FOURTH QUARTER 2025 RESULTS January 21, 2026 LONG-TERM FINANCIAL STRATEGY Meaningful and sustainable competitive advantages Generation of top-tier earnings and capital substantially in excess of growth needs Balanced approach to rightsizing capital and growing book value per share over time CREATE SHAREHOLDER VALUE Objective: Mid–Teens Core ROE Over Time 2 FOURTH QUARTER 2025 OVERVIEW Fourth Quarter 2025 Net Income per Diluted Share of $11.06, up 23%, and Core Income per Diluted Share of $11.13, up 22% Full ...

The property and casualty insurer posts adjusted earnings of $11.13 a share for the fourth quarter, surpassing analysts' consensus estimates of $8.80. ...

"13精"数据库第424周更新公告 13精资讯-增加2025年专属商业养老保险产品结算利率 13精资讯-增加2024年年鉴分机构分险种保费，分机构分渠道保费 13精资讯-增加2024年各公司消费者保护评级 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 13 精利用最新录得数据做的研究报告之424 期： 近九年寿险公司人均产能盘点：职工人数五连降、人均产能屡创新高，达到961万元，相比2016年提高1倍有余 ！ 先 说 结论： 1、 由于保险年鉴刚更新2024年行业的职工人数（大家可以看成是管理人员数，以及少部分给上五险一金的销售人员数之和）。因此本文才推出2024 年的人均产能。 需要解释的是，这里的人均产能也是指管理人员的人均产能，而非代理人的人均产能。 本文的看点不在于时效性，而在于通过历史数据揭示一些保险业的经营规律，为行业提供战略层面的考量依据。 2024年度寿险公司职工总人数约33.2万人，职工人数已经连续五年下降！ 2024年度寿险行业人均产能为961万元！尽管近些年来寿险行业保费增速放缓，由于公司人员精简优化，使得2024年人均产能同比增速依然高达1 ...

  By Jarrett Banks Haymarket Insurance Co., a unit of A-CAP, has filed a complaint in the Southern District of New York against private equity firm Leadenhall Capital Partners, accusing the latter of fraud in its dealings with Miami investment firm 777 Partners. Both A-CAP and Leadenhall have been creditors to 777, which once tried to buy the Premier League’s Everton Football Club. In the complaint, Haymarket argues that Leadenhall was grappling with mounting losses well beyond its ties to 777 by late ...

Core Viewpoint - Berkshire Hathaway's new CEO, Greg Abel, may be considering selling its 325 million shares in Kraft Heinz, a company co-created by Warren Buffett in 2015, indicating a potential shift in corporate strategy [1][4]. Group 1: Background and Context - The merger of Kraft and Heinz was orchestrated by Buffett and Brazilian investment firm 3G Capital, who believed in the strength of their brands [2]. - Over time, Buffett recognized that Kraft Heinz's competitive advantage was weakening as consumers shifted towards store brands and away from processed foods [3]. - Berkshire Hathaway recorded a $3.76 billion writedown on its Kraft Heinz stake last summer, reflecting concerns about the company's performance [3]. Group 2: Current Developments - Kraft Heinz disclosed that Berkshire Hathaway, its largest shareholder, "may offer to sell, from time to time, 325,442,152 shares," leading to a nearly 4% drop in Kraft Heinz shares to $22.85 [4]. - Analysts speculate that this could signal the beginning of a broader review of Berkshire's diverse holdings, which include a stock portfolio worth over $300 billion and various insurance and utility companies [5]. Group 3: Leadership and Strategic Changes - Analysts suggest that Greg Abel's leadership style may differ from Buffett's, potentially leading to a more aggressive approach to divestitures rather than acquisitions [6]. - Abel has been managing non-insurance companies since 2018 and became CEO on January 1, 2023, with investors closely monitoring any changes he may implement [8]. Group 4: Market Reactions and Future Considerations - Investor Chris Ballard noted that selling Kraft Heinz could be an easy decision for Abel, although unloading such a large stake on the public market may be challenging [9]. - Buffett previously stated that Berkshire would not accept a block bid for its shares unless the same offer was extended to all Kraft Heinz shareholders, indicating a cautious approach to any potential sale [10].

Core Insights - The company exceeded its financial targets for 2025, achieving an insurance service result of DKK 1.91 billion against a target of DKK 1.85 billion [1] - The combined ratio for the year was 83.7, indicating strong operational efficiency [1] - The investment result was DKK 0.34 billion, which is considered highly satisfactory [1] Financial Distribution - The Board of Directors recommends an ordinary dividend of DKK 0.66 per share, totaling DKK 0.9 billion for the 2025 financial year [3] - A new share buyback program is planned for DKK 1.5 billion, with DKK 1.0 billion classified as extraordinary [3] - The overall distribution corresponds to a payout ratio of 98% for 2025, with an SCR ratio of 193% after accounting for the expected distribution [3] Future Guidance - The company expects to achieve an insurance service result of DKK 1.65-1.85 billion in 2026, excluding run-off gains or losses [4] - The expense ratio is anticipated to be around 17%, with a combined ratio excluding run-offs projected at 84.5-86.5 [5] - The consolidated profit before tax is expected to be between DKK 1.85-2.05 billion, excluding other income and expenses [5] Strategic Outlook - The company aims to simplify customer interactions and enhance its position as a focused Danish non-life insurer [7] - The new strategy period is set to unfold potential benefits for both customers and shareholders, with ambitious targets set until 2028 [7]

转自：扬子晚报 这是自动态调整机制建立以来，该研究值连续第五次公布。回顾2025年前四次发布的数据：1月、4月、 7月、10月的研究值分别为2.34%、2.13%、1.99%和1.90%。 图源 视觉 中国 据中国保险行业协会（简称"中保协"）网站，1月20日，中保协组织召开人身保险业利率研究专家咨询 委员会（原"人身保险业责任准备金评估利率专家咨询委员会"）2025年四季度例会。会上，保险业专家 就人身保险产品预定利率发表了意见，认为当前普通型人身保险产品预定利率研究值为1.89%。 图源 中保 协网站 2025年1月，金融监管总局下发《关于建立预定利率与市场利率挂钩及动态调整机制有关事项的通 知》，要求每季度发布预定利率研究值，为预定利率调整提供核心依据。各人身保险公司动态调整普通 型、分红型人身保险预定利率最高值和万能型人身保险最低保证利率最高值。 扬子晚报/紫牛新闻记者 马燕 ...

无独有偶，2026年1月20日0凌晨，因暴雪天气客户施先生于盐城市阜宁县乡镇道路刹车打滑发生单方事 故，车辆失控冲下路边，无法行驶；片区理赔人员于成雄第一时间协助客户开展施救，减少客户寒夜现 场等待时间；一早冒着大雪到达维修店定损，通过手机定损平台在修理厂直接完成进场赔，当场进行理 赔，得知理赔完成时客户大感惊讶，仅半日就处理完成，感叹大地保险服务效率非常高，同时对我司理 赔服务非常认可，并表示以后认准我司，同时一定会推荐给亲朋共同选择！ 通讯员 黄小晶 该案得益于我司流程精简、科技赋能及本地化服务联动，雪天开通绿色理赔通道，真正实现"报案即定 损，定损即赔付"，用高效服务解决客户急难，获李先生高度认可。 江南时报讯 1月20日7时，江苏省常州市武进区李先生因强降雪导致出险。他通过我司95590线上报案并 上传现场照片，30秒内客服响应，线上理赔员后台30分钟完成定损，全程仅1小时06分赔款到账。 ...

Core Viewpoint - Travelers Companies, Inc. is experiencing mixed signals regarding its stock performance, with an upward trend in price targets contrasted by expectations of a decline in fourth-quarter earnings [2][3][5] Company Overview - Travelers Companies, Inc. operates in the insurance industry, providing a range of commercial and personal property and casualty insurance products through three main segments: Business Insurance, Bond & Specialty Insurance, and Personal Insurance [1] Price Target Trends - The consensus price target for TRV's stock has shown an upward trend over the past year, increasing from $299.14 last year to $310.5 last month, although it slightly decreased from $312.67 in the previous quarter [2][5] - Analyst Mark Dwelle from RBC Capital has set a more conservative price target of $190 for TRV, indicating concerns about the company's near-term earnings performance [3] Earnings Expectations - Despite the positive trend in price targets, Travelers is expected to report a decline in its fourth-quarter earnings, which raises potential challenges for the company [3][4][5] Investment Considerations - Investors are advised to focus on value, growth, and momentum trends to identify strong investment opportunities amidst the mixed signals regarding TRV's stock performance [4][5]

"存款搬家"需求增加 记者走访广州多家银行网点发现，在大量储蓄到期与存款低利率双重驱动下，"保底+浮动收益"的分红 险产品成为居民财富管理的主力产品之一，承接了部分储蓄迁移需求。 "一年期利率1.25%，三年期还要申请配额，这利率和三年前差太远了。"近日，广州市民王先生在银行 网点内反复权衡。2023年初，他将30万元闲置资金存入某国有大行三年期定期，锁定了3.1%的年利 率，如今存款到期，他既不愿接受银行"腰斩"的利率，转投其他产品又顾虑风险。 王先生的困扰并非个例。据多家券商测算，2026年初，全国金融市场将迎来规模或高达50万亿的定期存 款集中到期。这笔巨额资金会否流向资本市场，引发市场关注。 南都湾财社推出"50万亿存款到期，钱往何处去"系列策划，本期聚焦：在利率下行周期，保险产品凭何 承接稳健资金？分红险是否成为"存款搬家"最优解？ 据多家网点销售人员介绍称，当前短期大额存单利率已跌破1%，正式进入"0字头"时代，中长期利率也 大幅回落，普遍在1.55%～1.75%之间，与2023年普遍3%以上的水平相去甚远，且多数银行仅发行1年期 及以下产品。 与此同时，据机构普遍测算，2026年将有数十万亿元的 ...