Listed insurance companies' first quarter "report card" shines: optimized business structure, significant increase in investment income.

In the first quarter of 2025, the five largest listed insurance companies in A-shares handed in a stable and promising "report card", with a total net profit exceeding 84 billion yuan, achieving growth compared to the same period last year. At the same time, the performance structure of listed insurance companies has improved, and the contribution of fee spread to company performance has increased. Some market participants believe that looking ahead to the full year of 2025, both the liability and asset sides of insurance companies are expected to improve year-on-year. On the liability side, due to the high-quality transformation of agents and the improvement of the new business value rate, the new business value of life insurance is expected to continue to improve; on the asset side, with the continuous introduction of favorable policies in the domestic market, the bullish capital market is conducive to the investment performance of insurance companies.