China: Five major A-share listed insurers collects 1.3 trillion yuan of original premiums in the first five months, up 0.69% year-on-year
Recently, five major A-share listed insurance companies all disclosed their premium income in the first five months of this year. According to statistics, the five insurance companies achieved a total of 1.30 trillion yuan in original premium income for the first five months of this year, only achieving a year-on-year increase of 0.69%. The growth rate has slowed down significantly, because in the first four months of this year, they achieved a year-on-year growth of 5.63%.
Xu Fei, a researcher at Wanlian Securities, believes that insurance companies’ debt side was apparently under pressure in May, and the year-on-year drop in insurance premiums for new policies continued to expand. On the one hand, insurance agents continued to withdraw, which led to reduction of channel sales. On the other hand, demands of the first half of year have been cashed out intensively at the beginning of the year. It has been very challenging for insurance companies to find customers and expand business. The recent sluggish performance of premiums is a short-term shock in the continued recovery of the debt side.
https://www.reddit.com/r/StockMarket/comments/o6x7q8/china_five_major_ashare_listed_insurers_collects/
