Slowing growth

After decades of double-digit growth, Chinese insurance is showing signs of slowdown. In 2012, the market’s turnover reached 247 billion USD, an increase of 8% compared to 2011. This increase is well below the 20% annual growth reported during the last twenty years. Affected by a hardly dynamic external environment, Chinese insurers have not much innovated. Unattractive products and inefficient distribution channels are also behind this decline. With a growth of only 2.4% in 2012, life insurance has clearly slowed down.