Life Insurance in China - Market Summary, Competitive Analysis and Forecast to 2025

Life Insurance in China industry profile provides top-line qualitative and quantitative summary information including: market size (value 2016-20, and forecast to 2025). The profile also contains descriptions of the leading players including key financial metrics and analysis of competitive pressures within the market.

Key Highlights

The value of the life insurance market is shown in terms of gross premium incomes from mortality protection and retirement savings plans.
The Chinese life insurance market had total gross written premiums of $347.6bn in 2020, representing a compound annual growth rate (CAGR) of 8.3% between 2016 and 2020.
The Life Insurance segment was the market's most lucrative in 2020, with total gross written premiums of $326.0bn, equivalent to 93.8% of the market's overall value.
Growth in the Chinese market has been supported by the incorporation of new technologies into insurance companies’ product offerings, a trend which has been accelerated by the COVID-19 pandemic, as nationwide lockdowns and social distancing measures have restricted consumers’ ability to consult insurance firms in person.

Scope

Save time carrying out entry-level research by identifying the size, growth, major segments, and leading players in the life insurance market in China
Use the Five Forces analysis to determine the competitive intensity and therefore attractiveness of the life insurance market in China
Leading company profiles reveal details of key life insurance market players’ global operations and financial performance
Add weight to presentations and pitches by understanding the future growth prospects of the China life insurance market with five year forecasts

Reasons to Buy

What was the size of the China life insurance market by value in 2020?
What will be the size of the China life insurance market in 2025?
What factors are affecting the strength of competition in the China life insurance market?
How has the market performed over the last five years?
What are the main segments that make up China's life insurance market?

Frequently Asked Questions about the Chinese Life Insurance Market

What is the estimated value of the Chinese Life Insurance Market?

The Chinese Life Insurance Market was estimated to be valued at $347.56 Billion in 2020.

What is the growth rate of the Chinese Life Insurance Market?

The growth rate of the Chinese Life Insurance Market is 4.3%, with an estimated value of $429.31 Billion by 2025.

What is the forecasted size of the Chinese Life Insurance Market?

The Chinese Life Insurance Market is estimated to be worth $429.31 Billion by 2025.

Who are the key companies in the Chinese Life Insurance Market?

Key companies in the Chinese Life Insurance Market include China Life Insurance Co Ltd, Ping An Insurance (Group) Company of China, Ltd., China Pacific Insurance (Group) Co Ltd and Huaxia Life Insurance Co Ltd.

Report Attribute	Details
No. of Pages	46
Published	October 2021
Forecast Period	2020 - 2025
Estimated Market Value ( USD ) in 2020	$ 347.56 Billion
Forecasted Market Value ( USD ) by 2025	$ 429.31 Billion
Compound Annual Growth Rate	4.3%
Regions Covered	China

1 Executive Summary

1.1. Market value
1.2. Market value forecast
1.3. Category segmentation
1.4. Geography segmentation
1.5. Market share
1.6. Market rivalry
1.7. Competitive Landscape

2 Market Overview

2.1. Market definition
2.2. Market analysis

3 Market Data

3.1. Market value

4 Market Segmentation

4.1. Category segmentation
4.2. Geography segmentation

5 Market Outlook

5.1. Market value forecast

6 Five Forces Analysis

6.1. Summary
6.2. Buyer power
6.3. Supplier power
6.4. New entrants
6.5. Threat of substitutes
6.6. Degree of rivalry

7 Competitive Landscape

7.1. Market share
7.2. Who are the leading players?
7.3. What strategies do leading players follow?
7.4. What has been the rationale behind recent M&A activity?
7.5. Are any leading players currently facing problems?
7.6. How has the COVID-19 outbreak impacted leading players?

8 Company Profiles

8.1. China Life Insurance Co Ltd
8.2. Ping An Insurance (Group) Company of China, Ltd.
8.3. China Pacific Insurance (Group) Co Ltd
8.4. Huaxia Life Insurance Co Ltd

9 Macroeconomic Indicators

9.1. Country data

10 Appendix

10.1. Methodology
10.2. Industry associations
10.3. Related Research
10.4. About the Author

List of Tables

Table 1: China life insurance market value: $ billion, 2016-20
Table 2: China life insurance market category segmentation: $ billion, 2020
Table 3: China life insurance market geography segmentation: $ billion, 2020
Table 4: China life insurance market value forecast: $ billion, 2020-25
Table 5: China life insurance market share: % share, by value, 2020
Table 6: China Life Insurance Co Ltd: key facts
Table 7: China Life Insurance Co Ltd: Annual Financial Ratios
Table 8: China Life Insurance Co Ltd: Key Employees
Table 9: China Life Insurance Co Ltd: Key Employees Continued
Table 10: Ping An Insurance (Group) Company of China, Ltd.: key facts
Table 11: Ping An Insurance (Group) Company of China, Ltd.: Annual Financial Ratios
Table 12: Ping An Insurance (Group) Company of China, Ltd.: Key Employees
Table 13: China Pacific Insurance (Group) Co Ltd: key facts
Table 14: China Pacific Insurance (Group) Co Ltd: Annual Financial Ratios
Table 15: China Pacific Insurance (Group) Co Ltd: Key Employees
Table 16: China Pacific Insurance (Group) Co Ltd: Key Employees Continued
Table 17: Huaxia Life Insurance Co Ltd: key facts
Table 18: Huaxia Life Insurance Co Ltd: Key Employees
Table 19: China size of population (million), 2016-20
Table 20: China gdp (constant 2005 prices, $ billion), 2016-20
Table 21: China gdp (current prices, $ billion), 2016-20
Table 22: China inflation, 2016-20
Table 23: China consumer price index (absolute), 2016-20
Table 24: China exchange rate, 2016-20

List of Figures

Figure 1: China life insurance market value: $ billion, 2016-20
Figure 2: China life insurance market category segmentation: % share, by value, 2020
Figure 3: China life insurance market geography segmentation: % share, by value, 2020
Figure 4: China life insurance market value forecast: $ billion, 2020-25
Figure 5: Forces driving competition in the life insurance market in China, 2020
Figure 6: Drivers of buyer power in the life insurance market in China, 2020
Figure 7: Drivers of supplier power in the life insurance market in China, 2020
Figure 8: Factors influencing the likelihood of new entrants in the life insurance market in China, 2020
Figure 9: Factors influencing the threat of substitutes in the life insurance market in China, 2020
Figure 10: Drivers of degree of rivalry in the life insurance market in China, 2020
Figure 11: China life insurance market share: % share, by value, 2020