Core Insights - The article highlights the significant growth in the profitability of property insurance companies in the first three quarters of 2025, with a net profit increase of 53.5% year-on-year, reaching a historical high of 778.3 billion yuan [11][12] - The improvement in profitability is attributed to both underwriting and investment performance, with the underwriting profit margin rising by 1.04 percentage points to 2.59% and the total investment return rate increasing by 0.78 percentage points to 3.23% [13][14] Profitability Analysis - The median total investment return rate for property insurance companies in the first three quarters of 2025 is reported at 2.56%, with a simple average of 3.02% and a weighted average of 3.23% [3][16] - A total of 14 companies achieved total investment returns exceeding 4.0% [3][16] - The median underwriting profit margin is -0.01%, with a weighted average of 2.59%, indicating that larger companies tend to have higher underwriting profit margins [5][22] Company Performance Rankings - The article provides a ranking of the top ten property insurance companies based on net profit and return on equity (ROE) [6][23][24] - The top three companies in net profit are: 1. People's Insurance Company: 336.3 million yuan 2. Ping An Property Insurance: 155.5 million yuan 3. Taiping Property Insurance: 87.7 million yuan [27] Profitability Grouping - Companies are categorized based on their profitability from underwriting and investment: - Group 1: Both underwriting and investment profitable (e.g., People's Insurance, Ping An Property) - Group 2: One profitable, one unprofitable but overall profitable (e.g., Taikang Online) - Group 3: One profitable, one unprofitable but overall unprofitable - Group 4: Both unprofitable [8][26] Investment Return Distribution - The distribution of total investment returns shows a left-skewed negative distribution, with 39 companies reporting a comprehensive investment return rate lower than the previous year [15][16] - The highest total investment return rate recorded is 22.77% by Fubon Property [19][33]

Core Insights - The net profit of non-listed property and casualty insurance companies in Q2 2025 increased significantly by 75% year-on-year, reaching a total of 9.25 billion yuan [11][14] - The improvement in net profit is attributed to both underwriting and investment performance, with the underwriting profit margin rising by 0.80 percentage points to 2.11% and the total investment return rate increasing by 0.34 percentage points to 1.61% [11][14] Summary by Sections Profitability Metrics - The median total investment return rate for non-listed property and casualty insurance companies in Q2 2025 was 1.47%, with a simple average of 1.83% and a weighted average of 1.61% [17][14] - The distribution of total investment returns showed a negatively skewed distribution, with 18 companies achieving returns over 2.0% [19][21] Underwriting Performance - The median underwriting profit margin for non-listed property and casualty insurance companies was -0.43%, while the weighted average was 2.11%, indicating that larger companies tend to have higher underwriting profit margins [21][6] - Approximately 45% of the companies reported profitable underwriting [21][7] Company Grouping Based on Profitability - Companies were categorized into four groups based on their underwriting and investment profitability: - Group 1: Both underwriting and investment profitable (35 companies) - Group 2: One profitable, one unprofitable but overall profitable (33 companies) - Group 3: One profitable, one unprofitable but overall unprofitable (8 companies) - Group 4: Both underwriting and investment unprofitable (no companies) [8][9] Rankings and Performance - The top ten non-listed property and casualty insurance companies by net profit were listed, with China Life Property, Yingda Property, and China United leading the group [28][23] - The top ten companies by return on equity (ROE) included Fubon Property and Zhonghui Mutual, with Fubon achieving an ROE of 51.8% [31][25] Investment Return Rankings - Fubon Property led the total investment return rankings with a remarkable 22.15% return [34][19] - The overall investment return rates of various companies were detailed, highlighting the performance of both profitable and unprofitable entities [34][19]