China insurers lift premiums 6.2% as claims rise 7.5% in Q1 2026

New insurance policies climbed 29% to 32.1 billion during the quarter

China's insurance sector reported higher premium income and claims in the first quarter of 2026 (Q1 2026), whilst maintaining capital levels well above regulatory requirements, according to supervisory data.

Insurance companies generated $345.0b (RMB2.3t) in primary insurance premium income in the three months to March, up 6.2% from a year earlier.

Insurance claim and benefit payments rose 7.5% year-on-year to $133.4b (RMB889.3b). The number of new insurance policies written increased 29% to 32.1 billion.

Total assets held by insurance companies and insurance asset management companies reached $6.4t (RMB42.5t) at the end of the first quarter, up 2.8% from the start of the year.

Assets of property and casualty insurers rose 5.9% to $495.0b (RMB3.3t), whilst personal insurance companies' assets increased 2.6% to $5.6t (RMB37.3t) in Q1 2026.

Insurance asset management companies recorded assets of $22.9b (RMB152.4b), up 4.7%, whilst reinsurance companies' assets edged down 0.2% to $128.9b (RMB859.1b).

The sector's solvency remained above regulatory minimums. As of the end of March, the comprehensive solvency ratio stood at 181.0% and the core solvency ratio was 131.9%, exceeding the required levels of 100% and 50%, respectively.

By business line, property and casualty insurers reported a comprehensive solvency ratio of 242.6% and a core solvency ratio of 210.6% in Q1 2026.

Personal insurers recorded ratios of 170.7% and 118.1%, whilst reinsurers posted 207.4% and 179.8%, respectively.

($1.00 = RMB6.78)