The underwriting results of Zhongyuan Agricultural Insurance Co (ZYIC) are expected to remain satisfactory, supported by the strong margins of its agricultural insurance business and ongoing loss-mitigation and cost-control measures, said Fitch Ratings in a commentary.
Prime Minister Li Qiang, in delivering the government work report at the opening yesterday of the annual National People's Congress meeting, highlighted several targets for the insurance industry.
Four Chinese government ministries or agencies have set out 20 measures to accelerate the high-quality development of sci-tech insurance that plays an important role in risk dispersion and financial support for technological innovation.
Premier Li Qiang has proposed formulating measures to promote the development of agricultural insurance, on top of the progress made to date in this branch of insurance.
The average motor insurance premium in China in 2025 among 60 insurance companies was CNY2,215.77 ($321.24), while the median premium was CNY1,716.04, indicating the divergence among vehicle insurers.
Alongside the growth of new energy vehicles (NEVs) in China is a move by the automobile industry towards intelligent vehicles.
A delegate of China's top advisory body, the Chinese People's Political Consultative Conference (CPPCC), currently holding its annual meeting in Beijing, has recommended that insurance companies increase their value to the community by providing care services to the elderly who live alone.
High insurance premiums have become a burden for ride-hailing drivers, with some drivers' insurance expenses accounting for more than a quarter of their net income, or even higher, according to research by Tianneng Group, which is focussed on the manufacturing and services of batteries for light electric vehicles.
China United Insurance Group has appointed Mr Liu Yuanzhag as Chairman. The decision was made with the approval of the Board of Directors and National Financial Regulatory Administration. At the same time, the company relieved Mr Liu of his position as interim head of the company.
Global trade credit risk management group Coface has forecast global growth of 2.6% this year, a slight easing from 2.8% in 2025. The forecast was made before 28 February when the US-Israel vs Iran military conflict began.