With the completion of annual reports by listed insurers, the investment strategies of major insurance capital have come to light. According to statistics, by the end of 2024, the total investment assets of the five A-share listed insurers (China Life, Ping An, CPIC, PICC, NCI) reached CNY18.34tn ($2.53tn), including CNY1.43tn in stock assets, an increase of over CNY372bn from the same period in 2023, representing a 35% growth. Driven by equity investments in 2024, the total investment income of the five A-share listed insurers increased by 117.7% year-on-year.