NCI(601336) 经济观察报·2025-03-29 02:45Core Viewpoint - The company, Xinhua Insurance, reported a significant increase in net profit by 201.1% year-on-year, emphasizing a customer-centric approach and a commitment to service excellence [1][2]. Financial Performance - In 2024, Xinhua Insurance achieved a net profit attributable to shareholders of 26.229 billion yuan, with total assets reaching 1.69 trillion yuan, marking a 20.6% increase [1]. - The original insurance premium income reached 170.511 billion yuan, setting a historical high despite a modest year-on-year growth of 2.8% [1][7]. - The company announced a generous dividend strategy, proposing a total dividend of 7.893 billion yuan for the year, which is 30.1% of the net profit and represents a 197.6% increase from the previous year [1]. Investment Performance - Xinhua Insurance's investment performance was a key driver of the profit increase, with an investment scale of 1.629 trillion yuan and an investment income of 16.306 billion yuan, reversing the losses of 2023 [3][4]. - The comprehensive investment return rate improved significantly to 8.5%, up by 5.9 percentage points year-on-year [4]. - The company increased its high-dividend FVOCI equity investments from 5.370 billion yuan to 30.640 billion yuan, a growth of 470.6% [4]. Business Development - The new business value grew by 106.8% to 6.253 billion yuan, with a new business value rate of 14.6%, an increase of 7.9 percentage points from 2023 [6][8]. - The individual insurance channel generated a premium income of 115.970 billion yuan, showing a slight growth of 0.3%, while the bancassurance channel saw a more robust growth of 8.1% [8]. - The company is focusing on long-term, high-value insurance products, with long-term insurance first-year premiums reaching 13.235 billion yuan, a 19.7% increase [8]. Strategic Focus - The company aims to balance traditional and floating yield products, as well as ensure alignment between assets and liabilities to mitigate risks associated with interest rate fluctuations [9]. - Future strategies include optimizing the organizational structure, enhancing customer service, and strengthening the investment sector [9].