Core Insights - The second batch of long-term investment pilot programs for insurance funds has made substantial progress, with 7 insurance-related private equity fund managers established and registered, and 9 private funds entering the operational phase [1][2] - Sunshine Hengyi (Qingdao) Private Fund Management Co., Ltd. has registered as the 7th insurance-related private fund manager, with a registered capital of 10 million yuan, established by Sunshine Insurance Group [1] - Sunshine Insurance Group has received approval to participate in the long-term investment pilot with a scale of 20 billion yuan, focusing on long-term stock investments [1][3] Investment Fund Developments - The long-term investment pilot program has seen a total of 222 billion yuan approved across three batches, involving major institutions such as China Life, New China Life, and several other insurance companies [2] - Nine insurance-related private equity funds are currently operational, including various funds managed by Guofeng Xinghua and Taikang Life [2] Fund Management and Strategy - The Taiping Zhuoyuan No. 1 Fund and Renbao Qiyuan Huizhong No. 1 Fund were established in mid-October and have entered the operational phase [3] - China Insurance has announced the establishment of a private fund management company, with an initial investment scale of 10 billion yuan for its long-term stock investment pilot fund [3] - The pilot program is supported by accounting measurement and solvency policies, which help reduce profit volatility under new accounting standards, thereby enhancing the willingness of insurance funds to allocate equity assets [3]