China’s Insurance Sector: Weekly Roundup
By Vincent Liu Liang | March 21, 2025
This week’s highlights provide a snapshot of significant events and trends shaping the insurance landscape in China.
Industry Overview
The eWeekly China Newsletter delivers key updates to subscribers.
Key Developments
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Financial Performance:
- Ping An released its 2024 financial report, addressing agent recovery and life insurance concerns.
- AIA Life reported substantial growth, with a 20% increase in new business value and a 10% rise in premiums in 2024.
- ZhongAn announced a net profit of CNY603 million for 2024, driven by AI innovation.
- Ping An Good Doctor achieved its first annual profit, attributed to AI-driven diagnostic efficiency.
- Several insurers, including PICC, New China, and Taiping, are showing strong interest in Deepseek.
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Technology:
- AI continues to play a significant role in driving business innovation and improving operational efficiency within the sector.
Related News
- Number of insurance intermediaries declines for six consecutive years
- Ping An 2024 financial report: Agent recovery and life insurance concerns
- Insurance companies fined over 200 times this year, totalling CNY69.36m
- AIA Life reports 20% new business value growth, 10% premium increase in 2024
- ZhongAn reports CNY603m net profit in 2024, with AI driving business innovation
- China Life reveals 2024 top 10 claims, with record payout over CNY40m
