China's P&C insurance achieves underwriting profit, shifts focus to tech and energy coverage
On September 23, 2026, the China Property & Casualty Reinsurance Market Symposium reviewed the 14th Five-Year Plan period (2021-2025), reporting that the industry reversed underwriting losses and achieved overall profitability, driven by improved auto insurance results. Premium growth slowed to a 5.3% CAGR, while non-auto insurance premiums rose to 46.4% of total in 2025. Looking ahead to the 15th Five-Year Plan (2026-2030), China Re forecasts rapid growth in technology, energy, and agricultural insurance, with annual premiums expected to exceed 2 trillion yuan. Risks from extreme El Niño events, geopolitical tensions, and AI systemic risks were highlighted.
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China's P&C insurance shifts from scale to efficiency; '15th Five-Year' outlook highlights tech, energy coverage
A September 23, 2026, China Property & Casualty Reinsurance Market Symposium reviewed the industry's performance during the '14th Five-Year Plan' period (2021-2025) and outlined trends for the '15th Five-Year Plan' (2026-2030). The symposium, themed 'Direct-Reinsurance Integration for Innovation, Win-Win Transformation in the 15th Five-Year', was reported by NetEase Finance. Data showed China's P&C insurance premium compound annual growth rate slowed to 5.3% during the 14th Five-Year period, but the industry reversed underwriting losses from the previous period, driven by improved auto insurance profitability. The 'scale-over-efficiency' model was largely corrected. Non-auto insurance premiums rose to 46.4% of total premiums in 2025, up from 39.3% in 2020. China Reinsurance (Group) Corporation (China Re) forecast that during the 15th Five-Year period, technology insurance, energy and power insurance, policy-based catastrophe insurance, shipping insurance, health insurance, and agricultural insurance will see rapid growth. By the end of the period, annual P&C premiums are expected to exceed 2 trillion yuan, with non-auto insurance accounting for over half. The industry faces risks from super El Niño events, geopolitical tensions, and AI systemic risks. China Re executives called for a shift from 'capital guarantee' to 'technology service' models and from 'risk undertaker' to 'value creator' embedded in national governance.
Read sourceChina's P&C Insurance Industry Shifts from Scale to Profitability Ahead of 15th Five-Year Plan
A September 23, 2026, conference on China's property and casualty (P&C) reinsurance market, themed 'Direct-Reinsurance Integration for Innovation, Win-Win 15th Five-Year Plan Transition,' reviewed the 14th Five-Year Plan period and outlined trends for the 15th Five-Year Plan (2026-2030). China Re P&C reported that the industry's 'scale over profitability' approach has been largely reversed, with overall underwriting profitability achieved during the 14th Five-Year Plan, driven by improved auto insurance results. Non-auto insurance premiums rose to 46.4% of total premiums in 2025, up from 39.3% in 2020. The industry faces risks from super El Niño events, geopolitical tensions, and AI systemic risks. Looking ahead, China Re P&C forecasts strong growth in technology insurance, energy/power insurance, policy-based catastrophe insurance, shipping insurance, health insurance, and agricultural insurance. By the end of the 15th Five-Year Plan, annual P&C premiums are expected to exceed 2 trillion yuan, with non-auto insurance accounting for over half. The industry's role is shifting from 'capital guarantee' to 'technical service' and from 'risk undertaker' to 'value creator' embedded in national governance.
Read sourceChina Property Insurance Shifts from Scale to Profit; '15th Five-Year' Sees New Trends
A September 23, 2026, industry conference on China's property and casualty (P&C) reinsurance market concluded that the sector's 'extensive development' prioritizing scale over profit has been fundamentally reversed. Data shows P&C premium growth slowed to a 5.3% CAGR during the '14th Five-Year' period (2021-2025), but overall underwriting turned profitable, driven by improved auto insurance results. Non-auto insurance premiums rose to 46.4% of total in 2025, up from 39.3% in 2020. Looking ahead to the '15th Five-Year' period (2026-2030), China Re P&C forecasts strong growth in technology insurance, energy and power insurance, and agricultural insurance. The conference highlighted risks from extreme El Niño events, geopolitical tensions, and AI systemic risks. Reinsurers are expected to tighten risk controls. The industry is urged to transform from a 'capital guarantee' to a 'technology service' model and from a 'risk undertaker' to a 'value creator' embedded in national governance. Premiums are forecast to exceed 2 trillion yuan by 2030, with non-auto insurance accounting for over half.
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China's Property Insurance Industry Shifts from Scale to Profitability Ahead of 15th Five-Year Plan
At the 2026 China Property Reinsurance Market Seminar, industry leaders and analysts reviewed the 14th Five-Year Plan period (2021-2025) and outlined trends for the 15th Five-Year Plan (2026-2030). China Reinsurance (Group) Corporation and China Re Property & Casualty Reinsurance Co. (Zhongzai Property Insurance) reported that the property insurance sector has largely reversed its previous 'scale over profitability' approach, achieving underwriting profits overall during the 14th Five-Year period, driven by improved auto insurance performance. Non-auto insurance premiums rose to 46.4% of total premiums in 2025, up from 39.3% in 2020. Looking ahead, the industry expects strong growth in technology insurance, energy and power insurance, agricultural insurance, and health insurance. Zhongzai Property Insurance forecasts that by the end of the 15th Five-Year Plan, annual property insurance premiums will exceed 2 trillion yuan, with non-auto insurance accounting for over half. The industry also faces risks from extreme El Niño events, geopolitical tensions, and AI-related systemic risks. Speakers emphasized a shift from 'capital guarantee' to 'technology service' models and from 'risk undertaker' to 'value creator' roles integrated into national governance.
China Property Reinsurance Market Forum: Domestic Market Grows, Global Rates Remain Adequate
The 2026 China Property Reinsurance Market Seminar was held on September 23, themed 'Direct-Reinsurance Integration Promotes Innovation, Win-Win for the 15th Five-Year Plan Transformation.' China Re P&C forecasted that under the 15th Five-Year Plan, domestic property insurance segments such as tech insurance, energy insurance, policy-based catastrophe insurance, shipping insurance, health insurance, and agricultural insurance will see rapid growth. For the international reinsurance market in 2026, global reinsurance market scale continues to grow, with rate declines varying by line but overall remaining adequate. Wang Simiao, Chief Officer of the Insurance Association of China, stated that the industry has maintained steady development and high-quality progress under national policies and regulatory guidance, especially since the new 'National Ten Articles.' Zhu Xiaoyun, President of China Re, emphasized the next decade as a strategic opportunity for transformation, calling for closer direct-reinsurance relationships focused on risk-sharing, technology co-research, and value co-creation. Wang Zhongyao, General Manager of China Re P&C, urged the industry to shift from a 'capital guarantee' to a 'technology service' model and from a 'risk undertaker' to a 'value creator' embedded in national governance and economic livelihood.
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