Core Insights - The insurance asset management industry demonstrated strong profitability in the first half of 2025, with four institutions reporting a total revenue of 6.925 billion yuan, a year-on-year increase of 15.4%, and a net profit of 3.494 billion yuan, reflecting a 29.3% growth [1][3] Group 1: Performance Highlights - China Life Asset Management led in revenue with 3.554 billion yuan, while net profits from China Life Asset and Taikang Asset exceeded 1 billion yuan, achieving 2.076 billion yuan and 1.316 billion yuan respectively [3] - China Life Asset's net profit growth was the highest among the four institutions, with a year-on-year increase of 35.7% [3] - Allianz Asset Management showed remarkable revenue growth of 37.0%, successfully turning losses into profits, indicating a positive operational improvement trend [3] Group 2: Strategic Development - The insurance asset management sector is actively pursuing the development of third-party business, which has become a consensus in the industry [4] - From 2021 to 2023, the proportion of internal insurance funds in the funding sources of insurance asset management companies has been declining, while the share of third-party funds has been increasing [4] - By the end of 2024, the overall asset management scale of China's large asset management industry is expected to reach approximately 163.16 trillion yuan, with insurance fund utilization at 33.26 trillion yuan, the largest in the industry [4] - Leading insurance asset management institutions are prioritizing third-party business as a key development goal, with China Life Asset explicitly stating its commitment to advancing third-party business development and enhancing product configuration capabilities [4]