Reporters

According to the recent business-recovered solvency report, over a quarter, 83 financial-insurance companies achieved a total net profit of approximately $17 billion, an increase of about $1 billion over the same period last year, which was about 6.3 per cent. According to the Board data, the company’s premiums increased by 10.45 per cent on a quarterly basis. This implies a double-edged increase in income and net profits from the company’s premiums during the first quarter of the year.

In-services, it was felt that a quarter of the company’s premium income was higher than that of the economy, mainly as a result of the overall recovery of economic life; the net profit-on-per-cent growth was largely due to the return of capital markets in the first quarter and the improvement of investment returns.

Income from premiums is equal to double-digit growth

According to the Board’s statistics, a quarter of all industry-wide fiscal insurance companies earned approximately $46.67 billion, an increase of 10.45 per cent in comparable calibre.

An analysis of journalists by PricewaterhouseCoopers, China’s Financial Industry Management Consulting Partner, stated that business production was normal in the first quarter and consumer confidence in economic growth was restored. The fiscal sector also has the opportunity to accelerate development, and the growth in premiums has continued over the past year.

In terms of insurance business income data disclosed in the Affordability Report, the fiscal market still exhibits a higher concentration. In the first quarter, income from insurance operations for human security is approximately $168 billion, up by 10.2 per cent as compared with the market share of about 36 per cent; insurance operations for security insurance have income of approximately $77 billion, an increase of 5.5 per cent as compared with the market share of about 16.5 per cent; insurance operations for insurance coverage for too-product insurance have income of approximately $57.8 billion, an increase of 16.8 per cent as compared to the market share of about 12.4 per cent.

Overall, the “old three” insurance market for fiscal insurance accounts for about 65 per cent. In its capacity to pay report, CPI mentioned that during the first quarter, social production has been gradually restored, and that the economic situation in my country has been generally rebounding, creating space for corporate operations, converging with national policy orientation, industrial development needs, the risk of consumer demand for the population to develop opportunities, and upgrading the business of priority client groups, such as service-oriented new enterprises and new citizens.

The PES indicates that macroeconomic recovery is expected to underpin fiscal development. In terms of vehicle insurance operations, this year our automobile industry entered the promotional policy swap, with multiple factors that add to the overall pressure on the automobile industry, but the high growth of new energy vehicles is evident. Building on the consolidation of the advantages of traditional fuel vehicles, companies continue to optimize the new energy vehicle-risk business model and continue to pay attention to innovative technological developments, such as automatic driving, and changes in the market environment, examining the risks and impacts of new technologies.

In terms of compensation payments, GAPS data show that the company’s overall payment expenditure of $229.9 million in the first quarter was equal to 10.9 per cent higher than the premium income.

In terms of combined cost rates, there was a quarterly increase in the combined cost rate of 46 companies in fiscal interest and a decline in the combined cost rate of 37 companies. In terms of insurance profits, there were 30 financial insurance companies that achieved insurance profits in the first quarter, a marked decrease from 42 in the same period last year, and an increase in the combined cost of the industry.

Significant improvements in investment returns over the past year

In terms of net profits, 83 companies received a total net profit of $170.5 million a quarter, an increase of approximately 6.3 per cent. Of these, 57 companies achieved profits totalling $178,93 million; 26 companies suffered losses totalling $888 million.

On a quarterly basis, capital markets were re-emerged, with generally much better returns on venture investment than in the previous year, although the combined cost rate had led to a decline in profits, the overall level of profits in the industry had increased.

The data show that 82 of the 83 companies are experiencing positive overall investment returns and that nearly eight firms have increased their combined investment returns.

For example, in the first quarter, the combined investment return rate for catalyze was 6 per cent, compared to only -2 per cent in the same period last year; the combined investment return rate for the North Bay financial insurance was 2.43 per cent, compared to 1.1 per cent in the same period last year; and the combined investment return rate for national insurance was 1.38 per cent, compared to 3.86 per cent in the same period last year.

According to an analysis of journalists, during the past year, the company was able to earn a good business profit, with many companies paying a reserve for this year’s profits, adding to the improved investment returns this year, and the net profit of the company continued to grow.

In the area of investment, P&P indicated that in 2023, companies will control equity-type assets (including secondary equity and equity investments) at a rate of 30 per cent, overstretched secondary market interests, take advantage of market opportunities, increase investment returns, gradually increase high scores, low volatility of stock varieties, stabilize equity investment ratios, select equity portfolios, and promote industrial investment layouts through a chain of equity.

Significantly, during the first quarter, the net profit of the human capital insurance was approximately $9.8 billion, an increase of $1,147 million over the same period last year, with net profits exceeding half the net profit of the industry. Weekly analyses indicate that, as the financial sector is constantly undergoing a process of transition, professional wind control and business capacity are increasingly becoming central to the competitiveness of the venture. At the same time, the branding of new energy vehicles and associated innovative competitions require considerable inputs and SMEs do not take advantage of these areas, so that the industry’s manifold effects are expected to increase.

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