The individual agent channel, which remains the primary driver of value creation, accounted for 85.9% of total VNB in 2025, contributing 39.3bn yuan, up 25.5% year on year.
Middle East conflict-driven energy disruption could test insurers’ resilience across the region, though insurers hold sufficient capital to absorb near-term stresses.
Ratings agency flags ongoing FX exposure and higher funding needs ahead of new capital standards, with asset-intensive reinsurance yet to gain traction.
