People's Insurance, China Life, Ping An, Taibao, and New China Life jointly announce that their annual proposed dividends will exceed 100 billion yuan!

Source: Financial Times

On March 27, all five A-share listed insurance groups’ 2025 annual performance and dividend plans were fully disclosed. China Life Insurance, China People’s Insurance, China Ping An, China Taiping, and New China Life together reported total net profit attributable to shareholders of 4252.91 billion yuan for the full year, with planned dividends exceeding 100 billion yuan. Whether in terms of profitability scale or the strength of shareholder returns, the five insurers delivered a solid performance.

China People’s Insurance:

In 2025, it achieved net profit attributable to shareholders of 466.46 billion yuan, up 8.8% year over year. For the property insurance business, the combined cost ratio was 97.6%, the best level in recent years; for life insurance, the new business value was 156 billion yuan. Total investment returns were 923 billion yuan, setting a new historical high; total assets exceeded 2 trillion yuan, and net assets exceeded 400 billion yuan.

China People’s Insurance plans to pay a cash dividend of 1.45 yuan per 10 shares for the 2025 final dividend (including tax), for a total distribution of 64.12 billion yuan. The total cash dividend for the full year reached 97.29 billion yuan, accounting for 20.9% of net profit; the dividend amount hit a new historical high.

China Life Insurance:

In 2025, it achieved net profit attributable to shareholders of 1540.78 billion yuan, with strong growth of 44.1% on a high base; the embedded value was 1.47 trillion yuan, staying firmly at the top of the industry. Total premium first exceeded 700 billion yuan, reaching 7298.87 billion yuan, up 8.7%. Last year delivered one of the best investment performances in recent years, with total investment returns of 3876.94 billion yuan, up 25.8%, and a total investment return rate of 6.09%.

China Life Insurance plans to distribute to all shareholders a 2025 final dividend of 0.618 yuan per share (including tax). The total 2025 final cash dividend is expected to be approximately 174.68 billion yuan (including tax). The full-year cash dividend is 0.856 yuan per share (including tax), totaling 241.95 billion yuan (including tax).

China Ping An:

In 2025, it achieved net profit attributable to shareholders of 1347.78 billion yuan, up 6.5%; operating profit attributable to shareholders was 1344.15 billion yuan, up 10.3%. Its life insurance and health insurance business maintained a growth trend, achieving new business value of approximately 368.97 billion yuan, up 29.3%; Ping An Property & Casualty achieved a combined cost ratio of approximately 96.8%. The insurance funds investment portfolio achieved a combined investment return rate of 6.3%.

China Ping An plans to pay a cash dividend of 1.75 yuan per share for the 2025 final dividend. The full-year cash dividend was 2.70 yuan per share, up 5.9%; the total cash dividend amounted to 488.91 billion yuan, maintaining an upward trend for 14 consecutive years.

China Taiping:

In 2025, it achieved net profit attributable to shareholders of 535.05 billion yuan, up 19.0%. New business value for life insurance was 186.09 billion yuan, up 40.1%; underwriting combined cost ratio for Taiping Property & Casualty was 97.5%. As of the end of 2025, net assets attributable to shareholders were 3021.43 billion yuan, up 3.7% from the end of the previous year; assets under management were 3.89 trillion yuan, up 9.8% from the end of the previous year.

China Taiping plans to pay a cash dividend of 1.15 yuan per share (including tax), up 6.5% year over year, for a total cash distribution of 110.63 billion yuan, with a dividend payout ratio of 74.6%.

New China Life:

In 2025, it achieved net profit attributable to shareholders of 362.84 billion yuan, up 38.3%. Original insurance premium income was 1958.71 billion yuan, up 14.9%; embedded value was 2878.40 billion yuan, up 11.4%; new business value exceeded 98 billion yuan, up 57.4%. Total investment returns were approximately 1043 billion yuan, up 30.9% year over year; the total investment return rate reached 6.6%.

New China Life plans to distribute cash dividends of 2.06 yuan per share to all shareholders (including tax), with the total expected distribution amount being 64.26 billion yuan. For 2025, the company plans to distribute cash dividends totaling 85.16 billion yuan, up 7.9% year over year.

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责任编辑：江钰涵