Insurance Companies: Over the past decade, China’s insurance market has experienced exponential expansion; annual life-insurance premiums increased from $10 billion in 1999 to $300 billion by 2013.
China has eased entry barriers for foreign insurers to set up joint-venture insurance firms in China, while domestic insurers strengthened themselves through initial public offerings and other market developments – two major supply-side trends which, combined with rising demand, have contributed significantly to industry expansion.
Here Are China’s Top Ten Insurance Companies
1. China Life Insurance Company Limited
China Life Insurance Co Ltd is the People’s Republic of China’s premier life insurer, offering individual life, group life, accident, and health products. They hold 45 percent market share across 29 of China’s 31 main markets – thus becoming its market leader.
Assets totaling $321.205 billion
2. China Ping An Life Insurance Company
China Ping An Life Insurance Company Whilst Ping An Insurance (Group) Company of China Ltd was established in 2002, Ping An Life has seen impressive growth over time with China’s insurance market expanding and now holds a leading position both in terms of service quality and scale.
Assets totaling $117.795 billion
3. China Pacific Insurance (Group) Co LTD Is A Chinese Insurance Company
China Pacific Insurance (Group) Co Ltd (“CPIC”) is a Chinese insurance group founded on May 13, 1991 with its main branch based out of Shanghai.
Assets totaling $117.795 billion
4. New China Life Insurance Company Limited
New China Life Insurance Co Ltd, founded in Beijing in 1996, primarily offers life insurance products and has amassed assets totalling 565.849 billion yuan since going public in 2011. At that point in time it had total assets totaling $92.123 billion.
Assets totaling $92.123 billion
5. Taikang Life Insurance Company Limited Is A Company That Provides Life Insurance In Taiwan
Taikang Life Insurance Business Limited was established in Beijing, China, and currently ranks as China’s largest life and asset insurance provider. Established in 1996, it boasts offices across Beijing, Shanghai, Hubei, Shandong and Guangdong provinces.
Assets totaling $71.879 billion
6. Sino Life Insurance Company Limited
Established in 2002, Sino Life Insurance is a Chinese countrywide professional life insurer with total assets exceeding $31.188 billion and headquarters located in Shenzhen.
Assets totaling $31.888 billion
7. China Taiping Insurance Group LTD Is A Chinese Insurance Company
China Taiping Insurance Group Ltd (“China Taiping”) is a Chinese state-owned banking and insurance group headquartered in Hong Kong, with roots dating back to 1929 in Shanghai where they established themselves as industry leaders by the 1940s.
Assets totaling $31.339 billion
8. The AIA Group LTD
AIA, which today operates from Shanghai, was established nearly ninety years ago and dominates most Asian-Pacific life insurance premium markets except Japan.
Assets totaling $11,223 billion
9. CCB Life Insurance Company Limited
Based out of Shanghai, CCB Life is an insurance firm owned by China ConstructionBank – one of China’s biggest banks – with assets totalling an impressive $4.481 billion.
Assets totaling $4.281 billion
10. Manulife-Sinochem Life Insurance Company, Inc.
Manulife-Sinochem Life Insurance Company, Inc. Manulife-Sinochem was formed through a joint venture partnership between Manulife (International) Limited and Sinochem Finance Co Ltd (which forms part of Sinochem Group) as China’s inaugural Chinese-foreign joint-venture life insurer.
Assets totaling $2.081 billion
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