China’s biggest life insurer is expected to launch a new online life insurance company according to domestic media reports.
China Life Insurance is currently preparing to launch an online life insurance company according to a report released by 21st Century Business Herald on 16 September.
The move would mark the debut of the first internet-based life insurance company in China.
China is currently host to four online property insurance companies – ZhongAn Online (众安在线), Taikang Online (泰康在线), Anxin Caixian (安心财险) and Yi’an Caixian (易安财险).
According to data from the Insurance Association of China these four online property insurers took in a total of 9.208 billion yuan in premium revenues in the first half of 2019, for YoY growth of 17.85%, and a deceleration of 63.60 percentage points compared to 2018.