Strong distribution and regulatory expense controls lifted NBV in the first half of 2026, though the agency noted high equity exposure and a large single‑name stake heighten vulnerability to market vo...
Both agencies said the benefit will hinge on how the five state-owned (re)insurance groups deploy the money, with heavier equity investment raising asset risk.
China's insurers are processing thousands of claims following Typhoon Bavi's landfalls in Zhejiang, with Ping An, PICC and China Pacific reporting early losses and payouts.
China Life’s operating profit jumped 55% to 186.12bn yuan (US$27.31bn) in 2025, while New China Life and Ping An posted gains of 29% and 11%, respectively.
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 for nine insurers—including China Life and PICC P&C—affirmed, but negative outlook reflects pressures from market volatility and potential weakening of state support.
2024 financial results show life insurers growing in Asia thanks to rising demand for health and retirement products, even as tighter regulations and increasing competition change the playing field.
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