Magazine date:
Nov 2014 According to Fitch Ratings, the Chinese insurance industry is doing well. The rating agency deems that despite the low penetration rate, strong growth in premium volumes has been noted.
In life insurance, and despite stiffer legislations, underwriting profits have continued to grow. In April 2014, the insurance commission required that long-term and low-risk products account at least for 20% of insurance sales.
Restrictions on certain death schemes were also imposed. In non life insurance, maintaining the level of vehicle sales, the increase in insurance penetration (excluding motor) and the expansion of distribution networks are supporting the activity of non life insurers.