Moody's stable outlook for China's P&C insurance sector reflects an industry where underwriting discipline is gaining ground, amid growing asset risk and accelerating market concentration.
Robotaxis are giving commercial shape to APAC’s broader AV market, but insurers remain constrained by limited data, fragmented regulation, and unresolved liability questions.
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.
Group life insurance and reinsurance segments posted strong growth, offsetting flat insurance revenue and losses in Hong Kong property and casualty operations.
China's property insurance market is poised for a five-year expansion, with Hong Kong's Wang Fuk Court fire sharpening focus on the home insurance protection gap that insurers are racing to close.
