同比大增！非上市财险公司上半年狂赚92.6亿元

Core Insights - Non-listed property insurance companies reported strong performance in the first half of 2025, with total insurance revenue of 259.49 billion yuan, a year-on-year increase of 7.5%, and net profit of 9.26 billion yuan, up 75.2% [1][4] Group 1: Financial Performance - Among the 76 non-listed property insurance companies, 68 achieved profitability, representing nearly 90% of the total [2] - The insurance industry achieved original premium income of 3.74 trillion yuan in the first half of 2025, a year-on-year growth of 5.3%, with property insurance companies generating 964.5 billion yuan, up 5.1% [4] - China Life Property Insurance led non-listed companies with premium income of 59.27 billion yuan and net profit of 2.43 billion yuan, the only company exceeding 2 billion yuan in net profit [4] Group 2: Profitability and Cost Ratios - 14 non-listed property insurance companies reported net profits exceeding 100 million yuan, while 14 others turned losses into profits compared to the previous year [5] - Over 60% of companies saw a decrease in comprehensive cost ratios compared to the previous year, indicating improved profitability [5] - China Fishery Mutual's comprehensive cost ratio significantly dropped from 279.69% to 94.82%, contributing to a net profit of 20 million yuan [5] Group 3: Losses and Challenges - Eight non-listed property insurance companies reported net losses, a decrease from the previous year, with the largest losses from Qianhai Insurance, Modern Insurance, and Taiping Technology [6][7] - Qianhai Insurance has faced continuous solvency issues, with a comprehensive cost ratio of 244.05% and a risk rating downgraded to C class [7] - New entrant Dongwu Insurance reported minimal revenue of 1.9 million yuan and a net loss of 1.848 million yuan, highlighting challenges faced by smaller companies in achieving scale and competitive advantages [8]