Market Size of China Property & Casualty Insurance Industry
| Study Period | 2019 - 2028 |
| Base Year For Estimation | 2021 |
| Forecast Data Period | 2024 - 2028 |
| Historical Data Period | 2019 - 2020 |
| CAGR | 7.94 % |
Major Players
*Disclaimer: Major Players sorted in no particular order |
Need a report that reflects how COVID-19 has impacted this market and its growth?
China Property & Casualty Insurance Market Analysis
In China, Insurance companies are either licensed for life or non-life business but not for both until 2003. Post that, the non-life insurers can write personal insurance and short-term health insurance. Under the non-life insurance business, the ‘basic’ insurance types, as classified by the regulator, include motor, property, engineering, liability, marine insurance are covered under the property and casualty insurance types in the study.
According to China Insurance Regulatory Commission, the original insurance premium income of property insurance business was 1.077 trillion yuan in 2018, an increase of 9.51% year-on-year. For the FY 2019 till May, the biggest line/type of property & casualty insurance in terms of total premiums accumulated in the current year so far is motor (60.2%) followed by liability, enterprise property, engineering and home insurance.
