Core Insights - The central financial work conference has set the goal of accelerating the construction of a financial powerhouse, guiding the high-quality development of the financial sector [1] - The insurance industry has actively responded to the conference's directives over the past two years, demonstrating its critical role as an economic stabilizer and social stabilizer [1] Risk Management and Protection - The insurance industry has enhanced its risk response capabilities, establishing a comprehensive risk protection system that includes pre-warning, response, and post-compensation mechanisms [2] - Major disaster insurance trials have been implemented in over 20 provinces, strengthening the disaster prevention and mitigation safety net [2] - Health insurance has served 1.22 billion urban and rural residents, while long-term care insurance covers 190 million people, addressing diverse elderly care needs [2] Economic and Social Development Support - The insurance sector has insured over 1.6 billion motor vehicles and launched a platform for insuring new energy vehicles, providing risk coverage exceeding 1.1 trillion yuan [3] - Export credit insurance has provided risk coverage of 4.4 trillion USD, supporting foreign trade stability [3] Financial Contributions - As of mid-2023, the insurance industry's investment balance reached 36.23 trillion yuan, continuously injecting financial resources into capital markets and the real economy [4] - The sector has provided over 10 trillion yuan in risk coverage for technology insurance, supporting 3,600 innovative projects [4] - Green insurance is projected to provide risk coverage exceeding 330 trillion yuan in 2024, with increased support for green and low-carbon industries [4] Industry Reform and Development - The insurance industry has surpassed 40 trillion yuan in total assets, solidifying its position as the second-largest insurance market globally [5] - Comprehensive reforms in auto insurance and the implementation of a unified reporting and operation system are guiding the market towards rational management [5] - The industry is transitioning from scale expansion to value creation, with a notable decrease in comprehensive cost ratios and expense ratios [5] International Engagement - Half of the world's 40 largest insurance companies have entered the Chinese market, enhancing the industry's professional level through international collaboration [6] - The Shanghai International Reinsurance Registration and Trading Center serves as a key platform for attracting global reinsurance institutions [6]

Group 1 - Major insurance companies are studying the spirit of the 20th National Congress and aim to implement the "five major articles" of finance to achieve sustainable high-quality development [1][2] - The insurance industry is positioned as a crucial part of China's financial development, with significant functional value and broad development space, especially in areas like insurance protection, capital circulation, social governance, wealth management, and health care [1][2] - The insurance sector is encouraged to act as an "economic shock absorber" and "social stabilizer," supporting the modernization of the industrial system and national strategies such as technological innovation and low-carbon transformation [1][2] Group 2 - Companies are committed to translating the conference's directives into practical actions, aligning their future development plans with the spirit of the 20th National Congress [2] - China Life is focusing on high-quality development, expanding insurance in key areas, and leveraging its long-term capital to support the new productive forces and social governance [2][3] - China Pacific Insurance Group aims to identify service entry points and effectively utilize the insurance industry's roles in economic security, social protection, and disaster prevention [3] Group 3 - China Ping An emphasizes meeting the growing needs of the people by enhancing financial services for the real economy, improving the diversity and accessibility of financial and healthcare services, and advancing AI innovation [3] - Large insurance companies are adopting clear strategies and practical measures to enhance their functional value, support national strategies, and drive their own high-quality development [3]