The premium income of the top five listed insurance companies in the first four months was 1.25 trillion yuan, and the life insurance business rebounded month by month
2024-05-20
Recently, multiple A-share listed insurance companies have disclosed their premium income for the first four months of this year. Data shows that from January to April this year, China Life Insurance, PICC, Ping An Insurance, Taiping Insurance, and Xinhua Insurance achieved a total original insurance premium income of 1.25 trillion yuan, a year-on-year increase of 1.47%, and the growth trend has further stabilized. Among them, four companies including China Life Insurance, PICC, Ping An Insurance, and Taiping Insurance achieved positive growth, while only Xinhua Insurance's original insurance premium income decreased year-on-year. From the perspective of life insurance business, since the beginning of this year, the life insurance business of listed insurance companies has been recovering month by month. Specifically, in the first four months of this year, China Life Insurance and Ping An Life Insurance maintained growth in their original insurance premium income. Among them, China Life Insurance achieved original insurance premium income of 371.2 billion yuan in the first four months of this year, a year-on-year increase of 3.9%, with the fastest growth rate. Ping An Life Insurance achieved original insurance premium income of 212.155 billion yuan, a year-on-year increase of 1.9%, and the growth rate has also expanded compared to the 0.9% in the previous three months. The growth rate of life insurance premiums for the other three companies has not yet turned positive, but the decline has further narrowed. In the first four months of this year, Taiping Life Insurance achieved a revenue of 104.524 billion yuan from its original insurance business, a year-on-year decrease of 3.5%. Compared to the 5.4% year-on-year decrease in the first three months of this year, the decline has significantly narrowed. As of April, Taiping Life Insurance achieved a premium income of 12.838 billion yuan from original insurance, a year-on-year increase of 12.29%, continuing the trend of monthly premium growth. Among all listed insurance companies, Xinhua Insurance's premium decline was the most significant, with a premium income of 67.224 billion yuan in the first four months of this year, a year-on-year decrease of 11.69%. Xinhua Insurance stated that the company has achieved a good development trend in core business of personal insurance channels, outstanding human resources, and per capita production capacity. In addition, Tianmao Group disclosed that in the first four months of this year, its controlling subsidiary Guohua Life Insurance had accumulated a total original insurance premium income of 17.845 billion yuan. This number has decreased by 18.35% compared to the same period last year, but further narrowed compared to the 20.55% year-on-year decrease in the first three months of this year. The monthly premium recovery of listed life insurance companies is related to the continuous increase in business promotion by insurance companies, as well as the continued strong demand for savings insurance products in the market against the backdrop of declining interest rates. Some analysts also believe that the improvement of new premiums since 2023 has driven the growth of renewal premiums in 2024. From the performance of property insurance, listed insurance companies continue to maintain a steady growth trend in property insurance premiums. In the first four months of this year, PICC Property&Casualty Insurance accumulated a total original insurance business revenue of 210.495 billion yuan, a year-on-year increase of 2.8%; Taiping Property&Casualty Insurance has accumulated a total original insurance business revenue of 771.43 billion yuan, a year-on-year increase of 7.8%, with the fastest growth rate; Ping An Property and Casualty Insurance has accumulated a total original premium income of 103.529 billion yuan, a year-on-year increase of 3.1%, expanding compared to the previous March. Specifically for each type of insurance, according to the data released by PICC Property&Casualty Insurance, the premium for car insurance increased by 2.3% year-on-year, which is lower than the growth rate of non car insurance business. In the non auto insurance business, enterprise property insurance, accident and health insurance, and freight insurance increased by 6.7%, 4.9%, and 4.9% year-on-year, respectively. In addition to the aforementioned insurance companies, Zhongan Online achieved a premium income of 9.699 billion yuan in the first four months, similar to
Edit：Lubaikang Responsible editor：Chenze
Source：stcn.com
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