决胜“十四五” 打好收官战 | 做好“减震器”“稳定器”！“十四五”期间保险业保障能力持续提高

Core Insights - The insurance industry in China is projected to see a significant increase in original insurance premium income, with a growth of over 25% by 2024 compared to 2020, and total assets expected to rise by 68% by mid-2025 compared to the end of 2020 [1] - The insurance sector has enhanced its capacity to safeguard and improve people's livelihoods, with personal insurance payouts reaching 1.2 trillion yuan in 2024, an increase of 88.08% from 2020, and property insurance payouts at 1.1 trillion yuan, up 57.14% from 2020 [2] - The insurance industry is actively developing commercial insurance products, optimizing coverage for new industries and urban residents, and improving the inclusive insurance system to better meet public needs [2] Group 1: Enhancements in Public Welfare - The insurance industry has expanded its coverage and improved service capabilities, with a focus on commercial insurance for long-term care and annuities [2] - Catastrophe insurance has achieved full coverage for common natural disasters in China, with over 20 provinces piloting comprehensive catastrophe insurance [2] - The urban and rural residential catastrophe insurance community provided 22.36 trillion yuan in catastrophe risk protection for 64.39 million households in 2024 [2] Group 2: Support for the Real Economy - The insurance sector is providing risk protection across various aspects of the real economy, including agriculture, with agricultural insurance premiums increasing from 97.6 billion yuan in 2021 to 148.37 billion yuan in 2024 [3] - Innovative insurance products, such as weather index insurance for oil tea gardens, have been developed to mitigate losses from adverse weather conditions [3] - The insurance industry has supported significant projects and infrastructure, with insurance fund utilization increasing from 21.68 trillion yuan at the end of 2020 to 34.93 trillion yuan by the first quarter of 2023 [4] Group 3: Ongoing Reforms - The auto insurance reform has led to a 21.2% decrease in average premiums, with the average compulsory insurance coverage increasing significantly [6] - The insurance industry is implementing reforms to enhance product pricing accuracy and operational efficiency, including the establishment of a dynamic adjustment mechanism for life insurance product rates [6] - A series of reform measures aim to improve the competitiveness and risk management capabilities of insurance companies while better serving national strategies and social governance [6] Group 4: Future Directions - The financial regulatory authority plans to continue enhancing risk management, regulatory oversight, and high-quality development in the insurance sector, emphasizing its role as an economic stabilizer and social safety net [7]