The first quarter report of listed insurance companies has been published.Benefiting from the investment income, the four listed insurance companies achieved a total net profit of 40.762 billion yuan in the first quarter, with a year-on-year growth of 78.72%, and the growth rate of the four listed insurance companies exceeded 50%.
In fact, the four listed insurance companies are only the epitome of the insurance industry, and the profit growth of the whole industry in the first quarter was more than 100%.Recently, according to the data released by the CIRC, in the first quarter, the total profit of insurance companies is expected to be 87.09 billion yuan, an increase of 51.19 billion yuan or 142.6% year on year.
Among the four listed insurance companies, according to the net profit attributable to the shareholders of the parent company, Ping An of China ranked first with 19.964 billion yuan, and the other three were China Life Insurance with 12.271 billion yuan, China Taibao with 4.903 billion yuan and Xinhua insurance with 3.624 billion yuan.According to the ranking of net profit growth, Xinhua Insurance ranked first with 132.3%, and the others were China Ping An 84.7%, China Life Insurance 69.8% and China Pacific Insurance 52.7%.
Investment income has been greatly boosted
Investment has become the key word for the rising net profit of insurance companies in the first quarter.According to the first quarter report of Ping An, thanks to the good performance of the capital market and the reasonable allocation of investment assets, both net investment income and realized income increased year on year.截至2015年3月31日，中国平安归属于母公司股东权益3147.27亿元，资产总额约42.2万亿元，分别比年初增长8.7%和5.2%。
In addition to investment performance, another major factor driving the performance of listed insurance companies in the first quarter is the underwriting business.A good start in 2015 has brought remarkable results.In 2015, insurance companies became the first channel of “public listing” with a big increase in insurance premium.
On the basis of the high growth base of life insurance premium in the first quarter of last year, the premium income of listed insurance companies in the same period of this year still maintained a positive growth.In terms of earned premium index, in the first quarter, China Life Insurance earned 150.310 billion yuan, an increase of 16.5% over the same period last year; China Ping An earned 114.606 billion yuan, an increase of over 18%; China Taibao earned 57.427 billion yuan, an increase of about 3% over the same period last year; Xinhua Insurance earned 51.624 billion yuan, an increase of 7.4% over the same period last year, and its insurance business income was 51.997 billion yuan.
According to industry analysts, “for large insurance companies, maintaining double-digit growth can show that the overall life insurance industry is picking up, while the bancassurance channel products and surrender rate are worthy of attention.”In terms of the sub channel premium income of Xinhua insurance, its bancassurance channel is still the largest, accounting for 63%.
The increase of surrender has also become the general trend of the industry.In terms of surrender, the surrender amount of Xinhua insurance increased by 190.1% to 30.677 billion yuan in the first quarter.The reasons for Xinhua insurance’s explanation are: the impact of the withdrawal of life insurance market and the increase of life insurance surrender premium.In the first quarter, the surrender amount of China Taibao also increased by 69.3%.
Due to the increase in the surrender amount of some endowment insurance products, the surrender amount of Ping An insurance increased by 222.5% to 8 billion yuan.The surrender rate of China Life Insurance reached 3.38%, and the surrender amount reached 58.68 billion yuan, up 193.4% year on year.The company said that this is mainly due to the capital market, financial products and other factors, bancassurance channel part of the product surrender increase.