中国太保一季度净利下降18%，拟回购不超过1%股份

Core Insights - The net profit of China Pacific Insurance (CPIC) declined by 18.1% year-on-year to 9.627 billion yuan in Q1, primarily due to fluctuations in the fair value of investment assets [1][3] - Despite the challenges in new single premium insurance, the new business value increased by 11.3% year-on-year, reaching 5.778 billion yuan, with a comparable growth of 39% [3] Financial Performance - In Q1, CPIC achieved insurance service revenue of 69.55 billion yuan, a year-on-year increase of 3.9%, with life insurance revenue at 20.98 billion yuan (up 0.6%) and property insurance revenue at 47.741 billion yuan (up 4.8%) [2] - The new single premium insurance from the agent channel decreased by 15.2% year-on-year, while the bancassurance channel saw a significant increase of 130.7%, reaching 20.114 billion yuan [2] Investment Strategy - As of the end of Q1, CPIC's investment assets totaled 2.81 trillion yuan, reflecting a growth of 2.8% from the previous year [4] - The company maintained a disciplined approach to strategic asset allocation, focusing on long-term fixed income assets and actively managing equity investments to achieve stable performance [4] Share Buyback Plan - The board of CPIC approved a proposal to seek shareholder authorization for a share buyback, with a maximum of 1% of the issued shares, which could cost over 2.5 billion yuan based on current market prices [1]