Morgan Stanley expects Chinese insurers to experience solid growth in after-tax operating profit in the first quarter of 2026, but net profit growth may vary due to stock market volatility, with many insurers likely to see declines. New business value growth is anticipated to remain strong, especially for larger insurers, while property and casualty insurers are expected to achieve satisfactory combined ratios. Specific forecasts indicate significant declines in net profits for major insurers, except for CPIC, which may see slight growth due to a prudent investment strategy.
