Insurance Giants' Stock Investments Soar: Big Five Earn RMB 15 Billion Daily, <name_en>New China Life Insurance Company Ltd.</name_en> Leads with 687% Gain

Deep News11-04

The third-quarter reports of 2025 revealed stellar performances by China's top five listed insurers. Combined, they generated approximately RMB 426 billion in net profit, equivalent to RMB 17.5 billion daily.

New China Life Insurance Company Ltd. stood out with a 687.16% surge in investment income, leading the pack. The insurers' total investment assets exceeded RMB 20 trillion, with banking stocks dominating their portfolios—seven of their top ten holdings were bank shares.

**Profit Breakdown** - **China Life Insurance**: RMB 167.8 billion net profit (+60.5% YoY) - **Ping An Insurance**: RMB 132.86 billion (+11.5% YoY) - **PICC, CPIC, and New China Life Insurance Company Ltd.**: RMB 46.82 billion, RMB 45.7 billion, and RMB 32.86 billion, respectively.

**Investment Performance** The insurers' combined net investment income reached RMB 357.125 billion, more than doubling year-over-year: - **China Life**: RMB 137.075 billion (+453.75% YoY) - **Ping An**: RMB 101.346 billion (+105.58% YoY) - **New China Life Insurance Company Ltd.**: RMB 40.413 billion (+687.16% YoY)

**Investment Yields** - **New China Life Insurance Company Ltd.**: 8.6% annualized total return (highest among peers) - **China Life**: 6.42% (+104 bps YoY) - **Ping An, PICC, CPIC**: 5.4%, 5.4%, and 5.2%, respectively

**Portfolio Adjustments** Insurers increased equity investments, expanding their asset bases: - **China Life**: RMB 7.28 trillion (+10.2% YTD) - **Ping An**: RMB 6.41 trillion (+11.9% YTD) - **PICC**: RMB 1.83 trillion (+11.2% YTD)

**Top Holdings & Sector Focus** Banking stocks remained the core allocation, with **Postal Savings Bank (PSBC)** receiving the largest inflow—RMB 12.556 billion in added shares (+213 million). Other notable buys included **Nanjing Bank** (+256.8 million shares) and **Hualing Steel** (+244.08 million shares). Insurers also favored steel, transportation, and utilities sectors.

The insurers' strategic shifts underscore their confidence in banking and selective industries, driving record investment gains.

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

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