PICC Life Insurance's individual insurance staff reduction exceeds 5,800 people in 2025, with the banking and insurance channel emerging as the main driver of premium income.

The optimization of team structure has led to significant efficiency improvements. The annual report disclosed that in 2025, the average effective workforce was only 19,770, accounting for 25.7% of the overall team, which means that only one out of every four agents can continuously generate performance. This transformation approach of “enhancing quality while reducing quantity” has significantly improved per capita productivity, and individual insurance channel premium income still achieved a year-on-year growth of 5.4%, reaching 54.004 billion yuan. In contrast, the premium income from the bancassurance channel surged by 33.5% year-on-year to 68.278 billion yuan, with its share of total premiums rising to 54.2%, completely changing the previously dominant individual insurance business pattern.

The property insurance sector has maintained a stable workforce. By the end of 2025, the number of sales and industry personnel at PICC Property and Casualty was 161,000, a decrease of only 1,700 from the previous year, keeping the reduction at 1.0%. This differentiated adjustment strategy reflects the group’s strategic positioning for different business segments: the life insurance segment focuses on improving development quality, while the property insurance segment emphasizes maintaining the stability of the service network. Data shows that the slight adjustment in property insurance personnel did not affect operational performance, and the premium income in 2025 continued to maintain an industry-leading position.

The group as a whole has shown a robust growth trend. In 2025, it achieved operating income of 669.044 billion yuan, a year-on-year increase of 7.6%; net profit reached 63.033 billion yuan, with an increase of 9.0%. In the financial report speech, Chairman Ding Xiangqun clearly proposed the development policy of “focusing on the main insurance business,” emphasizing the optimization of business layout around the three core segments of property insurance, personal insurance, and investment, constructing a tiered development pattern through balanced structural allocation. This strategic adjustment is reflected not only in the reallocation of channel resources but also in the deep optimization of personnel structure.

Industry insiders analyze that the transformation path of PICC Life Insurance has demonstration significance for the industry. By actively eliminating inefficient personnel, although this leads to a contraction in team size in the short term, it has effectively improved channel productivity and operational efficiency. The rise of the bancassurance channel demonstrates the deepening cooperation model between insurance companies and banks, and this resource integration strategy is reshaping the competitive landscape of the life insurance market. It is noteworthy that during the transformation process, the group has consistently maintained the basic stability of the property insurance business, and this “having insurance and pressure” adjustment strategy provides important reference for the industry.