Industry Highlights This Week: China
By Vincent Liu Liang
28 Mar 2025
This week’s highlights focus on key developments in China’s insurance industry, covering financial performance, regulatory updates, and technological advancements.
Financial Performance
Reports indicate several trends impacting the financial landscape:
- Primary insurance claims saw an increase of over 20%.
- The motor insurance branch continues to lose market share in the first quarter of 2024.
- Ping An released its 2024 financial report, discussing agent recovery strategies and life insurance concerns.
- AIA Life reported a 20% new business value growth alongside a 10% premium increase in 2024.
Regulatory Updates
Regulatory bodies are implementing and adjusting policies. Areas of focus include:
- Tightened oversight of commercial banks’ third-party sales businesses.
- China Life is leading insurers in gold investments.
Technology and Innovation
Technology continues to shape the insurance sector:
- An insurance platform for new electric vehicles helped insure 114,000 units in just one month.
- DeepSeek’s role in the sector, balancing efficiency gains and risk challenges.
This summary provides an overview of the most recent developments in China’s insurance market.
