[Shenzhen Business Daily](Reporter Qiu Qingyue) The first-quarter premium data of five A-share listed insurance companies have been released. Overall, China Life, China Ping An, PICC, China Pacific Insurance and New China Insurance achieved a cumulative premium income of 1.01 trillion yuan, a year-on-year increase of 3.52%, an increase from 2.64% in the same period last year. Data shows that in the first quarter, insurance companies’ new life insurance policy premiums were under pressure, and auto insurance premiums recovered as the epidemic improved.
China Life Insurance’s premium income was 315 billion yuan, down 2.75% year-on-year, continuing the decline in the previous two months; China Ping An’s premium income was 246.478 billion yuan, up 1.11% year-on-year; PICC’s premium income was 232.375 billion yuan, up 14.24% year-on-year, and premiums increased China Pacific Insurance had the highest growth rate and maintained a double-digit growth rate for three consecutive months; China Pacific Insurance’s premium income was 148.732 billion yuan, a year-on-year increase of 7.23%; New China Insurance’s premium income was 64.89 billion yuan, a year-on-year increase of 2.36%.
The recovery of auto insurance in the first quarter is an important factor driving the overall recovery of the industry. However, in terms of single-month premiums, the single-month premium income of listed property insurance companies in March increased by 10% year-on-year, but fell by more than 5 percentage points from February. This is due to factors such as the epidemic, the shortage of chips, and the high base last year. Since March, the domestic auto industry has shown a lack of supply and sales, which in turn has dragged down the growth rate of auto insurance premiums, which has fallen significantly compared to February. Return to Sohu, see more
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