During the year, the premium of China Life Insurance kept increasing, and the property insurance business maintained a high prosperity.

Up to now, the premium income data of the top five A-share listed insurance companies in the first seven months (referring to the original insurance premium income, the same below) have all been released, all of which have achieved positive growth.

Analysts believe that from the perspective of life insurance business, it is the increase of whole life insurance that provokes growth at present, while the market for long-term protection products such as critical illness insurance has not recovered. In terms of property insurance business, the premium income of auto insurance increased rapidly, while that of payout ratio was lower. The premium income of non-auto insurance business is growing rapidly, and the industry is expected to maintain a high prosperity.

China Life's premium increased continuously during the year.

According to the information disclosed by various insurance companies, in the first seven months, the top five A-share listed insurance companies realized a total premium income of 1.75 trillion yuan, a year-on-year increase of 4.29%.

Among them, China Life realized premium income of 469.6 billion yuan in the first seven months, up 0.2% year-on-year. This is also the first time that China's accumulated monthly premiums have achieved positive growth year-on-year. Therefore, the premium income of the top five A-share listed insurance companies finally broke the embarrassing pattern of "four rises and one drop" in previous months, and all achieved positive growth.

Judging from the other four listed insurance companies, in the first seven months of this year, China PICC realized premium income of 41600 million yuan, a year-on-year increase of10.8%; China Pacific Insurance received premium income of 264.6 billion yuan, an increase of 8% year-on-year; Xinhua premium income11220 million yuan, up 2.1%year-on-year; China Ping An realized premium income of 486.2 billion yuan, up by 1.8% year-on-year.

Judging from the monthly premium situation, the premium growth rate of listed insurance companies further improved in July, and the monthly premium of listed life insurance companies increased by 4.5% year-on-year, which was further higher than that in June. Among them, China Life Insurance's monthly premium income in July increased by 13.7% year-on-year, leading the five major insurance companies, and the growth rate was 6 percentage points higher than that in June. In this regard, Ge Yuxiang, an insurance industry analyst in soochow securities, told the Securities Daily that the monthly premium income growth rate of China Life Insurance has improved month by month, thanks to relevant measures such as expanding new recruitment, strengthening team quality management, amending the basic law to encourage outstanding performance, optimizing structural design to enhance production capacity, and launching differentiated products to meet customers' savings needs. After the new leadership of the company is finalized, it is expected to bring new positive changes.

Haitong Securities recently released a research report that the premiums of listed life insurance companies continued to improve in July for two main reasons. First, the base of insurance companies in the same period last year was low; Second, the premium income of long-term savings business represented by whole life insurance products has increased rapidly. The research report predicts that with the improvement of the domestic epidemic prevention and control situation, the scale of overlapping agents will stabilize and rebound, and the growth rate of new single premiums of insurance companies will continue to improve.

Although the scale of life insurance premiums of listed insurance companies has gradually picked up, most analysts believe that the new business value (NBV) of life insurance is still under pressure. Among them, soochow securities Research Report believes that the value growth of listed insurance companies may still be under pressure due to the continuous downturn in long-term security business. Guotai Junan research report believes that the financial needs of customers are still the main source of the growth of new life insurance orders. However, the growth of new life insurance orders brought by the increase of whole life insurance is difficult to make up for the downward pressure on the value of critical illness insurance, so its impact on boosting NBV is limited.

Property insurance business maintained a high degree of prosperity.

Judging from the situation of listed property insurance companies, in the first seven months, PICC P&C insurance under China PICC realized premium income of 307.8 billion yuan, up10% year-on-year; Ping An Property & Casualty Insurance in China earned a premium income of 65.438+0708 billion yuan, a year-on-year increase of 654.38+065.438+0%; Taibao Property Insurance, a subsidiary of China Taibao, realized a premium income of 654.38+005 billion yuan, a year-on-year increase of 654.38+02%. After a brief fluctuation of the epidemic around April, the year-on-year growth rate of premiums of many companies returned to double-digit level.

Ge Yuxiang believes that the recovery of premium growth of property insurance companies is mainly due to the improvement of the national epidemic prevention and control situation, and various policies to stimulate automobile consumption have gradually landed. According to the latest data released by China Association of Automobile Manufacturers, the automobile sales in China increased by 29.7% in July. Therefore, it is expected that the comprehensive cost ratio of property insurance will be significantly improved in the third quarter of this year. In terms of auto insurance business, the current vehicle trip rate is still at a low level. According to the operation data of urban rail transit released by the Ministry of Transport in July, the passenger volume of urban rail transit was 65.438+0.95 billion, a year-on-year decrease of 220 million, with a decrease of 654.38+0. 1%. In terms of non-auto insurance business, the compensation base was higher in the second half of last year. It is expected that the underwriting profit rate of commercial non-auto insurance business will be significantly better than last year, and the growth rate of all-insurance underwriting profit is expected to increase quarter by quarter.

If you want to know more real-time financial news, please follow us.