China Postal Life Insurance saw an 83% increase in long-term dividend insurance premiums in the first quarter. The general manager stated that the movement of deposits to the insurance sector is limited.

Recently, Li Xuejun, the general manager of China Post Life Insurance Co., Ltd., introduced at the company's 2026 media open day that in the first quarter of this year, China Post Life achieved a year-on-year growth of 33% in new single premiums, an 83% growth in long-term dividend insurance premiums, with the proportion of new single premiums accounting for over 70% of the period-paid premiums, and period-paid premiums of five years and above accounting for over 40% of the first-year premiums. The cost guarantee liability rate for new singles has dropped to below 2%, and the liability structure continues to be optimized, laying a solid foundation for the value transformation for the whole year. Regarding the market's concern about the maturity of deposits, Li Xuejun stated that the market's overall expectation of the "deposits moving" trend is high. In the first quarter, over 90% of medium- to long-term deposits due were still absorbed by the banking system, with limited funds truly flowing into the insurance sector. However, he also believes that the trend of residents diversifying their asset allocation has formed and that there will be significant future growth opportunities in commercial insurance, especially commercial pension insurance. He mentioned that many residents save money primarily for retirement, but savings accounts usually have short terms and are difficult to plan for long-term stable cash flow in a context of declining interest rates. With life expectancy increasing and residents' demands for retirement income replacement rates rising, there is still growth potential for commercial pension businesses that can provide long-term cash flow arrangements.