year-on-year increase of 5.0% [7] Financial Data - Total premiums for the first quarter of 2025 were RMB 354.41 billion, with renewal premiums at RMB 246.98 billion (up 9.7%) and new premiums at RMB 107.43 billion (down 4.5%) [7] - The company achieved a net profit attributable to shareholders of RMB 28.80 billion, representing a year-on-year growth of 39.5% [8] - Total assets reached RMB 6,976.39 billion, with investment assets at RMB 6,819.17 billion, both showing a growth of 3.1% compared to the end of 2024 [8] Business Performance - The company maintained a stable sales force of 646,000, with individual insurance sales personnel numbering 596,000 [7] - The new business value increased by 4.8% compared to the same period in 2024, reflecting effective management and strategic focus [7] - The company emphasized the diversification of product offerings and the development of floating income-type products, with first-year premium income from floating income products accounting for 51.72% of total first-year premium income [7] Investment Strategy - The company adopted a long-term investment perspective, focusing on stable and value-based investments, with total investment income for the first quarter reaching RMB 53.77 billion and an investment income rate of 2.75% [7] - The company continues to optimize its asset allocation in response to market conditions, particularly in the bond and equity markets [7] Regulatory Compliance - The board of directors and senior management confirmed the accuracy and completeness of the quarterly report, ensuring compliance with relevant regulations [2][3]

Core Viewpoint - China Life Insurance reported a net profit of RMB 28.802 billion for Q1 2025, representing a year-on-year increase of 39.5% due to enhanced asset-liability management and market interest rate changes [1] Financial Performance - Total investment income exceeded RMB 50 billion, reaching RMB 53.767 billion in Q1 2025 [2][7] - The net investment income was RMB 44.247 billion, with a net investment yield of 2.60% [7] Insurance Business Overview - Total premium income for Q1 2025 was RMB 354.409 billion, showing a year-on-year growth of 5.0% [3] - Renewal premiums amounted to RMB 246.975 billion, up 9.7% year-on-year, while new single premiums decreased by 4.5% to RMB 107.434 billion [3][4] - Short-term insurance premiums increased by 19.2% to RMB 41.494 billion [3] Product Development - The company emphasized the development of floating income insurance products, with first-year premiums for these products accounting for 51.72% of total first-year premiums, a significant increase from the previous year [5][6] Investment Strategy - The company adopted a long-term perspective for asset allocation, focusing on stable investments and taking advantage of rising bond market interest rates [8]