Recently, 65 insurers had disclosed their average premium per vehicle. The data shows that per-vehicle premiums ranged from a high of CNY5,600 ($784) (Hyundai Insurance) to a low of CNY608.17 (Xin'an Auto Insurance). Among them, 42 insurers - more than 60% - reported average premiums below CNY2,000($280). Nearly 60% of companies saw year-on-year increases.
The first quarter of 2025, traditionally the strongest sales period for China's life insurance industry, has shown clear signs of pressure, with new business premiums declining notably across major distribution channels.
China's reduction in capital charges for equity investments by insurers is likely to drive them to increase their equity holdings, Fitch Ratings said. However, equity investments expose insurers' earnings to the swings in the stock market, which could put pressure on some insurers' capital positions.
Data show that PICC Health, Ping An Health, Pacific Health Insurance, Fosun United Health, and Ruihua Health collectively recorded operating income of CNY75.65bn ($10.59bn) in 2024, up 14.1% year-on-year, and net profit of CNY4.15bn, a 46.6% increase.
These are the highlights for all events and updates across the industry this week.
The number of new contracts within the Vietnamese life insurance industry saw a 4.3% y-o-y growth in the first quarter of the year, according to the Insurance Association of Vietnam's vice secretary general Ngo Trung Dung.
Abu Dhabi National Insurance Company (ADNIC), one of the leading regional multi-line insurance providers for both corporates and individuals, has delivered strong financial results for the first quarter of 2025.
Singapore's life insurance industry recorded nearly S$1.48bn ($1.14bn) in weighted new business premiums for the first quarter of 2025, representing a 10.9% per cent y-o-y increase, fuelled by continued uptake of Investment-Linked Policies (ILPs).
The Taiwan dollar's sharp rally against the US dollar in the first week of May has heightened foreign exchange risk exposure for Taiwanese life insurers who have been allocating a large portion of their invested assets in foreign investments, mainly USD-denominated fixed income securities.
The impact of intense price competition in medical and certain motor segments are now coming through in the Saudi insurance market, says Badri Management Consultancy, an international company specialising in actuarial and management consulting services.