Dajia Insurance’s premiums surpass 10 billion yuan in 2025, net profit soars by 439%.

Dajia Property & Casualty Insurance ushered in a "highlight moment" in its performance in 2025.

On January 27, Dajia Property & Casualty Insurance disclosed its solvency report for the fourth quarter of 2025. The company achieved a total premium income of 10.648 billion yuan for the year.

Alongside the scale breakthrough, Dajia Property & Casualty Insurance saw a substantial recovery in its profitability, with a cumulative net profit of 137 million yuan in 2025, representing a dramatic increase of 439% compared to the 25.46 million yuan in 2024.

The value of this performance report mainly lies in the underwriting side’s “turnaround from loss to profit.”

In the property insurance industry, a combined cost ratio of 100% is often seen as the “life or death line” for profitability. In 2024, Dajia Property & Casualty Insurance’s ratio was still as high as 102.99%, meaning that for every 100 yuan of premium income, the underwriting side spent almost 103 yuan;

By 2025, Dajia Property & Casualty Insurance forcefully reduced the combined cost ratio to 99.83%.

Although the profit margin is only a slim 0.17 percentage points, this signifies the insurer now possesses the ability to “generate blood” through its own business, rather than merely relying on investment income to subsidize underwriting losses.

Breaking down the cost structure, optimization of the claims ratio is key.

In 2025, Dajia Property & Casualty Insurance’s combined claims ratio dropped from 62.75% in the previous year to 61.03%, while the combined expense ratio was controlled at 38.81%. Amid a deepening auto insurance reform and intensifying competition in non-auto insurance, this cost control capability is especially noteworthy.

On the scale side, Dajia Property & Casualty Insurance did not slow down due to cost control.

The report shows that in 2025, Dajia Property & Casualty Insurance underwrote premiums totaling 10.573 billion yuan, of which auto insurance premiums amounted to 6.518 billion yuan, accounting for about 61.6%, continuing to serve as the company's ballast stone;

Non-auto insurance business has also shown improvement, with the top five non-auto insurance categories achieving a total underwritten premium of 1.823 billion yuan, a significant increase compared to the previous year.

However, on the flip side, the investment side’s performance was somewhat mediocre.

Under the dual pressure of a low interest rate environment and an “asset shortage,” Dajia Property & Casualty Insurance’s financial investment return rate for 2025 stood at 2.74%. Although it was a rebound from 2.01% in 2024, the overall investment return rate dropped from 3.92% to 2.71%.

This means that although its total assets have reached 15.14 billion yuan, there is still room to improve the efficiency of fund utilization. Given the slim profit margin on the underwriting side, investment performance will directly determine the company’s future profit ceiling.

Additionally, cash flow conditions still require continuous attention.

Although net cash flow from operating activities turned positive in Q4 2025, the cumulative net cash flow for the year was still -190 million yuan.

Although this is a substantial narrowing from -790 million yuan in 2024, the continued net outflow indicates that the company’s "reservoir" is still in a recovery phase.

For Dajia Property & Casualty Insurance, 2025 was undoubtedly the year of crossing the survival line;

But how to truly “get moving” the nearly 3 billion yuan in net assets that sits on the books in 2026, and achieve a “dual engine” of investment and underwriting, will be the core challenge for management in the coming period.

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