The Chinese life insurance sector is expected to chalk up mid-single digits top-line growth in 2025, after growing by 15.7% year on year in 3Q2024 due to strong sales before insurers' pricing-interest rate cuts, says Fitch Ratings.
Losses from weather-related catastrophes may destabilise the earnings of mainland Chinese non-life insurers, especially in 2H2025, according to Fitch Ratings.
The premium income of life insurance companies in China declined in the single month of October, which was the first monthly negative growth in 2024 to date, according to data from the National Financial Regulatory Administration (NFRA).
The synergy and integration between Allianz Jingdong General Insurance Company and its parent company, Allianz SE, is expected to grow in the longer term, says Fitch Ratings.
French insurance giant AXA and the People's Insurance Company (Group) of China, the country's biggest non-life insurer, have signed a Memorandum of Understanding to boost global cooperation.
The National Financial Regulatory Administration (NFRA) has approved a licence for a new insurer to be registered in the city of Suzhou in the eastern province of Jiangsu. The proposed name of the insurer is Suzhou Dongwu Property Insurance Co.
Insurance companies in China are entering the intelligent vehicle market as the proportion of new cars equipped with high-level intelligent systems increases.
Medical costs are projected to rise in mainland China by a marginally faster rate of 10.8% in gross terms in 2025, compared to 10.5% in 2024, according to the WTW Global Medical Trends Survey.
The National Financial Regulatory Administration (NFRA) has issued the "Interim Measures for Insurance Asset Risk Classification" to update rules for the risk classification of fixed-income, equity, and real estate assets of the insurance sector.
The National Financial Regulatory Administration (NFRA) has approved the transfer of 100% of shares in a Hong Kong subsidiary held by Shanghai-headquartered China Pacific Insurance (Group) Co (CPIC Group) to another subsidiary, China Pacific Property Insurance Co (CPIC P&C).