NCI recently held its 22nd All-Channel Summit, marking a significant step in its strategic shift. The company outlined a development model integrating "insurance, services, and investments," adjusting its growth and operational strategies.

Chairman Yang Yucheng revealed plans to invest no less than 3 billion yuan over the next three to five years in AI and big data, implementing a "Big Tech/AI+" strategy. This move coincides with NCI’s 30th anniversary, during which it launched multiple participating insurance products, including the Shengshi Rongyao Celebration Edition Whole Life Insurance (Participating), to capture market share.

Since September, NCI has introduced several participating policies, such as the Shengshi Rongyao Excellence Edition Whole Life Insurance (Participating) and Shengshi Anying Excellence Edition Pension Insurance (Participating), signaling its commitment to this segment.

However, the company faces challenges with policy surrenders. In Q3 2025, NCI reported a 386 million yuan surrender for its Fuxiang Yisheng Whole Life Annuity Insurance (Participating), accumulating over 1.3 billion yuan year-to-date. Another product, Hongshuangxi Yingbaoli Endowment Insurance (Participating), saw a surrender rate of 29.52%.

Despite these issues, NCI’s premium income grew 17% YoY to 181.973 billion yuan for January–October 2025. Its investment business outperformed, with Q1–Q3 revenue up 28.3% to 137.252 billion yuan and net profit surging 58.9% to 32.857 billion yuan. Investment income skyrocketed 687% to 40.413 billion yuan.

By end-September 2025, NCI’s investment assets reached 1.77 trillion yuan, with annualized total and comprehensive investment returns at 8.6% and 6.7%, respectively. Yet, solvency ratios declined, with core and comprehensive adequacy dropping to 154.27% and 234.15% by Q3 2025.

Regulatory issues persist, including a 30,000 yuan penalty for misconduct and a provincial branch head under investigation for alleged duty-related crimes.