Insurance asset allocation reaches a new high; over 60% of insurance companies plan to increase their holdings this year

Gelonghui February 26 | According to Yicai, the Financial Regulatory Administration recently released the 2025 Q4 insurance company fund utilization report, which shows that by the end of 2025, the total funds used by the insurance industry reached 38.5 trillion yuan, an increase of 15.7% year-on-year. Among them, the allocation to core equity assets (stocks + securities investment funds) significantly increased by 1.6 trillion yuan from the beginning of the year, reaching 5.7 trillion yuan. Stocks increased by 1.31 trillion yuan, and funds increased by 290 billion yuan, accounting for over 15% of the major asset allocation of life insurance companies. “(Insurance funds’) equity allocation remains at a historic high,” said Xu Kang, Chief Analyst and Head of Financial Industry Research at Huachuang Securities. The interest in increasing equity asset allocation by insurance funds is expected to continue into 2026.

The China Banking and Insurance Asset Management Association recently released the 2026 asset allocation outlook survey for insurance institutions (referred to as the “survey results”), which shows that stocks and securities investment funds are the most favored domestic investment assets for insurance institutions in 2026, with over 60% of insurers willing to moderately or slightly increase their stock investments.