2026年2月2日，喀什金融监管分局发布批复称，《关于中国人寿财产保险股份有限公司疏勒县支公司变 更营业场所的请示》(国寿财险喀发〔2026〕3号)收悉。经审核，现批复如下： 一、同意中国人寿财产保险股份有限公司疏勒县支公司将营业场所变更为：新疆维吾尔自治区喀什地区 疏勒县张骞路14院翰林世家小区8号商住楼113号商铺。 二、中国人寿财产保险股份有限公司应按照有关规定及时办理变更及许可证换领事宜。 2026年2月2日，喀什金融监管分局发布批复称，《关于中国人寿财产保险股份有限公司疏勒县支公司变 更营业场所的请示》(国寿财险喀发〔2026〕3号)收悉。经审核，现批复如下： 一、同意中国人寿财产保险股份有限公司疏勒县支公司将营业场所变更为：新疆维吾尔自治区喀什地区 疏勒县张骞路14院翰林世家小区8号商住楼113号商铺。 二、中国人寿财产保险股份有限公司应按照有关规定及时办理变更及许可证换领事宜。 ...

Core Insights - Regular insurance shopping has become a routine activity for consumers, driven by economic pressures and competitive insurer marketing [1][3] - In Q4 2025, auto insurance shopping increased by 11% and property insurance shopping rose by 5% compared to Q4 2024, indicating sustained elevated shopping levels [2] Consumer Behavior - The report highlights a shopping intensity index, revealing that while consumers are shopping more frequently, most exhibit low shopping intensity, with less than 25% considering three or more insurers [4] - 77% of consumers only shop with one or two insurers, often satisfied with finding a lower rate rather than the lowest possible rate [5] Demographic Insights - Generational and geographic factors influence shopping intensity, with Baby Boomers and Silent Generation scoring seven points lower than Gen Z, likely due to brand loyalty [8] - Consumers in the least populated 20% of zip codes show four points lower shopping intensity, attributed to limited local options [8] Retention Strategies - Insurers have an opportunity to enhance customer retention by engaging existing customers before they start shopping, offering potential discounts and additional coverage options [6] - Utilizing solutions like TransUnion's Branded Call Display can improve consumer trust and increase call answer rates [6]

Core Insights - Cincinnati Financial Corporation reported a net income of $676 million in Q4 2025, up from $405 million in the previous year, with a combined ratio of 85.2% in its property and casualty (P&C) insurance segment [1][5] - For the full year 2025, net income reached $2.4 billion, a 4% increase from $2.3 billion in 2024, with earned premiums rising by 12% to nearly $10 billion [2] Financial Performance - Group-wide earned premiums increased by 10% year-on-year to $2.6 billion in Q4 2025, while investment income rose by 9% to $305 million, leading to total revenues of $3.1 billion, a 22% increase [2] - For the full year 2025, total revenues increased by 11% to $12.6 billion, with investment income growing by 14% to $1.2 billion [2] P&C Insurance Operations - In Q4 2025, earned premiums for the P&C insurance operations rose by 10% to $2.5 billion, with total revenues also increasing by 10% to $2.5 billion [3] - For the full year 2025, earned premiums increased by 13% to $9.7 billion, with total revenues matching this growth at $9.7 billion [3] Underwriting and Losses - Loss and loss expenses increased by 11% to $1.4 billion in Q4 2025 and by 17% to $6.3 billion for the full year [4] - Underwriting profit for Q4 2025 increased by 7% to $378 million, but decreased by 14% to $501 million for the full year [4] Combined Ratio - The P&C insurance combined ratio increased by 0.5 percentage points to 85.2% in Q4 2025 and by 1.5 percentage points to 94.9% for the full year [5] - The company achieved an underwriting profit for 14 consecutive years, with a full-year combined ratio of 94.9% within the long-term goal of 92% to 98% [6] Additional Insights - The current accident year combined ratio before catastrophe losses improved by 0.4 percentage points to 86.1% for 2025, despite the impact of $52 million in reinsurance reinstatement premiums related to California wildfires [7] - The life insurance subsidiary contributed positively, with a 16% increase in net income to $106 million [7]

Economic Data and Forecasts - U.S. Retail Sales are expected to increase by +0.4% month-over-month in December, following a +0.6% increase in November [1] - U.S. Core Retail Sales rose +0.5% month-over-month in November, with economists predicting a +0.3% increase for December [4] - The U.S. Employment Cost Index is anticipated to remain at +0.8% quarter-over-quarter for Q4, consistent with Q3 [5] - Import and Export Price Indexes are expected to rise by +0.1% month-over-month in December, down from +0.4% and +0.5% respectively in the previous month [5] Stock Market Performance - Wall Street's main stock indexes ended positively, with Microsoft rising over +3% and Meta Platforms gaining more than +2% [3] - Chip stocks like Broadcom and Advanced Micro Devices also saw gains of more than +3% [3] - AppLovin surged over +13% after the withdrawal of allegations against it, while Kyndryl Holdings fell more than -54% due to disappointing FQ3 results and CFO exit [3] Corporate Earnings - Notable companies reporting quarterly figures include Coca-Cola, Gilead Sciences, CVS Health, and Ford, with S&P 500 companies expected to see an average +8.4% increase in Q4 earnings year-over-year [7] - In the bond market, the yield on the benchmark 10-year U.S. Treasury note is at 4.180%, down -0.33% [7] International Market Updates - The Euro Stoxx 50 Index is up +0.03%, with chemical stocks leading gains after a positive sector assessment by Goldman Sachs [8] - Kering's stock jumped over +12% following improved Q4 sales trends [8] - Asian markets closed positively, with China's Shanghai Composite Index up +0.13% and Japan's Nikkei 225 up +2.28% [9] Pre-Market Stock Movements - Taiwan Semiconductor Manufacturing Co. shares rose over +2% in pre-market trading due to strong January revenue growth [12] - Credo Technology surged more than +16% after raising its FQ3 revenue guidance [12] - Palantir Technologies rose over +2% after an upgrade to Buy from Daiwa [13]

Core Insights - Afore Insurance Services has acquired Myron K. Hobbs & Company, expanding its operations into Kentucky and establishing a new office in the Louisville area [1] - The financial terms of the acquisition remain undisclosed, but it is expected to enhance Afore's growth and local relationships [2][4] - Afore aims to combine employee benefits and property & casualty capabilities to provide more comprehensive services to clients [3] Company Expansion - The acquisition allows Afore to enter the Kentucky market and strengthens its presence in the Louisville region [1][4] - Afore has over 20 offices across the United States and has acquired more than 50 agencies since its inception in the 1970s [3] Leadership and Vision - Myron K. Hobbs, the founder of the acquired agency, expressed confidence in Afore's leadership and business model, indicating a positive outlook for future growth [2] - Afore's CEO, Michael A. Garguilo, highlighted the alignment of Myron Hobbs and his team's capabilities with Afore's mission, emphasizing the importance of client relationships [4]

Core Insights - Aon and Kniazha Vienna Insurance Group (Kniazha VIG) have established a reinsurance facility agreement valued at $25 million with the US International Development Finance Corporation (DFC) to provide reinsurance coverage on war risk insurance portfolios up to $100 million [1][2] Group 1: Partnership and Commitment - The partnership with DFC is seen as a significant step in enhancing Kniazha's role in Ukraine's rebuilding efforts and demonstrates VIG's long-term commitment to the country [2] - The collaboration aims to expand insurance solutions for small and medium-sized enterprises (SMEs) and individuals, thereby creating a resilient platform that fosters community empowerment and new market opportunities [3] Group 2: Previous Initiatives and Support - Prior initiatives have coordinated over $490 million in investment and insurance-related support, including the establishment of an insurance facility with the European Bank for Reconstruction and Development [4] - Aon has launched a program focused on employing displaced Ukrainians, reflecting its commitment to supporting Ukraine during the ongoing conflict [4] Group 3: Strategic Goals - The collaboration between Aon and Kniazha VIG aims to leverage expertise and analytics to develop innovative solutions addressing the complexities of the current situation in Ukraine [5]

Core Insights - AIA Group Limited's research highlights that entrenched stereotypes regarding physical, mental, and financial health significantly influence wellbeing attitudes and behaviors across Asia [1][3] Group 1: Research Findings - The study analyzed over 100 million social media posts and surveyed 2,100 respondents across Mainland China, Hong Kong SAR, Singapore, Thailand, and Malaysia [1][3] - Key findings indicate that 69% of respondents believe fitness requires discipline without compromise, while 59% think improving health necessitates a complete transformation [5] - Additionally, 57% feel that emotional control and avoiding vulnerability are essential for respect, and 63% have negative feelings about financial health stereotypes [5] - 41% associate personal worth with financial success, particularly among men, while those with poorer wellbeing perceive these stereotypes as pressure that reinforces self-doubt [5][6] Group 2: AIA's Initiatives - AIA has launched the next phase of its "Rethink Healthy" campaign, which includes three new films aimed at addressing hidden pressures related to health stereotypes [7][8] - The company organized a summit with creators and brand ambassadors to promote responsible health storytelling and encourage inclusive wellbeing conversations [8] - AIA's long-term goal is to inspire and engage one billion people to live healthier lives by 2030, reinforcing its commitment to improving overall health and wellbeing across Asia [8][13] Group 3: Company Overview - AIA Group Limited is the largest independent publicly listed pan-Asian life insurance group, with a presence in 18 markets and total assets of US$328 billion as of June 30, 2025 [9][10] - The company offers a range of products including life insurance, health insurance, and savings plans, serving over 43 million individual policyholders and 16 million group insurance members [11] - AIA's "One Billion" initiative aims to engage communities in improving physical, mental, and environmental wellness while promoting financial inclusion [13][14]

Arch Capital Group Ltd., the Bermuda-based insurer and reinsurer, has reported a 32.3% year-on-year rise in underwriting income to $827 million for the fourth quarter of 2025, with a strong performance in both insurance and reinsurance.Group-wide, the combined ratio improved by 4.4 percentage points to 80.6%, down from 85% in Q4’24, as the loss ratio decreased to 53.6%, down from 57.5% in 2024. Overall gross premiums written (GPW) remained relatively flat at $4.8 billion, compared to $4.76 billion in Q4’24. ...

Core Viewpoint - Freedom Holding Corp. reported significant growth in assets, shareholders' equity, and customer base across its core business segments for the three and nine months ending December 31, 2025 [1]. Financial Performance - Total assets reached $12.38 billion, a 25% increase from $9.91 billion at the end of the previous fiscal year, driven by the expansion of the investment portfolio and increased client balances in brokerage accounts [2]. - Net cash provided by operating activities for the nine-month period was $1.73 billion, primarily due to growth in customer funds in brokerage accounts and a reduction in margin-related balances [2]. - Cash, cash equivalents, and restricted cash stood at $3.51 billion, up from $1.64 billion at the start of the financial year [3]. - Total revenue for the three months ending December 31, 2025, was $628.6 million, with a nine-month total of $1.69 billion, reflecting diverse revenue sources from brokerage, banking, and insurance segments [4]. - Total shareholders' equity increased to $1.40 billion from $1.21 billion at the end of the prior fiscal year, with net income for the third quarter at $76.2 million and diluted earnings per share (EPS) of $1.25 for the quarter and $2.38 for the nine-month period [8]. Customer Growth and Business Development - The number of banking customers rose from 2.5 million to 4.5 million over nine months, while the brokerage customer base grew by over 20%, supported by expanded digital offerings [5]. - The company has integrated traditional brokerage and banking with everyday consumer services, resulting in over 7 million customers using its platform, with plans for expansion into additional markets [7]. Business Model and Ecosystem - The diversified business model across financial, insurance, and technology segments has proven effective, with ongoing development of a financial and digital ecosystem [6]. - The SuperApp is the most downloaded application in Kazakhstan, indicating strong market presence and user engagement [7].

Core Viewpoint - Markel Insurance has promoted Phil Amlot to Head of Trade Credit for Markel International, aiming to enhance its global reputation as a leading Trade Credit insurer during a period of significant global development for the division [1][2]. Company Leadership and Strategy - Phil Amlot will report to Carl Titterton and is tasked with developing and leading the long-term strategy, profitable growth, and team development for Markel International's Trade Credit division [2]. - Amlot's appointment is seen as timely, given his 16 years of experience at Markel and his previous role as Head of Underwriting – Trade Credit since 2020, which has contributed to the division's market profile and profitable growth [3]. Market Environment and Opportunities - The current dynamic environment, influenced by geopolitical changes, shifting supply chains, and economic conditions, presents significant opportunities for businesses that are well-supported and informed [4]. - The credit insurance industry is positioned as increasingly valuable, with Markel committed to providing insights and solutions that help clients navigate uncertainties and achieve sustained success [4]. Phil Amlot's Background - Amlot began his career at Markel in 2010 as a senior underwriter in Trade Credit and has held various roles, including establishing the US operation of Markel's Trade Credit division in 2014 [4]. - His extensive experience in underwriting and risk management prior to joining Markel includes positions at Coface UK and Independent Insurance Company Limited [4]. Company Overview - Markel Insurance is recognized as a leading global specialty insurer, emphasizing a people-first approach and leveraging a broad array of capabilities to address complex specialty insurance needs [5].