Transocean(US:RIG) Jin Rong Shi Bao·2025-12-17 04:41Global Insurance Market Overview - The global insurance premium growth is expected to slow down over the next two years, with total premium growth rate projected to decline from approximately 3.1% in 2025 to 2.3% in 2026-2027 [1][2] - Life insurance is anticipated to accelerate, with premium income growth expected to rise to about 2.5% during the same period, driven by high interest rates and increasing demand for retirement and health coverage due to aging populations [2] - Non-life insurance growth is projected to slow to around 2.1%, impacted by intensified competition in developed markets and declining rate cycles, although long-term demand for risk coverage in emerging sectors like AI will support this segment [2] Risk and Challenges - The complexity and cost of risks are increasing, with annual insurance losses from natural disasters exceeding $100 billion and approaching $150 billion, while about half of economic losses globally remain uninsured, particularly in emerging markets [3] - The interconnected nature of risks and underestimation of certain risks are highlighted, with new risks emerging from sectors like AI and energy transition, challenging traditional pricing models and underwriting capabilities in the insurance industry [3] Opportunities in the Chinese Insurance Market - The Chinese insurance market, particularly the property insurance sector, is viewed as a significant growth area, with average annual premium growth expected to remain between 5% and 6% from 2025 to 2030, significantly higher than the global average [4] - Five key thematic opportunities are identified: disaster prevention and reduction, green development, rural revitalization and agricultural modernization, overseas investment by Chinese enterprises, and industrial modernization in emerging technologies [4][5] - The profitability foundation of the Chinese insurance market is strengthening, with reforms in auto insurance and the application of AI in underwriting and claims management expected to optimize costs and lead to sustainable underwriting profits by 2027 [5]