Lima perusahaan asuransi terdaftar di A-share mencatatkan laba bersih sebesar 425,29 miliar yuan tahun lalu, meningkat 22,4% dibandingkan tahun sebelumnya

Reporter: Leng Cuihua

As of March 27, the five largest listed insurance companies in the A-share market have all released their 2025 annual performance results.

Overall, although the insurance industry faced more complex and ever-changing internal and external conditions last year, bringing some challenges to insurers’ operations, the listed insurers achieved sound operating performance by maintaining strategic resolve and comprehensively deepening reforms. In 2025, all five listed insurers saw eye-catching growth in their performance; their net profit attributable to shareholders of the parent company all showed an upward trend year over year. In total, they achieved net profit attributable to shareholders of the parent company of 14.7k yuan, up 22.4% year over year.

From different business segments, the structural transformation in life insurance business has yielded significant results, while the property insurance combined cost ratio has improved markedly year over year. In terms of investment, thanks to scientific allocation strategies and the favorable performance of capital markets, all insurers last year obtained comparatively good investment returns.

Specifically, China Life Insurance Company Limited (hereinafter “China Life”) achieved net profit attributable to shareholders of the parent company of 79.44B yuan in 2025. On the basis of a high prior-year base, it grew strongly by 44.1%. Embedded value was 1.47 trillion yuan, firmly ranking first in the industry. On the underwriting side, China Life has actively promoted the development of floating-income-type products. Its dividend insurance business achieved rapid growth, with the share of first-year premium paid for individual-agent channel policies rising to nearly 60%, becoming an important support for new policy premiums. At the same time, on the investment side, China Life achieved its best investment performance in recent years last year, with total investment returns of 36.28B yuan, up 794.43 billion yuan from the previous year, representing growth of 25.8%, and total investment return rate of 6.09%.

China Reinsurance Insurance Company Limited achieved net profit attributable to shareholders of the parent company of 362.84 billion yuan in 2025, up 38.3%. On the basis of the high prior-year base in 2024, the company’s gross premium income from original insurance business in 2025 was nearly 104.3B yuan, up 14.9%. Full-year total investment returns were about 1043 billion yuan, up 30.9% year over year; the total investment return rate was 6.6%.

China Pacific Insurance (Group) Co., Ltd. achieved net profit attributable to shareholders (归母净利润) of 535.05 billion yuan in 2025, up 19.0% year over year. By the end of 2025, China Pacific’s embedded value was 53.51B yuan, up 9.1% from the end of the previous year; net assets attributable to shareholders were 302.14B yuan, up 3.7% from the end of the previous year; and the scale of managed assets was 3.89 trillion yuan, up 9.8% from the end of the previous year. Overall comprehensive strength continued to improve steadily.

The People’s Insurance Group Co., Ltd. (hereinafter “People’s Insurance”) shows in its 2025 annual report that last year the company achieved net profit attributable to shareholders of the parent company of 466.46 billion yuan, up 8.8% year over year. The combined cost ratio for its property insurance business was 97.6%, the best level in recent years. The new business value for its life insurance business was 156 billion yuan; total investment returns were 38.9k yuan, both reaching record highs. People’s Insurance total assets exceeded 2 trillion yuan, and net assets exceeded 400 billion yuan.

Ping An Insurance (Group) Company of China, Ltd. achieved net profit attributable to shareholders of the parent company of 46.65B yuan in 2025, up 6.5% year over year; operating profit attributable to shareholders of the parent company was 15.6B yuan, up 10.3% year over year. Equity attributable to shareholders of the parent company first exceeded one trillion yuan, reaching 92.3B yuan, up 7.7% from the beginning of the year.

(Edited by: Qian Xiaorui)

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