B[Two departments: Gather the joint efforts of the business system and the insurance industry to promote the development of domestic trade insurance in a steady and orderly manner] On September 29, the State Administration of Financial Supervision and the Ministry of Commerce jointly issued the "Notice on Strengthening the Collaboration of Business and Insurance to Do a Good Job in Domestic Trade Insurance". The Notice consists of three parts. The first is to put forward overall requirements. It is proposed that the business system and the insurance industry should work together to promote the development of domestic trade insurance in a steady and orderly manner. Support Beijing, Jiangsu, Fujian, Hunan, Guangdong, Sichuan, Ningbo, and Shenzhen to increase practical exploration of domestic trade insurance, and encourage more qualified and willing regions to promote the expansion and increase of domestic trade insurance based on their own actual conditions. The second is to clarify nine key tasks. This includes accurately expanding potential customers, supporting the needs of emerging and small and medium-sized entities, improving the supply of security capabilities, giving full play to the role of mutual insurance bodies, promoting credit data sharing, strengthening business risk prevention and control, establishing industry collaboration mechanisms, strengthening domestic trade insurance supervision, and increasing publicity and promotion efforts. The third is to emphasize strengthening organizational guarantees. This includes strengthening local organizational leadership, coordinating the use of existing funding channels, researching and providing policy support, and timely tracking and summarizing progress. The "Notice" will help explore effective experiences and practices in domestic trade insurance according to local conditions, strengthen the supervision of domestic trade insurance, prevent and resolve domestic trade insurance risks, and steadily and orderly promote the expansion of underwriting scale and coverage of domestic trade insurance. B[Compulsory traffic insurance compensation will be 252.4 billion yuan in 2025, a year-on-year increase of 11.6%] On September 24, the Compulsory Traffic Insurance Operations in 2025 announced by the State Administration of Financial Supervision showed that the coverage of compulsory traffic insurance continued to expand, with the number of insured motor vehicles reaching 386 million, a year-on-year increase of 3.8%. Among them, the number of insured cars totaled 347 million, a year-on-year increase of 3.9%. The amount of compulsory traffic insurance coverage reached 76.8 trillion yuan, a year-on-year increase of 3.4%. Compensation expenses were 252.4 billion yuan, a year-on-year increase of 11.6%. Compulsory traffic insurance premium income was 285.2 billion yuan, a year-on-year increase of 5.2%. The average vehicle premium was basically stable. The average vehicle premium for compulsory traffic insurance that year was 762.1 yuan, a year-on-year decrease of 0.1%. Affected by factors such as the improvement of personal injury protection compensation standards and the increase in the proportion of new energy vehicles, the operating loss of compulsory traffic insurance in 2025 will be 23 billion yuan. At the same time, the insurance industry continues to strengthen supervision, standardize disorderly competition, and promote cost reduction and quality improvement. From January to August 2026, the industry's comprehensive ratio of auto insurance dropped to 95.8%, and operation and management continued to be optimized. B[Shanghai Financial Supervision Bureau: Explore the establishment of a pilot mechanism for the application of large generative artificial intelligence models in the financial field] On September 24, the Shanghai Financial Supervision Bureau issued "Several Measures to Promote the Application of Artificial Intelligence in the Shanghai Banking and Insurance Industry." It pointed out that supervision and support should be strengthened. Explore the establishment of a pilot mechanism for the application of large generative artificial intelligence models in the financial field, and actively strive to include Shanghai in the regional pilot program carried out by the State Administration of Financial Supervision, allowing financial institutions to gradually carry out direct customer-facing large model applications in a controlled environment, and connect with the cyberspace department's generative artificial intelligence service filing and application registration mechanisms. Research an inclusive, prudent, classified and hierarchical flexible regulatory framework for artificial intelligence, explore the establishment of a fault-tolerant mechanism for artificial intelligence applications, establish differentiated tolerance for events of different risk levels, and accelerate the formation of a dynamic, agile, diverse and collaborative artificial intelligence governance structure. B[Chen Wenhui: The personal insurance business model should be promoted from "funding-based" to "protection-based and service-based"] September 12th, at the third longevity risk and capital market solutions conference today, Chen Wenhui, former vice chairman of the China Banking and Insurance Regulatory Commission, pointed out that due to over-reliance on businesses with strong savings and investment attributes, China's life insurance industry continues to be under the pressure of asset-liability mismatch and interest rate loss risks. In 2025, the total premium of China's personal insurance industry will be approximately 4.36 trillion yuan, of which life insurance accounts for 81.5%, and health insurance and accident insurance combined account for only 18.5%. In the first half of 2026, the proportion of life insurance has further increased to 83.4%, and the proportion of health insurance and accident insurance has dropped to 16.6%. Structural differentiation continues. Even if health insurance and accident insurance operated by property and casualty insurance companies are included, the proportion of related businesses in the personal protection business in the first half of 2026 will only be 22.5%. Chen Wenhui said that the personal insurance business model should be promoted from "funding-based" to "protection-based and service-based". (Reporter Xia Shuyuan) A[The five major listed insurance companies’ net profits in the first half of the year increased by nearly 80% and continued to increase their equity assets] On August 31, the semi-annual reports of A-share listed insurance companies have been disclosed, and the profits of many insurance companies have reached record highs. In the first half of 2026, the five major A-share listed insurance companies, China Life, Ping An of China, PICC, China Pacific Insurance and New China Insurance, achieved a total net profit attributable to parent companies of 317.387 billion yuan, an increase of 78.12%, an increase of 139.195 billion yuan. The combined net profit growth of these five insurance companies reached a new high based on the high base in the same period last year. It is worth noting that listed insurance companies continue to increase their equity assets. As of the end of the second quarter, the total balance of stock assets of the five insurance companies reached 2.82 trillion yuan.
— All loaded —
