China Life(02628) 财经网·2024-04-19 03:08Core Viewpoint - The five major listed insurance companies in A-shares reported a total premium income of 10,664.23 billion yuan in the first quarter, reflecting a year-on-year growth of 0.96%, indicating a recovery trend in the insurance sector after a previous decline [1][2]. Group 1: Premium Income Performance - The five major insurance companies, namely China Life, China Pacific, China Ping An, China Property, and New China Life, achieved a total premium income exceeding 10 trillion yuan, marking a return to positive growth after two months of negative performance [2]. - Among these companies, China Life led with a premium income of 3,376 billion yuan, up 3.2% year-on-year, while China Ping An followed with 2,644.22 billion yuan, a 1.6% increase [2]. - The life insurance segment faced pressure, with only China Life and Ping An Life showing positive growth, the latter achieving a premium income of 1,733.02 billion yuan, up 0.9% [2]. Group 2: Property Insurance Growth - In contrast to the mixed performance in life insurance, the property insurance sector continued to show comprehensive growth, with total premium income from China Pacific Property, Ping An Property, and China Property reaching 3,155.44 billion yuan, a 4.4% increase [2]. - Specifically, China Pacific Property reported a premium income of 624.91 billion yuan, up 8.6% [2]. - The main insurance products, particularly auto insurance, also saw growth, with China Property and Ping An Property reporting premium incomes of 692.40 billion yuan and 517.98 billion yuan, respectively, reflecting year-on-year increases of 1.92% and 3.54% [2]. Group 3: Market Outlook and Trends - The stock performance of insurance companies improved significantly, with major stocks rising over 3% on April 18, indicating a positive market sentiment driven by policy support and the return to positive premium growth [3]. - Analysts suggest that the insurance sector is expected to maintain a stable growth trajectory throughout the year, influenced by economic recovery and increased consumer demand [4]. - However, challenges such as intensified market competition, regulatory adjustments, and technological innovations necessitate continuous strategic adjustments and risk management by insurance companies to ensure sustainable development [4].