The State Grid-owned insurer's solvency ratio was 275% at the end of H1 2026, unchanged from the end of 2025, while disciplined risk selection kept its combined ratio at 93% in 2025.
Higher capital charges on the insurer's investments outpaced growth in its available capital, while cautious risk selection kept its agricultural book profitable.
AM Best expects underwriting profits from the platform-sold products to improve step by step as they scale, while profitable Samsung-linked commercial business keeps results steady.
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...
