瑞再保险：中国寿险、健康险保费将恢复增长态势

Core Viewpoint - Swiss Re expresses optimism about the future of China's life and health insurance market despite current challenges such as declining interest rates and weak demand [1][3] Group 1: Current Challenges - The life and health insurance industry in China faces two main challenges: declining consumer confidence leading to reduced purchases, and lower interest rates impacting insurance companies' profitability [2][4] - Global life insurance premium growth is expected to slow down to approximately 1% in 2025, with China's life insurance market growth also slowing to 2.8% [2][3] Group 2: Future Growth Projections - Swiss Re predicts that over the next decade, the growth of life and health insurance premiums in China will exceed GDP growth, with China's share in the global life and health insurance market expected to rise to 17% [1][3] - The expansion of the middle-income group, increasing risk awareness, and the growing role of insurance in social security systems are key factors driving this growth [3][4] Group 3: Opportunities in the Market - Three major opportunities are identified for the life and health insurance market in China: 1. Demographic changes, with the proportion of the population aged 60 and above expected to rise from 22% in 2024 to 30% by 2035, increasing demand for retirement financial products [4][5] 2. Targeted policy reforms that clarify the roles of basic medical insurance and commercial insurance, facilitating the introduction of innovative products [4][6] 3. Further opening of the medical industry to foreign investment, encouraging the establishment of foreign-owned hospitals and enhancing innovation in health insurance products [4][6] Group 4: Product Development - The insurance industry needs to develop "convertible products" that evolve from initial death coverage to later-stage income protection and nursing care, aligning with customers' changing needs throughout different life stages [6]