The Chinese insurance industry has experienced rapid expansion over the past decade, with annual life-insurance premiums growing from $10 billion in 1999 to $300 billion in 2013.
In addition to steadily increasing demand, two major supply-side trends have encouraged the development of the industry: the Chinese government lowered entry barriers to foreign insurers, allowing them to establish joint-venture insurance firms in China and domestic insurers strengthened themselves through initial public offerings and other market developments. China has over 100 insurance companies.
1.China Life Insurance Co Ltd
2.Ping An Life Insurance Company of Chinn
3.China Pacific Insurance (Group) Co Ltd
4.New China Life Insurance Co Ltd
5.Taikang Life Insurance Company Limited
6.Sino Life Insurance Co Ltd
7. China Taiping Insurance Group Ltd
8.AIA Group Ltd
9.CCB Life Insurance Co Ltd
10.Manulife-Sinochem Life Insurance Co Ltd
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 oneposition in 29 of the country’s 31 major markets.
Total Assets: $321.205 billion
Ping An Life Insurance Company of China
Ping An Life Insurance Company of China, Ltd. is a major subsidiary of Ping An Insurance (Group) Company of China, Ltd. It wasestablished 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.
Total Assets: $117.795 billion
China Pacific Insurance (Group) Co Ltd
China Pacific Insurance (Group) Co Ltd (“CPIC”) is an insurance group basically encompassing by China Pacific Insurance Company, acompany established on 13 May 1991. The head office of CPIC is located in Shanghai.
Total Assets: $117.795 billion
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 primarilyprovides 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
Taikang Life Insurance Company Limited
Taikang Life Insurance Company Limited is a Beijing-based, China-incorporated life insurance company. It is one of the largest in Chinaand 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
Sino Life Insurance Co Ltd
Sino Life Insurance Co Ltd, incorporated in 2002, is a nationwide professional life insurance company in China currently headquarteredin Shenzhen.
Total Assets: $31.888 billion
China Taiping Insurance Group 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
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
CCB Life Insurance Co Ltd
CCB Life Insurance Co Ltd, headquartered in Shanghai, is an insurance company and its principle shareholder is China ConstructionBank, one of China’s major banks.
Total Assets: $4.281 billion
Manulife-Sinochem Life Insurance Co Ltd
Manulife-Sinochem is a joint venture company between Manulife (International) Limited and Sinochem Finance Co Ltd (a member ofthe Sinochem Group). It was the first Chinese-foreign joint-venture life insurance company established in China.
Total Assets: $2.081 billion
In this way chinese insurance companies has rapid expansion over past decades. It’s demands are increasing more and more.