横琴人寿保险有限公司（以下简称"横琴人寿"）近日披露的2025年第二季度偿付能力报告显示，该公司上半年实现保险业务收入43.9亿元，净亏损8.39亿 元，综合退保率等指标呈现阶段性波动。 这家近十年的寿险企业在核心管理层历经一年多调整后，近期迎来重要补位：8月6日，严志扬获批出任横琴人寿党委委员、纪委副书记兼审计责任人；8月 12日，杨静波获广东金融监管局核准总经理助理任职，两人信息已同步在官网公示。其行业转型期的发展路径备受关注。 上半年净亏损8.39亿元 保险业务收入降22.85% 从经营数据来看，横琴人寿今年上半年的表现承压明显。根据偿付能力报告，该公司今年上半年实现保险业务收入43.9亿元，同比下降22.85%。净利润亏损 8.39亿元，这一数字已超过2024年全年5.64亿元的亏损总额。 横琴美好如意年金保险退保金额居前 在业务经营之外，退保情况作为行业转型期的常见现象，横琴人寿二季度部分产品的退保数据也受到关注。。 | 产品名称 | 产品 | | 报告期 | | 年度累计 | | | --- | --- | --- | --- | --- | --- | --- | | | 类型 | 主要销售渠道 ...

Core Insights - Hengqin Life Insurance Co., Ltd. reported a significant net loss of 839 million yuan in the first half of 2025, with insurance business revenue declining by 22.85% to 4.39 billion yuan [2][8] - The company is undergoing a management restructuring, with key appointments made in August 2025, including the approval of new positions for Yan Zhiyang and Yang Jingbo [6][7] - The insurance industry is currently facing a critical transformation period, with Hengqin Life needing to address its expanding losses while making progress in its reform efforts [8] Financial Performance - Hengqin Life's insurance business revenue for the first half of 2025 was 4.39 billion yuan, a decrease of 22.85% year-on-year [2] - The net loss of 839 million yuan in the first half of 2025 surpassed the total loss of 564 million yuan for the entire year of 2024 [2] - The company reported a net cash flow from operating activities of -970 million yuan, with a significant shortfall in the dividend account business of -3.3 billion yuan [2] Policy and Regulatory Compliance - As of the end of Q2 2025, Hengqin Life's core solvency adequacy ratio was 157.40%, an increase of 1.15 percentage points from the previous quarter, while the comprehensive solvency adequacy ratio rose to 189.34% [4] - The company has maintained a stable risk composite rating of B, indicating that its overall risk is manageable [5] Management Changes - Recent management changes include the dismissal of compliance officer Li Xuecheng and the appointment of Ling Libo as the chief compliance officer [6] - The company has experienced multiple rounds of management adjustments since 2024, with significant leadership changes aimed at stabilizing operations [6][7] Industry Context - The life insurance industry is undergoing a transformation, facing challenges related to business optimization and model shifts [8] - Hengqin Life's ability to adapt to the evolving market conditions and leverage policy benefits in the Greater Bay Area will be crucial for its future competitiveness [8]