On the afternoon of December 21, Ye Peng, Deputy General Manager of Taibao Life Insurance, discussed the opportunities and challenges of high-quality development in the life insurance industry at the 2024 Shanghai Stock Exchange • Dahongqiao Financial High-Quality Development Conference and Dahongqiao Wealth Management Conference. Ye Peng believes that the insurance industry is increasingly being focused on, with a surge in residents' needs for Retirement, health, and wealth management. The new "Ten National Policies" have also brought new opportunities for the long-term development of the insurance industry. "The guarantee is the 'most expensive' commitment." Ye Peng admitted that besides bank deposits, only insurance Institutions can now provide guaranteed returns. In a low-interest-rate environment, the challenge for insurance companies is that the scheduled interest rate is lowered more slowly than the decline in liability costs. Currently, insurance companies need to strengthen asset-liability matching. In the past, the insurance industry relied heavily on the contributions from interest spreads, which were the main source of profit for the industry. In the new environment, insurance companies must manage mortality risk, expense risk, and interest risk more evenly to achieve better growth.