Online property insurers growing rapidly in China

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The primary half of the yr noticed on-line property premiums in China develop at a a lot faster tempo.

Official knowledge revealed that premium earnings from on-line property insurance coverage gross sales jumped 37.29% year-on-year to Rmb32.64 billion (US$four.79 billion) within the first half of the yr. In accordance with the Insurance coverage Affiliation of China, the speed was 30.9% within the first quarter.

By class, online-only insurance coverage firms took a bigger share of the property insurance coverage market with 23.94% of the overall earnings from premiums earned by the nation’s 4 online-only insurers. That determine is 7.07 share factors greater than final yr.

In the meantime, 16 foreign-funded insurers additionally registered higher performances, taking 5.26% of the market, up from three.22% a yr in the past.

Auto insurance coverage premiums, which accounted for greater than 50% of the overall, expanded by 15.38% throughout the identical interval.

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