57 Non-Listed Life Insurers' H1 2026 Net Profit Up 109.4%; Benchmark Rate at 1.94%

Fifty-seven non-listed life insurance companies have disclosed their operating results for the first half of 2026. The data show that these companies collectively generated insurance business income of RMB 796.173 billion, up 9.7% year on year, and net profit of RMB 60.439 billion, up 109.4%. In terms of insurance business income, 35 companies, or 61.4% of the total, recorded year-on-year growth.

On the profit front, 50 companies were profitable, with combined earnings of RMB 61.269 billion. Taikang Life, China Post Life, ICBC-AXA Life, ABC Life and CCB Life topped the insurance business income ranking with RMB 144.505 billion, RMB 129.138 billion, RMB 32.425 billion, RMB 31.145 billion and RMB 37.049 billion, respectively. In the net profit ranking, the same five companies earned RMB 15.821 billion, RMB 7.068 billion, RMB 4.317 billion, RMB 3.312 billion and RMB 3.201 billion, respectively. On a year-on-year basis, 30 companies posted higher net profit, six posted lower net profit, 14 swung from losses to profit, two widened losses, four narrowed losses and one swung from profit to loss.

The China Insurance Association recently published the latest research value for the guaranteed interest rate on ordinary life insurance products at 1.94%. This is the first time since the publication was launched in 2025 that the value has risen for two consecutive reporting periods, reversing the previous streak of four consecutive declines. As an actuarial assumption underpinning insurance product design, changes to the research value directly affect product pricing and policyholder returns.