The life insurance sector in China has been growing rapidly in recent years with an increasing number of companies offering a wide range of products. However, with so many companies to choose from, it can be difficult to know which one is the best for you.
To help you make a decision, we have compiled a list of the top 5 life insurance companies in China.
List Of The Top 5 Best Life Insurance Companies In China
#1. Ping An Insurance (Group) Of China Ltd.
ing An of China was established in 1988, and its IPO took place in 2004. The company started out as a property and casualty insurance provider but has subsequently grown into the banking, wealth management, life insurance, and online financial services industries with the stated objective of becoming a full-service provider of financial services.
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#2. China Life Insurance (Group) Company
China Life Insurance Co., Ltd. is the second-largest firm in China in terms of net non-banking assets and net premiums written for 2020, with a market valuation of around $103.9 billion (as of July 2022). According to A.M. Best, China Life’s 9 NPW are $111.2 billion.
#3. People’s Insurance Company Of China Group
The People’s Insurance Company of China Group was founded in 1949. 12 As of July 2022, the corporation had NPW of $79.6 billion and a market capitalization of $226.6 billion. The group’s primary business activities include property insurance, reinsurance, health insurance, life insurance, pension insurance, commercial property, agricultural policies, and operational insurance.
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#4. China Pacific Insurance (Group) Company Ltd.
In addition to selling life, property, and reinsurance products, the China Pacific Insurance Group also provides asset management and investment services. A.M. Best estimates the company’s NPW at $51.7 billion. As of December 31, 2021, China Pacific employed 107,000 people, with close to 60% having marketing experience.
#5. New China Life Insurance
New China Life Insurance Company in china is still a business worth paying attention to even though it is no longer among the top five. Although the company was founded in 1996 with life insurance as its major focus, it also has expanding commercial interests in the investing and healthcare sectors. Market capitalization for New China Life Insurance is $80.8 billion.
The 5 life insurance companies in China are Ping An Insurance, China Life Insurance, China Pacific Insurance, New China Life Insurance, and People’s Insurance Company. These companies have been chosen based on their financial stability, customer satisfaction ratings, and coverage options. Each company offers a unique set of life insurance products and services, so it is important to compare them before choosing a policy.