Taibao Property & Casualty Insurance's Chen Hui: It is expected that by the end of 2026, the impact of personal credit guarantee insurance will be fully cleared.

Ask AI · What operational optimization strategies are revealed by improvements in the non-motor insurance cost ratio?

Beijing Business Today (Beijing shang bao), March 27 (Reporter Hu Yongxin) — China Taiping Insurance Group held its 2025 annual results press conference. Chen Hui, General Manager of PICC Property and Casualty, said that at the beginning of 2025, PICC Property and Casualty proactively adjusted its individual credit guarantee insurance business, and should be said to have been “very resolute.” It is expected that by the end of 2026, the impact of risk from individual credit guarantee insurance should have been fully cleared. For 2026, the overall cost impact on non-motor insurance should also be very small and will not have an adverse effect on the company’s overall operations.

The annual report shows that in 2025, PICC Property and Casualty’s non-motor original insurance premium income was 90.9888 billion yuan, down 3.1% year over year. Driven by the proactive adjustment of its business structure, the original insurance premium income from individual credit guarantee insurance was -1.691 billion yuan; compared with the previous year, the scale was compressed by 55.21 billion yuan, and the risk exposure narrowed significantly. The overall underwriting combined loss ratio for non-motor insurance was 99.9%, up 0.8 percentage points year over year. After excluding the impact of the individual credit guarantee insurance business, the underwriting combined loss ratio for non-motor insurance was 97.0%, down 2.1 percentage points year over year.