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Insurance companies of China

Having experienced rapid expansion and growth over the last decade the industry as a whole is still considered to be in its infancy even with a compound annual growth rate of 28-30% for the 2009-2013 period. FDI has played a major role in the development of the industry accounting for about half of the companies currently operating in the mainland. The market is mainly focused on two segments: auto and commercial property insurance however health insurance is becoming significantly more widespread along with emerging non-life insurance products like product liability, credit and marine insurance etc. Currently, auto insurance accounts for over 70% of the premium in the non-life insurance sector (please click here for KPMG`s latest outlook on auto sector insurance).



As a whole the industry is investing more in risk segmentation, new distribution, product innovation, and customer services. Sustained growth of the China non-life insurance market will be maintained over the next few years.


The list below comprises China`s top 10 Insures:


No.1 China Life Insurance Co Ltd

China Life Insurance Co Ltd is the largest life insurer in the People's Republic of China. The company offers individual life insurance, group life, accident insurance, and health insurance policies. China Life commands 45 percent of the market, and holds the number one position in 29 of the country's 31 major markets.

Total Assets: $321.205 billion


No.2 Ping An Life Insurance Company of China Ltd

Ping An Life Insurance Company of China, Ltd. is a major subsidiary of Ping An Insurance (Group) Company of China, Ltd. It was established in year 2002. For the past 10 years, Ping An Life has been growing rapidly as China's insurance industry has expanded, achieving a leading position in both scale and service quality. It is now the world's second-biggest life insurer by market value.

Total Assets: $117.795 billion


No.3 China Pacific Insurance (Group) Co Ltd

China Pacific Insurance (Group) Co Ltd ("CPIC") is an insurance group basically encompassing by China Pacific Insurance Company, a company established on 13 May 1991. The head office of CPIC is located in Shanghai.

Total Assets: $117.795 billion


No.4 New China Life Insurance Co Ltd

New China Life Insurance Co Ltd, headquartered in Beijing and founded in 1996, is an insurance company. The company primarily provides life insurance services. After the company went public in 2011, the total assets of the company reached 565.849 billion yuan.

Total Assets: $92.123 billion


No.5 Taikang Life Insurance Co Ltd

Taikang Life Insurance Company Limited is a Beijing-based, China-incorporated life insurance company. It is one of the largest in China and offers services ranging from life insurance to asset management. It was founded in 1996 and has branches in Beijing, Shanghai, Hubei, Shandong, and Guangdong.

Total Assets: $71.879 billion


No.6 Sino Life Insurance Co Ltd

Sino Life Insurance Co Ltd, incorporated in 2002, is a nationwide professional life insurance company in China currently headquartered in Shenzhen.

Total Assets: $31.888 billion


No.7 Taiping Life Insurance Co Ltd

China Taiping Insurance Group Ltd ("China Taiping") is a Chinese state-owned financial and insurance group whose management headquarters is located in Hong Kong. China Taiping is currently the longest standing national brand in China's insurance industry. It had already become an industry leader in the 1940s after its foundation in Shanghai in 1929.

Total Assets: $31.339 billion


No.8 AIA Group Ltd

The business that is now AIA was first established in Shanghai over 90 years ago. It is a market leader in the Asia-Pacific region, except for Japan, based on life insurance premiums, and holds a leading position across the majority of its markets.

Total Assets: $11,223 billion


No.9 CCB Life Insurance Co Ltd

CCB Life Insurance Co Ltd, headquartered in Shanghai, is an insurance company and its principle shareholder is China Construction Bank, one of China's major banks.

Total Assets:  $4.281 billion


No.10 Manulife-Sinochem Life Insurance Co Ltd

Manulife-Sinochem is a joint venture company between Manulife (International) Limited and Sinochem Finance Co Ltd (a member of the Sinochem Group). It was the first Chinese-foreign joint-venture life insurance company established in China.

Total Assets: $2.081 billion



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