13个精算师·2025-08-15 11:03Core Insights - The core conclusion of the article indicates that in 2024, the property insurance industry is expected to generate a total premium income of 1.69 trillion yuan, with the top five products accounting for 1.50 trillion yuan, representing 89% of total business income [1][19]. Group 1: Premium Income and Product Distribution - In 2024, the distribution of premium income among major insurance types is as follows: auto insurance at 913.7 billion yuan, health insurance at 257.6 billion yuan, agricultural insurance at 148.4 billion yuan, and liability insurance at 137.2 billion yuan [17]. - The number of companies with auto insurance as their primary product remains high at 51, accounting for 60% of the total, while the number of companies with corporate property insurance is 11 (13%), health insurance is 8 (9%), liability insurance is 7 (8%), and credit guarantee insurance is 3 (4%) [21][24]. Group 2: Underwriting Profit Analysis - In 2024, the underwriting profit for auto insurance is reported at 14.77 billion yuan, making it the main profit source for the property insurance industry, with an average rate of 0.091% and a profit margin of 1.69% [29]. - Health insurance is expected to generate a profit of 1.98 billion yuan, with an average rate of 0.0042% and a profit margin of 0.852% [29]. - Liability insurance is projected to incur a loss of 6.84 billion yuan, marking it as the largest loss-making segment in the industry, with an average rate of 0.0022% and a profit margin of -5.237% [29][43]. - Corporate property insurance is also expected to face significant losses of 2.56 billion yuan, with an average rate of 0.036% and a profit margin of -5.464% [29][50]. Group 3: Trends and Changes - The trend shows a decline in the proportion of companies with auto insurance as their primary product, decreasing from 65% in 2010 to 60% in 2024, while the number of companies with health insurance as their primary product has increased from 0% in 2010 to 9% in 2024 [21]. - The underwriting profit distribution indicates that while auto insurance remains the primary product for many companies, the profits are shared among various types, with 19 companies ranking auto insurance as their top profit source [9][24].