Non -listed personal insurance company semi -annual performance report: net profit shrinks more than 80 %, and investment income recovers in the second quarter

(Picture source: Oriental IC)

In the second quarter of 2022, the disclosure of the solvency disclosure of the solvency came to an end. The 61 personal insurance companies disclosed the announcement of a total of 640.9 billion yuan in premium income, of which a total of 8 insurance companies' premium income contracted year -on -year. In terms of profitability, non -listed insurance companies achieved a total net profit of approximately 4.43 billion yuan, a shrinkage of more than 80 % from the same period last year. Among them, a total of 32 family insurance companies showed a loss in the first half of the year, with more than 29 profitables in terms of quantity. Taikang Life has become a profit king of non -listed personal insurance companies for 6.15 billion yuan, and the most serious losses are China Post Life, with a net loss of 1.78 billion yuan in half a year.

In addition, so far, there are still including Qianhai Life, everyone Life, Fude Life Life, Huaxia Life, Junkang Life Insurance, Kunlun Health Insurance, Shanghai Life Insurance, Tianan Life, Zhongrong Life, Pearl River Life, Evergrande Life, Harmony Health Insurance A total of 12 family insurance companies have not disclosed the solvency report in the second quarter of 2022.

Taikang Life Leads the premium list of non -listed personal insurance companies.

First look at the premium performance of non -listed personal insurance companies.

A few days ago, the China Banking Regulatory Commission disclosed the industry's half -year data. By June 2022, personal insurance companies achieved a total of 2044.8 billion yuan in original premiums, an increase of about 3.5 percentage points year -on -year. Judging from the premium data of the 61 non -listed personal insurance companies, the total premium income was 640.918 billion yuan, accounting for about 31%.

From the perspective of the company, 61 non -listed personal insurance companies have obvious echelons. Taikang's life premium revenue ranks first among non -listed personal insurance companies. It achieved 97.092 billion yuan in premium revenue in half a year, but a slight decline of 1.34 percentage points year -on -year. Regarding premiums, Taikang Life also proposed in the solvency report that in the second quarter of this year, the industry was in a period of high -quality development and transformation. Although premium income was initially stabilized, the downward pressure on the macroeconomic decline continued to increase, and the incomplete consumption confidence under the epidemic situation was increasing. In the influence of many factors, the transformation of insurance demand is delayed, the offline exhibition industry is greatly tested, and premium income and new business value will continue to be under pressure.

China Post Life achieved a premium of 65.934 billion yuan, an increase of 6.33%year -on -year. The remaining premium revenue of the remaining personal insurance companies did not exceed 50 billion yuan. Sunshine Life Insurance and CCB Life revenue in the first half of the year revenue of 420.057 billion yuan and 38.941 billion yuan in premiums, with an increase of 26.64%and 29.62%.

In addition, there are hundreds of years of life premiums in Life, ICBC Ansheng Life, Cindee Life, and Agricultural Bank of China. 100 million.

According to the growth rate, according to statistics, a total of 53 non -listed personal insurance companies have achieved positive growth in premiums in the first half of the year. Well -off Life Life, which completed the rename of the "new stage", returned to the right track. In the first half of the year, the premium income was 399 million yuan. Based on the low base of last year, it achieved rapid growth. The premium revenue of Ruihua Health Insurance also made a significant breakthrough. After the year -on -year increase of 266.77 percentage points, it reached 1.236 billion yuan.

Dingcheng Life, Ruitai Life, and Hutai Life's half -year premiums have exceeded 90%. In addition, there are China Merchants Renhe Life, Luxury Life, Happiness Life, Junlong Life, China and South Korea Life, and Lian Lianshou premium income increased by more than 50%.

There are retreats and retreats. In the first half of the year, there were 8 family members such as Guobao Life Insurance, Fosun Paudexin, and Huahui Life Insurance.

Among them, after the national treasures have shrunk by 63.61 percentage points, they entered 631 million yuan in premium revenue in the first half of the year. Recently, the National Treasure Life's 2022 Work Promotion Association is proposing, "The deep issues of the company's development and growth still exist. Multiple problems and difficulties still need to continue to overcome and break through. First, the life insurance industry and the market have undergone profound changes. We still have insufficient preparations, slow actions, and passive action. "

Fosun Paudexin Life also has a decline of 27.75 percentage points; new products, business scale, and institutional construction are restricted, and Huahui Life Life, which has a small operating area, currently has only one -sale group regular life insurance but cannot form group guarantee plans for group guarantee plans. As a result, Huahui Life's semi -annual premiums contracted by 25%under the pressure of business pressure, and still facing the risk of incomplete governance structure.

During the same period, Hezhong Life's semi -annual premiums fell 18.97%, and Beijing Life's premiums fell 13.14%. Centennial Life and Minsheng Life also slightly contracted the scale of premiums.

The total net profit was 4.43 billion yuan contracted by about 80 % year -on -year, and the accumulation of investment performance

Look at the profit data. Statistics, in the first half of the year, 61 non -listed personal insurance companies achieved a total net profit of approximately 4.43 billion yuan, a year -on -year contraction of more than 80 %. Poor investment performance is the main influencing factor for personal insurance institutions to lose money or decline in profit. Especially in the first quarter of this year, the overall performance of the market was affected. Non -listed personal insurance companies invested overall pressure. Many investment yields were negative. Although in the context of the recovery of the capital market in the second quarter, the investment income of insurance companies had a good trend. , But the overall data for half a year is not optimistic.

From the perspective of the company, in the first half of 2022, the profitability of personal insurance companies was significantly differentiated, and Taikang Life Life, which led the profit list of non -listed personal insurance companies, reached 6.15 billion yuan, but compared with the net profit of 15.2 billion yuan in the same period last year, there is a net profit. Obviously shrinking. Sunshine Life, which is trying to impact the IPO, has achieved a net profit of 2.923 billion yuan. In addition, the net profit of the remaining 59 insurance companies is less than 700 million yuan. Zhongyi Life and Sino -US Liantai Life Life realized net profit of 631 million yuan and 597 million yuan respectively; CITIC Prudential Life, Happy Life, Jiaotong Life, China Merchants Nuo Life, and RMB Life Insurance exceeded 300 million yuan. The net profit exceeded 100 million yuan, the ICBC Ansheng Life, China and Germany Ande Life Insurance and other 7 family members' dangerous companies.

Among them, Blue Whale Insurance noticed that a number of personal insurance companies that remain profitable have also fallen a large proportion of net profit. Compared with 137 million yuan in the first half of 2021, Huatai Life has only achieved a net profit of 119,400 yuan in half a year this year. The net profit of Xinmei Life has shrunk by more than 70%.

Judging from the losses composed of 32 insurance companies, China Post Life has a net loss of 1.78 billion yuan in the first half of this year. On the one hand, according to the industry analysis, after the introduction of AIA in China at the beginning of the year, China Post Life is increasing the danger layout, and the high construction costs of individual insurance channels are also reflected in the profit data of China Post Life. On the other hand, investment is also one of the main influencing factors. In the first half of this year, China Post Life's net asset yield was -5.6%, the total asset yield was -0.4%, and the comprehensive investment yield was only 0.8%.

The century-old life in the second half of the loss list, a net loss of 1.311 billion yuan in the first half of the year, said that it was affected by the downturn and discount rate of the capital market. The data showed that the net asset yield in the first half of the year of the century reached -20.2%. More serious problems exist in corporate governance, because of the company's governance in operational risks, Centennial Life has maintained the competence rating on the qualified line shortly, and once again reduced to Class C. In this regard, Blue Whale Insurance interviewed the specific issues of corporate governance in Centennial Life, but as of press time, it has not been responded.

There are still a century -old life loss of more than 1 billion yuan in half a year, with a net loss of 1.1 billion yuan. Lian Life Insurance and Bohai Life Life loses 703 million yuan and 694 million yuan, respectively. HSBC Life, Peking University, Life Insurance, Yingda Life Insurance and other 12 family members' danger companies also lost more than 100 million yuan.

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