Weekly Insurance Overview (3.13—3.20)

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◆Regulatory Voice

State Administration of Financial Supervision: Improve the Catastrophic Insurance Guarantee System and Promote the Development of Commercial Health Insurance

On March 16, the Party Committee of the State Administration of Financial Supervision held an expanded meeting. The meeting emphasized urging banking and insurance institutions to focus on their main businesses and develop in a differentiated manner. It called for deepening the reduction and quality improvement of local small and medium financial institutions and optimizing their layout. Continue to regulate industry order and thoroughly rectify disorderly competition. Constantly improve the quality and efficiency of financial services to the real economy. Focus on the “five major articles” of finance, adhere to a combination of benefiting people’s livelihoods and promoting consumption, investing in goods and investing in people, and increase financial support for key areas and weak links. Guide financial institutions to actively support special actions to boost consumption, strengthen full-chain and full-lifecycle financial services for technological innovation, and assist the development of new productive forces. Improve the catastrophic insurance guarantee system, vigorously develop commercial health insurance and long-term care insurance, and strengthen financial services for new employment groups.

By the end of Q4 2025, the total assets of China’s insurance industry institutions reached 41.31 trillion yuan, a year-on-year increase of 15.1%

On March 13, the People’s Bank of China released data showing that, preliminary statistics indicate that by the end of Q4 2025, the total assets of China’s insurance industry institutions were 41.31 trillion yuan, a year-on-year increase of 15.1%. The liabilities of insurance institutions amounted to 37.65 trillion yuan, a year-on-year increase of 15.6%.

◆Industry Focus

China Insurance Industry Association: Will Gradually Promote Demonstration Clauses for Humanoid Robot Insurance

Humanoid robot insurance is currently in its early stages. The China Insurance Industry Association stated that it will gradually promote demonstration clauses for humanoid robot insurance. Since the beginning of this year, many regions have introduced policies to stimulate market demand for robot insurance through premium subsidies and other measures. In Beijing, companies can insure their complete humanoid robot products and receive a subsidy of 50% of the actual premium, with a maximum of 1 million yuan per year; in Ningbo, a special subsidy for humanoid robot application insurance has been established, providing insurance subsidies of 80% of the actual annual premium for companies with premium rates not exceeding 3%.

Nine bank-affiliated insurance companies achieved a total net profit of over 19 billion yuan last year

Recently, the close of the 2025 Q4 solvency reports of insurance companies was announced, revealing the operating status of bank-affiliated insurers. Data shows that in 2025, bank-affiliated insurers performed well, with nine companies collectively achieving insurance business revenue of 443.816 billion yuan, a year-on-year increase of 15.5%, and a total net profit of 19.366 billion yuan, a year-on-year increase of 65.5%.

◆Financial Personnel

China Re: Zhu Xiaoyun Approved as President of the Company

China Reinsurance announced that on March 17, 2026, it received the approval from the National Financial Regulatory Authority regarding Zhu Xiaoyun’s qualification for the position. According to the approval, the National Financial Regulatory Authority officially approved Zhu Xiaoyun’s appointment as President of the company on March 16, 2026. Zhu Xiaoyun will assume office from that date, with a term until the expiration of the fifth board of directors, and may be re-elected upon term completion.

Yuan Wei Approved as Chairman of Ancheng Property & Casualty Insurance

On March 18, the Chongqing Financial Regulatory Bureau issued a reply confirming the approval of Yuan Wei’s qualification as director and chairman of Ancheng Property & Casualty Insurance Co., Ltd. On September 28, 2025, Ancheng Insurance held a cadre meeting and nominated Yuan Wei as the company’s chairman candidate.

Ping An Asset Management: Zhang Jianying Appointed as General Manager

On March 19, the official website of Ping An Asset Management disclosed that, after review and approval at the 17th meeting of the seventh board of directors on September 12, 2025, and approval by the National Financial Regulatory Authority, Zhang Jianying was appointed as General Manager.

Liu Dayong, General Manager of Oriental Jiafu Life Insurance, Approved for Position

On March 16, the Zhejiang Regulatory Bureau of the National Financial Regulatory Authority issued a reply approving Liu Dayong’s qualification as General Manager of Oriental Jiafu Life Insurance Co., Ltd.

(Edited by: Qian Xiaorui)

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