Promoting the "three transformations" transformation, China Taiping's subsidiary Taiping Life Insurance ran out with development "acceleration".

On March 26, CHINA TAIPING (00966) held its 2025 annual performance conference, where the General Manager of Taiping Life Insurance, Wang Xuzi, attended. In response to questions, he stated that the company will deepen its transformation towards "three transformations". In August 2024, Taiping Life Insurance took the lead in the industry by initiating the transformation of dividend insurance. By 2025, the company's total channel dividend insurance premium accounted for nearly 90% of the long-term insurance premium, putting it at the forefront among listed insurance companies. In 2025, the company achieved a new business value of 8.661 billion RMB, a year-on-year increase of 2.7%; insurance service income and insurance service performance increased by 3.2% and 5.9% respectively year-on-year; the marginal contract service reached 191.67 billion RMB, an increase of 2%. The individual insurance and bancassurance continued to lead the industry. Wang Xuzi stated that in 2026, the company will have firm development confidence, maintain strategic endurance, and advance the "three transformations" - diversification of products, diversification of term structures, and refinement of interest rate risk management. While strictly observing the risk bottom line, the company aims to achieve organic integration of profit stability, channel stability, and capital creation. In simple terms, the main focus will be on dividend insurance, while also expanding into health insurance, pension insurance, and annuity insurance, extending the policy duration, and reducing the impact of interest rate fluctuations on profitability. Since the beginning of 2026, the company's "three transformations" have shown results, with an increase in the proportion of annuity insurance business and a steady increase in the proportion of new single premiums with terms of 5 years or more, further enhancing its value creation capabilities.