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Life insurance premiums of A-share listed insurance companies rebounded in the first seven months, and the growth rate of premiums is expected to stabilize in the second half of the year

2024-08-19

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[As of last week, the five major A-share listed insurance companies have all released their July premium data. According to statistics, they achieved a total premium income of 1.95 trillion yuan in the first seven months, a year-on-year increase of 3.49%, of which life insurance business increased by 2.8% year-on-year, showing a differentiated situation of "three increases and two decreases". However, if we narrow it down to July alone, only China Pacific Insurance showed a year-on-year decline, while the others all increased, and many showed double-digit growth. ]

In June and July last year, the life insurance market experienced a sales boom brought about by the switch of the scheduled interest rate. With such a base, the premium performance of major listed insurance companies in July this year has also attracted market attention.

As of last week, the five major A-share listed insurance companies have all released their July premium data. According to statistics, they achieved a total of 1.95 trillion yuan in premium income in the first seven months, a year-on-year increase of 3.49%, of which life insurance business increased by 2.8% year-on-year, showing a differentiated situation of "three increases and two decreases". However, if we narrow it down to July alone, only China Pacific Insurance showed a year-on-year decline, while the others all increased, and many saw double-digit growth.

According to industry insiders, this is mainly due to the different bases caused by the different strategies of various insurance companies in July last year. Although personal insurance premiums are still showing a differentiated trend, the overall recovery trend remains unchanged, and the overall performance of the liability side for the whole year is optimistic.

Life insurance is generally warming up, but individual differentiation

Although the scheduled interest rate switch in the middle of last year pushed up the overall base of life insurance, it does not seem to make this year's life insurance premium growth appear too bleak.