The 2026 first-quarter solvency reports of China's life insurers indicate that the sector has largely successfully navigated the full implementation of solvency requirements under the China Risk-Oriented Solvency System (C-ROSS) Phase II.
The P&C insurance market as a whole chalked up increased revenue but lower profits in the first quarter of this year, according to an analysis of their 1Q2026 solvency reports.
The 60 unlisted life insurance companies in China that have released their first-quarter solvency reports as of 7 May, reported a combined net profit of CNY18.37bn ($2.71bn), representing a year-on-year increase of 7.7% and total insurance revenue of CNY628.80bn, a year-on-year increase of 13.7%.
Mainland Chinese life insurance companies have, for the first time, disclosed their quarter-end individual agent counts in their quarterly solvency reports, marking a new regulatory milestone beginning in the first quarter of 2026.
PICC Property & Casualty Insurance Co (PICC P&C) activated its emergency response mechanism for major disaster events 244 times in 2025, and paid out over CNY13.1bn in claims for damage caused by the major disasters, according to the group's 2025 Sustainability Report.
Guoren Property and Casualty Insurance Co (Guoren P&C) is expected to improve its combined ratio in 2026 from 101.4% in 2025, according to Fitch Ratings.
The National Healthcare Security Administration (NHSA) has unveiled a five-year action plan to strengthen oversight of the national medical insurance system.
Russia's Central Bank has instructed Russian insurers to reinsure risks related to liquefied natural gas (LNG) supplies to China with Chinese insurers, reported the Odessa Journal.
The first-quarter solvency reports of 76 non-listed P&C insurance companies reveal both bright spots and emerging concerns in the sector.
More than 40% of consumers use AI tools to compare insurance products to help them to decide insurance purchases, according to a new study. AI also helps users bridge information gaps.