Study on the Performance of Banking Insurers and Their Transformation Strategies Under the New Standard

Lu Pan ()
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Lu Pan: Shanghai Lixin University of Accounting and Finance, School of Accounting

A chapter in Proceedings of the 2025 International Conference on Financial Innovation and Marketing Management (FIMM 2025), 2025, pp 101-109 from Springer

Abstract: Abstract The implementation of new accounting standards has become a key change in the development process of bank-based insurance companies as the regulatory and standardization requirements of the financial industry continue to improve. Driven by the new accounting standards, the business model and financial accounting system of bank-based insurance enterprises are facing deep adjustments. Against this background, 10 bank-based insurers realized a net profit of nearly 10 billion yuan in 2024, a change from the loss in 2023, but the net assets of some insurers showed a rapid shrinkage. The new accounting standards have redefined the definition of contract, revenue recognition and classification of financial assets for insurance companies, resulting in significant changes in measurement methods and financial indicators for bank-based insurers. The rebound of net profit and the decrease in net assets reflect the opportunities and challenges faced by insurers under the implementation of the new accounting standards. Based on this, this paper analyzes the changes in measurement methods and financial indicators of insurers under the new standard and explores the impact of the new standard on the financial position and operating results of enterprises. This paper provides suggestions for unlisted insurers to cope with the changes in the new standard and promote the healthy transformation of the industry.

Keywords: New Accounting Standards; Insurance Companies; Impact and Response (search for similar items in EconPapers)
Date: 2025
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DOI: 10.2991/978-94-6463-874-5_14

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