Core Insights - The performance of combination insurance asset management products has been strong in the first three quarters of 2025, with 94.3% of the 1469 products reporting positive annualized returns [1][2] Group 1: Performance Overview - A total of 1469 combination insurance asset management products have disclosed their returns, with an average return of 12.63% and a median return of 3.93% [2] - The highest-performing product, managed by Dajia Asset Management, achieved a return of 164.85%, while the lowest, managed by Hu'an Financial Asset Management, reported a return of -30.52% [2] - Among 1005 fixed-income products, 92.8% reported positive returns, with an average return of 3.60% and a median of 2.54% [2][3] Group 2: Equity and Mixed Products - Of the 264 equity products, 98.1% achieved positive returns, with an average return of 37.92% and a median of 33.85% [3] - For 200 mixed products, 96.5% reported positive returns, with an average return of 24.68% and a median of 21.37% [3] - The strong performance of equity products is attributed to the significant rise in the A-share market, with major indices increasing by over 15% [3] Group 3: Focus on Technology Sector - The technology sector remains a key focus for insurance capital, with over 14,000 A-share companies surveyed by insurance institutions, particularly in electronic components and medical devices [4] - The emphasis on technology is due to its high growth potential and innovation capabilities, as well as its role in driving industrial upgrades [4] - Investing in technology aligns with national development strategies and offers substantial market demand and growth opportunities [4] Group 4: Investment Strategies - With favorable market policies and recovering capital market confidence, insurance capital is increasingly allocating to equity assets and adopting high-dividend strategies [5] - To mitigate short-term market volatility, insurance capital should maintain a prudent investment style and focus on long-term asset-liability matching [5] - Enhancing investment research and value discovery capabilities is essential for achieving higher returns [5]