Source: asiainsurancereview.com

In January, the insurance industry achieved gross premium income of CNY1.01tn ($155bn), a year-on-year increase of 11.16%, according to data released by the CBIRC.

Of the total, the gross premium income of life insurance companies was CNY851.5bn, a year-on-year jump of 13.49%. Life insurance business accounted for the lion’s share of 87% of total premiums in the insurance industry.

Property insurance companies generated premiums of CNY157.9bn in January 2021, a year-on-year increase of 0.13% which represented flat growth.

With mass vaccination exercises being carried out against COVID-19, the insurance industry in China is expected to take off this year.