Core Viewpoint - The insurance industry is experiencing a significant transformation, with the "National Ten Articles" and the "Big Insurance View" guiding high-quality development, emphasizing the importance of the insurance sector's role in the economy [1][12]. Group 1: Company Performance - Dajia Insurance Group reported a premium income of 137.7 billion yuan in 2024, marking the third consecutive year of exceeding 100 billion yuan in premiums [4]. - The company has seen a shift in its business structure, with renewal premiums surpassing new premiums for the first time, indicating effective business optimization [4]. - From 2019 to 2024, Dajia Insurance has significantly reduced its life insurance liability costs, achieving a liability funding cost rate better than the industry average [4]. Group 2: Life Insurance Segment - Dajia Life Insurance has maintained a strong market position, ranking second in the bank insurance market for four consecutive years, with new single premiums reaching 25.8 billion yuan in 2024 [7]. - The independent agent model has shown remarkable growth, with a 42% year-on-year increase in average monthly productivity per agent, reaching 90,000 yuan [7]. - The contribution of pension-related premiums has grown significantly, with a five-year compound growth rate of 71%, indicating the success of the "insurance + pension" strategy [8]. Group 3: Property Insurance Segment - Dajia Property Insurance achieved its first profit in 2024, with a net profit of 25.39 million yuan, and a premium income of 9.42 billion yuan, reflecting over 10% growth [9]. - The company has successfully adjusted its business structure, with non-auto insurance accounting for over 30% of its total premiums [9]. Group 4: Pension Strategy - Dajia Insurance has established a service-oriented pension strategy, launching the "City Center Pension" model, which focuses on light asset operations in urban areas [11]. - The occupancy rates of its pension communities have exceeded 97% in some locations, demonstrating the effectiveness of its operational model [11]. - The company has expanded its pension service offerings, with plans to deepen its exploration in various service forms related to pension, healthcare, and rehabilitation [12].