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

Non-Life Insurance in China industry profile provides top-line qualitative and quantitative summary information including: market share, 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 non-life insurance market consists of the general insurance market segmented into motor, property, liability and other insurance. The other segment is made up of non-life insurance products including health, travel, and accident cover among others. The value of the non-life insurance market is shown in terms of gross premium incomes. Gross premium income is defined as the insurer’s premium income for the year from its policies, calculated without reduction for reinsurance premiums paid or payable by the insurer.
The Chinese non-life insurance market had total gross written premiums of $308.3bn in 2020, representing a compound annual growth rate (CAGR) of 12% between 2016 and 2020.
The motor segment was the market's most lucrative in 2020, with total gross written premiums of $176.6bn, equivalent to 57.3% of the market's overall value.
In recent years, China’s non-life insurance market has benefited from rising household incomes, rapid urban economic expansion, and an expanding middle class, as well as an increase in insurance penetration rates in the country.

Scope

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

Reasons to Buy

What was the size of the China automotive aftermarket market by value in 2020?
What will be the size of the China automotive aftermarket market in 2025?
What factors are affecting the strength of competition in the China automotive aftermarket market?
How has the market performed over the last five years?
Who are the top competitors in China's automotive aftermarket market?

Frequently Asked Questions about the Non-Life Insurance Market in China

What is the estimated value of the Non-Life Insurance Market in China?

The Non-Life Insurance Market in China was estimated to be valued at $308.34 Billion in 2020.

What is the growth rate of the Non-Life Insurance Market in China?

The growth rate of the Non-Life Insurance Market in China is 4.6%, with an estimated value of $386.48 Billion by 2025.

What is the forecasted size of the Non-Life Insurance Market in China?

The Non-Life Insurance Market in China is estimated to be worth $386.48 Billion by 2025.

Who are the key companies in the Non-Life Insurance Market in China?

Key companies in the Non-Life Insurance Market in China include The People's Insurance Company (Group) of China Ltd, Ping An Insurance (Group) Company of China, Ltd., China Pacific Insurance (Group) Co Ltd and China Life Insurance Co Ltd.

Report Attribute	Details
No. of Pages	48
Published	November 2021
Forecast Period	2020 - 2025
Estimated Market Value ( USD ) in 2020	$ 308.34 Billion
Forecasted Market Value ( USD ) by 2025	$ 386.48 Billion
Compound Annual Growth Rate	4.6%
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. How has the COVID - 19 outbreak impacted the market?

8 Company Profiles

8.1. The People's Insurance Company (Group) of China Ltd
8.2. Ping An Insurance (Group) Company of China, Ltd.
8.3. China Pacific Insurance (Group) Co Ltd
8.4. China 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 Publisher

List of Tables

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

List of Figures

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