Top 10 Insurers in China in 2021 by Written Premiums
Ping An Insurance (Group) Company of China Ltd, China Life Insurance Co Ltd, The People's Insurance Company (Group) of China Ltd, China Pacific Insurance (Group) Co Ltd, and China Taiping Insurance Holdings Co Ltd are the top 5 insurers in China in 2021 by written premiums. Cumulatively, the top 10 insurers in China reported written premiums of $502,156 million, the highest written premiums are reported by Ping An Insurance (Group) Company of China Ltd ($121,070 million), followed by China Life Insurance Co Ltd ($110,312 million) and The People's Insurance Company (Group) of China Ltd ($90,277 million), while Funde Sino Life Insurance Co., Ltd. ($12,521 million) stood the lowest. In terms of the geographical split, 9 out of the top 10 insurers are based in Asia, while the remaining company is based in Europe. They employed a total of 1,650,009 people in 2021. China-based Ping An Insurance (Group) Company of China Ltd is the leading insurer company in China in 2021 (FY 2021). It is an integrated financial conglomerate providing insurance, banking, and investment products and services to individuals and corporate clients. Ping An also provides personal and business banking, trust, wealth management, investment, securities brokerage, securities investment consulting, and securities trading services. The company reported written premiums of $121,070 million and generated revenue of $180,703 million. Ping An operates through seven business segments: Life and Health Insurance, Property and Casualty Insurance, Banking, Securities, Trust, Other Asset Management, and Technology Business, and employs 355,982 people. China Life Insurance Co Ltd is one of the leading insurer companies in China in 2021 (FY2021). It is a provider of insurance solutions and investment services. The company's portfolio of insurance products includes individual life insurance, group life insurance, individual accident insurance, individual health insurance, annuity insurance, travel insurance, and investment insurance. The company reported written premiums of $110,312 million and generated revenue of $132,966 million. China Life operates its provincial branches and other sub-branches in Taichung City, Taoyuan City, Chiayi City, Kaohsiung City, Tainan City, Taipei City, Hualien County, Pingtung County, and Penghu County, and employs 103,262 people in 2021.