New trends in risky asset allocation: Increase in stock and fund holdings, while the proportion of bonds decreases compared to the previous period.

In the third quarter of 2025, the balance of insurance fund utilization continued to grow, with insurance funds continuing to increase their holdings of equity assets, while the proportion of fixed income assets decreased. The latest data from the Financial Regulatory Bureau shows that as of the end of the third quarter, the total balance of stock investments by life insurance companies and property insurance companies reached 3.62 trillion yuan, with both scale and proportion further increasing compared to the end of the second quarter. Additionally, the proportion of bond allocations by life insurance companies decreased compared to the previous period, and the scale and proportion of bank deposit allocations by both life insurance companies and property insurance companies also decreased compared to the previous period.