China BOCOM Insurance to maintain stable performance with BOCOM support

CBIC’s earnings continue to rely on investment income.

China BOCOM Insurance Company (CBIC) is expected to maintain stable performance, backed by strong capitalisation and support from its parent, Bank of Communications (BOCOM), AM Best said.

The insurer’s capital position improved in 2024 through profit retention and favourable investment movements, though its appetite for unlisted equity investments and reliance on reinsurance remain risks. 

CBIC’s earnings continue to rely on investment income, with underwriting pressured by high expenses relative to its small premium base.

Whilst its market share in Hong Kong’s general insurance sector is modest, CBIC benefits from BOCOM’s distribution channels and brand strength. 

AM Best expects the company to deliver adequate operating results over the near term, supported by group synergies and a diversified portfolio.