Eighty-seven non-life insurers posted a combined business revenue of CNY1,401.29bn ($209.9bn) for the first three quarters, according to data compiled from their financial reports submitted to date.
Eighty-seven non-life insurers that had lodged their third-quarter financial reports as of 3 November chalked up a combined net profit of CNY58.25bn ($8.71bn).
China's life insurance industry faced significant pressure on both the liability and asset sides in the third quarter of this year. Not only did insurance revenue decline by more than 5% year-on-year, but profits also fell sharply by more than 36% year on year with some companies even falling into red ink.
China's five A-share listed insurance giants recorded net profits of CNY276.58bn ($41.47bn) in the first three quarters of this year, representing a year-on-year decrease of 35.08%.
Seventy-two life insurance companies have reported a combined insurance revenue of CNY3.18tn ($475.4bn), representing a year-on-year increase of 2.34%, according to financial reports filed by these insurers.
China's domestic commercial health insurance market continued to expand at a relatively slow pace, with the sector recording cumulative premium income of CNY866.5bn ($130bn) for the first three quarters of this year, representing a modest year-on-year increase of 2.82%.
Swiss Re reported a 3% increase in net income to $4.2bn for the first nine months of 2026, compared with $4.0bn in the same period last year, supported by strong contributions across its business units. Return on equity remained unchanged at 22.5%. The reinsurer attributed its performance to strong underwriting results from Property & Casualty Reinsurance (P&C Re) and Corporate Solutions, as well as healthy in-force margins and favourable US mortality experience in Life & Health Reinsurance (L&H Re). Lower-than-expected large natural catastrophe losses also supported the results. Swiss Re maintained its full-year 2026 net income target of $4.5bn.
MetLife reported a 187% increase in net income to $2.4bn, or $3.67 per share, for the third quarter of 2026. Adjusted earnings rose 12% to $1.8bn, driven by higher variable investment income, broad-based volume growth and favourable underwriting. Adjusted earnings per share increased 22% to $2.85, excluding notable items, marking the highest quarterly figure in the company's history. Adjusted return on equity stood at 19.6%, excluding notable items.
Manulife Financial Corporation reported a 17% year-on-year increase in core earnings from its Asia segment to $635m in the third quarter of 2026, supported by the strength of its diversified regional business. Annualised premium equivalent sales declined 1% to $1,455m, while new business contractual service margin remained unchanged at $518m. New business value also held steady at $491m compared with the same period last year.
The insurance market achieved a total turnover of MAD39bn ($4.00bn) in the first half of 2026 (1H2026), excluding acceptances and takaful contributions.