中国经济网北京8月30日讯(记者马欣)新华保险（601336）昨日召开2025年中期业绩发布会，新华保险 董事长杨玉成在会上表示，2025年上半年公司业务转型成效明显，新单业务增长强势，续期业务坚如磐 石，各渠道业务均实现较好增长。 对于新华保险股价表现，杨玉成回应称，"我认为公司很具有投资价值。这两年来，公司内涵品质和价 值确实得到了极大地改善。"他表示，自2023年8月中下旬任职以来，新华保险经营业绩、渠道能力、产 品实力、服务体系、科技运营、基础管理、品牌形象、股价和市值"都达到了新的高度"，核心竞争力、 内部品质与价值持续提升，综合竞争实力增强。 展望未来，杨玉成表示，保险行业的广度和深度有很大的发展前景，"我们将牢牢抓住寿险业的黄金机 遇发展期，完全有信心、有底气、有能力进一步做强做优做大新华保险。" 多措并举推动业务高质量发展 8月28日晚，新华保险发布2025年半年度报告。今年上半年，该公司原保险保费收入1213亿元，同比增 长22.7%；新业务价值61.82亿元，同比增长58%。 中报显示，新华保险总资产达到1.78万亿，较上年末增长5%；投资规模突破1.7万亿元，较上年末增长 5.1%；年化 ...

Core Viewpoint - Sunshine Insurance has reported a positive performance for the first half of 2025, with growth in core business value and structural optimization, leading to multiple brokerages issuing "buy" ratings [2] Group 1: Financial Performance - Total premium income for Sunshine Insurance reached 80.81 billion yuan, a year-on-year increase of 5.7% [2] - Insurance service income was 32.44 billion yuan, growing by 3.0% year-on-year [2] - Net profit attributable to shareholders was 3.39 billion yuan, reflecting a 7.8% increase [2] - The group's embedded value reached 128.49 billion yuan, up 11.0% from the end of the previous year [2] Group 2: Life Insurance Segment - Sunshine Life's new business value (NBV) grew by 47.3% year-on-year to 4.01 billion yuan [3] - The balance of Contractual Service Margin (CSM) was 56.08 billion yuan, an increase of 10.3% from the previous year [3] - Individual insurance premium income was 15.34 billion yuan, up 12.1% year-on-year, with new single premium income at 3.44 billion yuan [3] Group 3: Distribution Channels and Customer Management - The bancassurance channel generated total premium income of 35.44 billion yuan, a 4.2% increase, with new single premium income at 12.87 billion yuan [5] - The number of active outlets increased by 7.6%, and active personnel rose by 2.1% [5] - The company launched a customer demand perception plan to enhance customer experience and optimize product and service layout [5] Group 4: Non-Motor Insurance and Cost Management - Sunshine Property Insurance reported original premium income of 25.27 billion yuan, a 2.5% increase, with a comprehensive cost ratio improved by 0.3 percentage points to 98.8% [6] - Non-motor insurance premium income grew by 12.5%, accounting for 50.6% of total premiums [6] - Health and accident insurance premiums increased by 20.0% to 5.21 billion yuan [7] Group 5: Social Responsibility and Community Engagement - Sunshine Insurance provided risk protection of 35 trillion yuan to the real economy, with an investment balance exceeding 480 billion yuan [8] - The company supported small and micro enterprises with nearly 1.2 trillion yuan in risk protection [8] - In the first half of 2025, the company mobilized 5,029 volunteers, contributing a total of 13,399 hours of service [9]

寿险NBV同比增长近五成 "知心阳光"战略推动客户增长 业绩报告显示， 2025年上半年，阳光人寿在可比口径下的新业务价值（NBV）同比增长 47.3%，达到40.1亿元。 今年实际披露的 NBV较去年同比上升7.0%，无论调整前后均实现正增 长，表现优于部分市场预期。寿险合同服务边际（CSM）余额为560.8亿元，较上年末增长 10.3%。 阳光保险在业绩报告中表示，上半年阳光人寿持续推进多元化发展战略，通过多业务条线协同推动 公司转型升级。经营效能进一步增强，价值创造能力提升，产品结构持续优化，负债成本有效控 制，为长期可持续发展奠定基础。 内含价值是衡量保险公司经营状况的重要指标。在当前保险行 业高质量转型的阶段，阳光保险实现内含价值两位数增长，其 动力来源值得关注。 作者： 江雨 封图：图片资料室 近日，阳光保险披露了 2025年中期业绩报告，其核心业务价值增长且结构持续优化，多家券商给 予其"增持"评级。 数据显示， 2025年上半年，阳光保险实现总保费收入808.1亿元，同比增长5.7%；保险服务收 入324.4亿元，同比增长3.0%；归属于母公司股东的净利润33.9亿元，同比增长7.8%。集团内 ...

Core Viewpoint - Sunshine Insurance reported a year-on-year increase of 7.8% in net profit attributable to shareholders for the first half of 2025, reaching 3.39 billion yuan, with life insurance and property insurance net profits growing by 5.6% and 2.6% respectively [1][2] Group 1: Performance Summary - The net business value (NBV) of life insurance increased by 47.3% year-on-year to 4.01 billion yuan, with individual insurance and bank insurance channels growing by 23.5% and 53% respectively [1] - The comprehensive cost ratio (CoR) for property insurance improved by 0.3 percentage points to 98.8%, with claims and expense ratios showing mixed trends [2] - Sunshine Insurance's total insurance premium income rose by 2.5% year-on-year to 25.27 billion yuan, with a notable increase in non-auto insurance premiums [2] Group 2: Investment and Valuation - The internal value of Sunshine Group grew by 11.0% to 128.49 billion yuan, while net assets decreased by 10.1% to 55.84 billion yuan due to the impact of interest rate declines [2] - The company is currently trading at 0.38x and 0.33x P/EV for 2025 and 2026 estimates, with a target price of 4.60 HKD and a potential upside of 2.7% [2]

财险承保盈利同比改善 1H25阳光财险原保险保费同比增长2.5%至252.7亿元，其中非车险分别同比+12.5%，非车险保费占比 50.6%，同比提升4.5ppt;CoR同比-0.3ppt至98.8%，其中赔付率/费用率分别同比+2.5ppt/-2.8ppt;车险CoR 同比-1.6ppt至98.1%，车险中家用车保费占比提升3ppt，新能源车险保费占比提升2.1ppt。 寿险NBV及合同服务边际(CSM)余额快速增长，新业务产品结构优化 集团内含价值快速增长 1H25阳光人寿NBV可比口径下同比+47.3%至40.1亿元，其中个险/银保分别同比+23.5%/+53%;今年实际 披露NBV比去年实际披露同比+7.0%，调整后/调整前仍实现增长，好于该行预期;寿险CSM余额560.8亿 元，较上年末增长10.3%。分渠道看，个险渠道"浮动收益型+保障型产品"占比超50%;银保渠道"浮动收 益型+保障型产品"占比27.1%，分红险转型下产品结构优化明显。 中金发布研报称，阳光保险(06963)当前交易于0.38x/0.33x2025e和2026e P/EV，维持公司2025-2026年盈 利预测基本不变，维持目标 ...

Core Viewpoint - The report from CICC maintains the profit forecast for Sunshine Insurance for 2025-2026, with a target price of HKD 4.60, indicating a potential upside of 2.7% based on the current trading multiples of 0.38x/0.33x P/EV for 2025e and 2026e [1] Group 1: Life Insurance Performance - Sunshine Life's new business value (NBV) increased by 47.3% year-on-year to CNY 4.01 billion in 1H25, with individual insurance and bank insurance channels growing by 23.5% and 53% respectively [2] - The contract service margin (CSM) balance for Sunshine Life reached CNY 56.08 billion, reflecting a 10.3% increase from the end of the previous year [2] - The product structure has improved significantly, with over 50% of individual insurance channel products being floating income and protection-type products [2] Group 2: Property Insurance Performance - Sunshine Property's original insurance premium grew by 2.5% year-on-year to CNY 25.27 billion in 1H25, with non-auto insurance premiums increasing by 12.5% [3] - The combined ratio (CoR) improved by 0.3 percentage points to 98.8%, with the loss ratio and expense ratio changing by +2.5 percentage points and -2.8 percentage points respectively [3] - The combined ratio for auto insurance decreased by 1.6 percentage points to 98.1%, with the proportion of household vehicle premiums increasing by 3 percentage points [3] Group 3: Investment Performance - The net and total investment yields for Sunshine were 3.8% and 4.0% respectively in 1H25, showing stable performance despite a high base effect from bond investments in 1H24 [4] - The asset allocation saw an increase in stock proportion by 1.8 percentage points compared to the end of the previous year, along with an increase in long-duration interest rate bonds to optimize the duration structure and cost-revenue matching [4] Group 4: Group Value Growth - The intrinsic value of Sunshine Group reached CNY 128.49 billion in 1H25, marking an 11.0% increase from the end of the previous year [5] - The net assets amounted to CNY 55.84 billion, primarily due to the use of a 60-day moving average of government bond yield curves for discounting traditional insurance reserves [5]

新华保险 中国人保 中国人寿 中国平安 中国太保 新华保险 分时图 日K线 周K线 月K线 64.69 0.94 1.47% 1.60% 1.07% 0.53% 0.00% 0.53% 1.07% 1.60% 62.73 63.07 63.41 63.75 64.09 64.43 64.77 09:30 10:30 11:30/13:00 14:00 15:00 0 25万 49万 74万 今年以来，保险行业出现一个令人瞩目的变化：部分上市保险公司选择停止披露月度保费收入数据。 中国平安（601318）于2025年1月14日披露了2024年全年原保险合同保费收入后，便再未发布月度保费 公告；中国人保（601319）和中国人寿（601628）寿险公司也采取了类似做法。目前，这三家险企已连 续7个月未披露月度保费数据。这一变化并非统一行动，在A股上市险企中，中国太保（601601）和新 华保险（601336）仍按月披露保费数据。 中国平安近期在"上证e互动"平台的回应，为这一变化提供了部分解释：切换新准则后，原保险保费收 入不能完全反映保险公司尤其是人身险公司的保险服务收入情况，此项也不是目前监管部门要求必须披 ...

近日，中国人保、中国太平、中国人寿集团等多家保险公司陆续召开2025年上半年工作会议，总结 上半年经营业绩，部署下半年工作重点。 整体来看，上半年，多家保险公司资产规模、保费收入实现增长。对于下半年工作重点，"提升金 融服务实体经济质效""加强资负联动""加快推进数字化转型"等成高频词。 主要业绩指标实现增长 多家保险公司在工作会议上透露了上半年经营业绩。整体来看，2025年上半年，多家保险公司主要 业绩指标实现增长。 比如，中国人保表示，截至6月底，集团共承担保险责任金额1780万亿元，管理总资产突破4万亿 元，较年初增长11.3%。 中国太平表示，截至2025年6月底，集团总资产达1.7万亿元，较年初增长6.4%；管理投资资产2.5 万亿元，较年初增长0.4%；总保费收入1556.7亿元。 光大永明人寿表示，下半年将重点完善产品体系，推进分红型、保障型及商保年金等产品备案，构 建特色供给；深化科技赋能，推动"AI光小助"应用，加速智能化转型，释放新动能；防范化解风险，推 进产品转型、资产配置优化及资本补充，稳定偿付能力等。 此外，部分上市险企近日披露了上半年保费收入。2025年上半年，新华保险累计原保险保 ...