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.
Ratings agency flags ongoing FX exposure and higher funding needs ahead of new capital standards, with asset-intensive reinsurance yet to gain traction.
Group life insurance and reinsurance segments posted strong growth, offsetting flat insurance revenue and losses in Hong Kong property and casualty operations.
Subsidiary of property conglomerate had its ratings affirmed, with AM Best noting a shift in its investment portfolio towards cash and high-grade fixed income assets.
Taiwan's accounting reforms have triggered a sharp retreat from currency forwards, with six major life insurers halving their combined positions in just two months.
Group’s record 2025 results set the stage for a pivotal year ahead, as the pan-Asian life insurer bets on AI, expansion across China’s provinces, and deepening wealth partnerships.
Premium income and new annuity sales strengthen even as rising policy surrenders, bond yield pressures, and higher operating expenses weigh on the sector.
