Chan Ye Xin Xi Wang·2025-05-05 02:40Core Viewpoint - The rapid development of the green industry has created significant funding demands, with green finance emerging as a crucial tool to support this growth, particularly through green insurance, which plays a vital role in risk management and investment for green projects [1][17]. Group 1: Overview of Green Insurance Industry - Green insurance, also known as ecological insurance, is a fundamental means of environmental risk management under market conditions, with environmental pollution liability insurance being the most representative type [3]. - The green insurance product system includes various categories such as pollution risk protection, resource risk protection, and green financial risk protection [4]. Group 2: Development History of Green Insurance - China's green insurance began in 2007 with pilot environmental liability insurance, and significant policy developments have occurred since then, including the 2016 guidance on building a green financial system [5]. - The latest guidance from the National Financial Regulatory Administration in 2024 aims to establish a comprehensive support system for green insurance by 2027 [7]. Group 3: Current Status of Green Insurance Industry - The green insurance market in China is still in its early stages, with a relatively small market size but steady growth in industry scale and product innovation [1][17]. - In 2023, the total premium income from green insurance reached 229.7 billion yuan, accounting for 4.5% of the total industry premium, with cumulative insurance coverage amounting to 709 trillion yuan [13][15]. Group 4: Key Enterprises in Green Insurance - Major companies in the green insurance sector include China Pacific Insurance, China Property & Casualty Insurance, and China Life Insurance, each contributing significantly to the green insurance market with substantial coverage amounts [19][20]. - For instance, by 2024, China Pacific Insurance's green insurance coverage is expected to exceed 147 trillion yuan, while China Property & Casualty Insurance is projected to provide 161.9 trillion yuan in risk protection [20][24]. Group 5: Future Trends in Green Insurance - The industry is expected to see a diversification of products and services, with a focus on integrating environmental risk considerations into traditional insurance offerings [26][27]. - Regulatory bodies and insurance companies are encouraged to enhance the green investment mechanisms to support sustainable projects effectively [28].