Top 10 General Insurers in China in 2021 by Written Premiums
The People's Insurance Company (Group) of China Ltd, Ping An Insurance (Group) Company of China Ltd, China Pacific Insurance (Group) Co Ltd, China Life Insurance Co Ltd, and China United Insurance Group Company Limited are the top 5 general insurers in China in 2021 by written premiums. Cumulatively, the top 10 general insurers in China reported written premiums of $183,681 million, where the highest written premiums were generated by The People's Insurance Company (Group) of China Ltd ($69,706 million), followed by Ping An Insurance (Group) Company of China Ltd ($45,044 million), while Yong An Property Insurance Co Ltd ($1,701 million) stood the lowest. They employed a total of 871,540 people in 2021. China-based The People's Insurance Company (Group) of China Ltd is the leading general insurer in China (by written premiums). The company reported revenues of $92,221 million for the fiscal year ended December 2021 (FY2021), an increase of 1.8% over FY2020. It is a state-owned insurance company. It offers a range of life and non-life insurance products. The group provides insurance products for an accident, universal life, general life, family property, travel, auto, health, personal credit loan guarantee, and performance guarantee. The company reported written premiums of $62,604 million in the year 2020 and employs 184,364 people. Ping An Insurance (Group) Company of China Ltd is one of the leading general insurers in China (by written premiums). The company reported revenues of $180,703 million for the fiscal year ended December 2021 (FY2021), a decrease of 3.53% over FY2020. The company is an integrated financial conglomerate providing insurance, banking, and investment products and services to individuals and corporate clients. The company reported written premiums of $43,844 million in the year 2020. As of December 31, 2021, it had 647.32 million internet users, 227.31 million retail customers, and 2.81 contracts per customer and employs 355,982 people.