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 Livelihood Protection - The insurance industry has expanded its coverage and improved service capabilities, with a focus on commercial insurance annuities and long-term care insurance [2] - Catastrophe insurance has achieved full coverage for common natural disasters in China, with over 20 provinces piloting comprehensive catastrophe insurance [2] - In 2024, the urban and rural residential catastrophe insurance community provided 22.36 trillion yuan in catastrophe risk protection for 64.39 million households [2] Group 2: Support for the Real Economy - The insurance sector has provided risk protection across various aspects of the real economy, including agricultural insurance, which saw premium income grow 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 also supported major projects and infrastructure through long-term investments, with the balance of insurance funds increasing from 21.68 trillion yuan at the end of 2020 to 34.93 trillion yuan by early 2023 [4] Group 3: Ongoing Reforms in Key Areas - The implementation of comprehensive reforms in auto insurance has led to a 21.2% decrease in average premiums, with significant increases in coverage limits [6] - The insurance industry is undergoing reforms to enhance product pricing accuracy and operational efficiency, including the establishment of a dynamic adjustment mechanism for life insurance product rates [6] - These reforms aim to improve the competitiveness and risk management capabilities of insurance companies while better serving national strategic goals and enhancing social governance [6] Group 4: Future Directions - The financial regulatory authority plans to continue enhancing risk management, regulatory oversight, and high-quality development within the insurance sector [7] - The focus will be on strengthening the insurance industry's role as an economic stabilizer and social stabilizer, while improving insurance protection capabilities and service levels [7]