Today in this article we will discuss about the Top 10 Largest Insurance Companies in China with PPT, PDF and Infographic and Ranked by Total Assets, Premium Income & Market Share 2025-2026 Data so, China has grown into one of the world’s largest and fastest-expanding insurance markets. Over the past two decades, the country’s insurance industry has transformed from a state-controlled sector into a competitive marketplace featuring both domestic giants and foreign players. Whether you are a business owner, an investor, or an individual looking for coverage, understanding the insurance industry in China is essential.
This comprehensive guide covers the top 10 largest insurance companies in China, explores the health insurance companies in China available to foreigners, examines credit insurance companies in China, travel insurance companies in China, and provides a broad overview of the China insurance market. We have also included details on life insurance companies in China, foreign insurance companies in China, and the People’s Insurance Company of China – one of the most iconic names in the industry.
Why China’s Insurance Market Matters?
China’s insurance industry has undergone a dramatic transformation over the past three decades – evolving from a state-controlled monopoly into one of the most competitive and technologically advanced insurance markets in the world. Today, the China insurance market ranks among the top three globally by total premium volume, alongside the United States and the United Kingdom.
Based on 2024–2025 data on revenue and total assets, here are the top 10 largest insurance companies in China. Ping An Insurance Group frequently serves as the market leader, followed by China Life Insurance and the People’s Insurance Company of China (PICC). It is reported that China Life Insurance holds over 300 million customer policies – making it one of the most far-reaching financial institutions on earth.
This article provides a complete list of insurance companies in China with verified financial data, market share analysis, and expert guidance on health insurance companies in China, life insurance companies in China, credit insurance companies in China, travel insurance companies in China, and options for foreigners – all in one place.
Top 10 Largest Insurance Companies in China 2026 (.PPTX)
Top 10 Largest Insurance Companies in China – Complete Ranking Table (2024–2025)
The following table ranks all 10 companies by total assets and annual premium income, giving you a clear side-by-side comparison of the biggest insurance companies in China:
| # | Company Name | Type | Total Assets (USD) | Annual Premium (USD) | Founded | Listed On |
| 1 | China Life Insurance | Life Insurance | ~$600 Billion | ~$130 Billion | 1949 | SSE / HKEx / NYSE |
| 2 | PICC Group | Property, Life, Health | ~$280 Billion | ~$80 Billion | 1949 | SSE / HKEx |
| 3 | Ping An Insurance | Life, Health, P&C, Fintech | ~$1.3 Trillion | ~$120 Billion | 1988 | SSE / HKEx |
| 4 | CPIC (China Pacific) | Life & Property | ~$220 Billion | ~$55 Billion | 1991 | SSE / HKEx |
| 5 | New China Life | Life Insurance | ~$130 Billion | ~$30 Billion | 1996 | SSE / HKEx |
| 6 | China Re Group | Reinsurance | ~$80 Billion | ~$20 Billion | 1996 | HKEx |
| 7 | Taiping Insurance | Life, P&C, Reinsurance | ~$70 Billion | ~$18 Billion | 1929 | HKEx |
| 8 | AXA Tianping | Property & Casualty | ~$10 Billion | ~$4 Billion | 2000 | Private |
| 9 | CITIC-Prudential Life | Life Insurance | ~$25 Billion | ~$5 Billion | 2000 | Private |
| 10 | Sunshine Insurance | Life, P&C, Health | ~$45 Billion | ~$10 Billion | 2005 | HKEx |
* All figures are approximate and based on publicly available 2023–2024 annual reports and financial disclosures. Exchange rates applied at ~7.1 CNY/USD.
2024 Financial Performance Overview
Here is a closer look at the 2024 financial performance of the top tier insurance companies in China. These figures are drawn from annual reports, Hong Kong Stock Exchange (HKEx) filings, and Shanghai Stock Exchange (SSE) disclosures:
| Company | Net Premium (USD) | Net Profit (USD) | Total Assets (USD) | Market Cap / Notes |
| China Life | ~$130B | ~$5.9B | ~$600B | Largest by premium volume |
| Ping An Group | ~$120B | ~$14B | ~$1.3T | Largest by total assets |
| PICC Group | ~$80B | ~$3.5B | ~$280B | #1 non-life insurer in China |
| CPIC | ~$55B | ~$2.1B | ~$220B | Strong bancassurance model |
| New China Life | ~$30B | ~$1.0B | ~$130B | Fast-growing annuity segment |
| China Re | ~$20B | ~$0.8B | ~$80B | Dominant domestic reinsurer |
Note: Ping An Insurance Group is the largest insurance company in China by total assets due to its integrated financial services model combining insurance, banking, and investment management.
China Insurance Market Share Analysis (2024)
Understanding the competitive landscape of the China insurance market requires looking at market share data across life and non-life segments. Here is a breakdown of the top insurance companies in China by estimated market share:
| Company | Life Insurance | Non-Life Insurance | Overall Market Share |
| China Life Insurance | ~20% | – | ~18% |
| Ping An Insurance | ~15% | ~10% | ~16% |
| PICC Group | ~5% | ~33% | ~14% |
| China Pacific (CPIC) | ~9% | ~8% | ~9% |
| New China Life | ~5% | – | ~4% |
| All Foreign Insurers Combined | ~8% | ~4% | ~6% |
Key insight: Domestic companies command over 90% of the China insurance market. Foreign insurance companies in China collectively hold approximately 6% – but this share is growing rapidly following 2020 market liberalization allowing 100% foreign ownership.
Key Market Trends in the China Insurance Industry (2024–2025)
1. Health Insurance Boom
Health Premium Surge: Ping An’s health profits rose 17.6% in 2023, driven by demand for supplementary health cover beyond China’s public system. Health insurance companies in China are now the fastest-growing segment within the overall market.
2. Technology-Driven Transformation (InsurTech)
Ping An Insurance is globally recognized for deploying artificial intelligence in claims processing, fraud detection, and customer service. ZhongAn Online P&C Insurance – China’s first internet-only insurer – processes over 1 billion policies annually through digital channels alone.
3. Aging Population Driving Life Insurance Demand
China’s rapidly aging population is accelerating demand for retirement annuities, long-term care insurance, and pension products. Life insurance companies in China are developing new product lines to address this structural demographic shift, with Taikang Life leading an innovative ecosystem combining life insurance with elderly care facilities.
4. Asset Growth Across the Board
Based on the top 10’s financial results for the reporting year 2023, Ping An reported the highest total assets at $1.3 trillion, followed by China Life at approximately $600 billion. This demonstrates the immense capital strength of the largest insurance companies in China.
5. Foreign Market Entry Acceleration
Following regulatory reform in 2020, multiple global insurers have expanded their footprint. AXA completed full acquisition of AXA Tianping in 2020. Allianz received approval for China’s first wholly foreign-owned insurance holding company. Prudential restructured CITIC-Prudential Life, and more foreign insurance companies in China are expected to follow.
Detailed Profiles: Top 10 Largest Insurance Companies in China (2025-2026)
#1. China Life Insurance Company Limited
Headquarters: Beijing | Founded: 1949 | Listed: SSE (601628) / HKEx (2628) / NYSE (LFC)
China Life Insurance Company is the largest life insurance company in China by premium income and policy count, serving over 300 million customers nationwide. It operates through an extensive distribution network of over 1 million agents spanning all 31 provinces and regions in China. The company’s product portfolio includes individual life insurance, group insurance, annuities, accident and health insurance, and investment-linked products.
China Life consistently ranks among the Fortune Global 500 companies and is regarded internationally as a benchmark for the Chinese insurance industry. Its premium income exceeded $130 billion in 2023, reinforcing its position at the very top of the list of insurance companies in China.
#2. People’s Insurance Company of China (PICC)
Headquarters: Beijing | Founded: 1949 | Listed: SSE (601319) / HKEx (1339)
The People’s Insurance Company of China is one of China’s oldest and most iconic financial institutions, founded in the same year as the People’s Republic. PICC Property and Casualty holds over 33% of the non-life insurance market in China – making it the undisputed leader in property and casualty coverage.
PICC Group operates through four main subsidiaries: PICC Property and Casualty, PICC Life Insurance, PICC Health Insurance, and PICC Asset Management. The group’s diversified structure makes it one of the most comprehensive insurance conglomerates in Asia.
#3. Ping An Insurance (Group) Company of China
Headquarters: Shenzhen | Founded: 1988 | Listed: SSE (601318) / HKEx (2318)
Ping An is the most technologically advanced and arguably the most valuable insurance company in China. With total assets exceeding $1.3 trillion, Ping An is also the largest insurance company in China by total assets. It consistently ranks in the Fortune Global 500 top 10 financial companies and is recognized globally as an InsurTech pioneer.
Ping An operates as an integrated financial ecosystem combining insurance (life, health, property), banking (Ping An Bank), and investment management (Ping An Asset Management). Its AI-powered platforms process billions of data points daily to deliver instant policy issuance, real-time claims assessment, and personalized financial advice.
#4. China Pacific Insurance Group (CPIC)
Headquarters: Shanghai | Founded: 1991 | Listed: SSE (601601) / HKEx (2601)
China Pacific Insurance Group (CPIC) is the third largest insurance group in China by total premium income. Through its two flagship subsidiaries – CPIC Life and CPIC Property and Casualty – the group serves tens of millions of customers with life, annuity, accident, health, motor, and corporate property insurance products.
CPIC is headquartered in Shanghai and has a particularly strong bancassurance distribution model, partnering with major Chinese banks to sell insurance through bank branches. This gives CPIC a significant competitive advantage in reaching urban middle-class consumers.
#5. New China Life Insurance Company Ltd.
Headquarters: Beijing | Founded: 1996 | Listed: SSE (601336) / HKEx (1336)
New China Life Insurance is among the key life insurance companies in China, specializing in individual life insurance, group insurance, accident insurance, and annuity products. The company has an agent workforce of over 300,000 and a presence in all major provinces. New China Life has been making significant investments in digital transformation to compete with the tech-driven models of Ping An.
#6. China Reinsurance (Group) Corporation
Headquarters: Beijing | Founded: 1996 | Listed: HKEx (1508)
China Re is the largest reinsurance company in China and one of the top reinsurers in Asia. As a state-owned enterprise, China Re plays a stabilizing role in the China insurance market by absorbing catastrophic risk from primary insurers. China Re also underwrites life reinsurance and operates internationally across Asia, Europe, and North America.
#7. Taiping Insurance Holdings Company Limited
Headquarters: Hong Kong / Beijing | Founded: 1929 | Listed: HKEx (966)
With nearly a century of history, Taiping Insurance is one of the oldest insurance companies in China. It offers a broad spectrum of products including life insurance, property insurance, reinsurance, and pension products, with operations across mainland China, Hong Kong, Macau, and Southeast Asia.
#8. AXA Tianping (Sinosafe General Insurance)
Headquarters: Shanghai | Founded: 2000 | Ownership: AXA Group (100% since 2020)
AXA Tianping is the most prominent foreign insurance company in China for property and casualty products. Since AXA Group completed full acquisition in 2020, it became China’s first wholly foreign-owned property insurance company. It offers motor insurance, home insurance, accident and health coverage, and travel insurance – widely regarded as one of the best travel insurance companies in China for foreigners.
#9. CITIC-Prudential Life Insurance Company Limited
Headquarters: Shanghai | Founded: 2000 | Ownership: CITIC Group + Prudential plc (Joint Venture)
CITIC-Prudential is among the most established foreign insurance companies in China for life insurance. As a joint venture between state-owned CITIC Group and UK-based Prudential plc, it benefits from both local market knowledge and global insurance expertise. CITIC-Prudential is particularly well known for providing health insurance in China for foreigners, with English-language service and international hospital network access.
#10. Sunshine Insurance Group Co., Ltd.
Headquarters: Beijing | Founded: 2005 | Listed: HKEx (6963)
Despite being one of the newer entrants to the market, Sunshine Insurance has achieved remarkable growth since its founding in 2005. The company is now listed on the Hong Kong Stock Exchange and operates across life insurance, property and casualty insurance, agriculture insurance, and health insurance. Sunshine Insurance’s rapid rise to prominence is a testament to the dynamism of the insurance industry in China.
Health Insurance in China for Foreigners – Complete Guide
One of the most searched topics by expats is health insurance in China for foreigners. While China has significantly expanded its public healthcare system, it often does not provide adequate coverage for foreign nationals – particularly for international-standard hospital care, specialist consultations, and medical evacuation.
Here is a comparison of the top health insurance companies in China that offer plans designed for foreigners:
| Insurer | Foreigner-Friendly | English Support | Int’l Network | Best For |
| Cigna China | Yes | Yes | Global | Expats & MNCs |
| AXA Tianping | Yes | Yes | Global | Short-term & travel |
| CITIC-Prudential | Yes | Partial | Regional | Long-term residents |
| Bupa Global | Yes | Yes | Global | Premium international cover |
| Ping An Health | Partial | Partial | Domestic | Locals & long-term visa |
| China Life Health | Partial | No | Domestic | Chinese nationals primarily |
Key tips when choosing health insurance in China for foreigners: Verify that your plan covers both inpatient and outpatient care at international hospitals. Look for emergency medical evacuation (medevac) coverage. Confirm that mental health and dental services are included. Ensure English-language claims support is available 24/7.
Travel Insurance Companies in China – Comparison Table
Travel insurance companies in China offer protection for both inbound visitors and Chinese travelers going abroad. Coverage typically includes emergency medical expenses, trip cancellation, lost baggage, flight delays, and personal accident protection.
| Provider | Medical Coverage | Trip Cancellation | Evacuation | Ideal For |
| Ping An Travel | Up to $500K | Yes | Yes | Chinese outbound travelers |
| AXA Tianping Travel | Up to $500K | Yes | Yes | Inbound & outbound |
| PICC Travel | Up to $300K | Yes | Yes | Budget travelers |
| ZA Insurance | Up to $200K | Yes | Limited | Young digital users |
| China Life Travel | Up to $300K | Yes | Yes | Domestic & outbound |
| Cigna Travel | Up to $1M+ | Yes | Yes | Business & premium travel |
Recommendation: For foreigners traveling to or within China, AXA Tianping Travel and Cigna Travel offer the most comprehensive international coverage. For Chinese travelers going abroad, Ping An Travel and PICC Travel are the most widely trusted options.
Credit Insurance Companies in China
Credit insurance companies in China protect businesses against the risk of non-payment by their buyers or trading partners. This is a critical segment supporting China’s vast domestic and export trade.
Sinosure (China Export and Credit Insurance Corporation) is the dominant player among credit insurance companies in China. As a state-owned enterprise backed by the Chinese government, Sinosure is mandated to support Chinese exporters and overseas investors through:
Short-term export credit insurance covering commercial and political risks on export receivables. Medium and long-term export credit insurance for large capital goods and construction projects. Overseas investment insurance protecting Chinese outbound investment against political risk. Domestic trade credit insurance for domestic business-to-business transactions.
Other credit insurance providers in China include PICC Credit Insurance, Ping An Credit Insurance, and several international firms such as Euler Hermes (Allianz), Coface, and Atradius, which operate as licensed foreign insurance companies in China.
Also read: Top 10 Largest Insurance Companies in India (2026) (.PPTX)
Foreign Insurance Companies in China – Market Entry & Opportunities
Foreign insurance companies in China have steadily grown their presence following China’s WTO accession in 2001 and the landmark 2020 regulatory reform that permits 100% foreign ownership. Here are the most prominent global insurers operating in China:
AXA (France) – Achieved full ownership of AXA Tianping in 2020; leading P&C foreign insurer in China. Allianz (Germany) – First 100% foreign-owned insurance holding company approved in China (2019). Zurich Insurance (Switzerland) – Operates through Zurich General Insurance Company China. Prudential (UK) – Through CITIC-Prudential Life joint venture and other entities. MetLife (USA) – Operates in life and health insurance segments. Manulife (Canada) – Joint venture with Sinochem for life insurance products. AIA Group – Wholly owned subsidiary offering life and health products in major cities.
Despite growing market access, foreign insurance companies in China face challenges including: intense price competition from state-backed domestic giants, complex and evolving regulatory requirements from the NFRA, cultural differences in insurance buying behavior, and limited rural distribution reach compared to domestic players.
How to Choose the Best Insurance Company in China
Whether you are a local resident, a small business owner, or a foreign national, here is a structured framework for choosing the best insurance companies in China for your needs:
- Step 1 – Define your coverage needs: Are you looking for life insurance, health insurance, property insurance, travel insurance, or credit insurance? Different companies excel in different segments.
- Step 2 – Check financial strength: Look at credit ratings from agencies such as AM Best, S&P, or Moody’s. For domestic ratings, check the NFRA’s published solvency data. The largest insurance companies in China all maintain strong solvency margins.
- Step 3 – Evaluate claims reputation: Read customer reviews on platforms such as Black Cat Complaint (黑猫投诉) and industry reports on claims settlement ratios. Fast, fair claims handling is the most important service quality indicator.
- Step 4 – Compare premiums and product terms: Use China’s national insurance comparison platforms or consult a licensed insurance broker to compare products across multiple insurers.
- Step 5 – Assess digital and service capabilities: Companies like Ping An offer fully digital policy management and AI-powered claims apps. For foreigners, prioritize companies with English-language support and international customer service centers.
FAQ:
Which is the No. 1 insurance company in China?
China Life Insurance is the No. 1 insurance company in China by total premium income and number of customers (over 300 million policies). Ping An Insurance Group holds the top position by total assets, exceeding $1.3 trillion. Both are among the largest insurance companies in China and consistently rank in the Fortune Global 500.
What are the top 3 insurance companies in China?
The top 3 insurance companies in China are: (1) China Life Insurance – largest by premiums; (2) Ping An Insurance Group – largest by assets; (3) People’s Insurance Company of China (PICC) – largest non-life insurer. These three dominate the China insurance market with a combined market share of approximately 48%.
Is health insurance mandatory for foreigners in China?
Health insurance is not legally mandatory for all foreigners in China, but it is strongly recommended. Without private health insurance in China for foreigners, costs at international hospitals can be extremely high. Many employers in China provide group health coverage for expatriate employees as part of standard compensation packages.
What is the largest insurance company in China by total assets?
Ping An Insurance Group is the largest insurance company in China by total assets, with assets exceeding $1.3 trillion. This reflects Ping An’s integrated financial services model that combines insurance with banking and asset management, resulting in a much larger balance sheet than pure-play insurers.
Can foreigners buy insurance from Chinese companies?
Yes, most of the largest insurance companies in China offer products available to foreigners with valid Chinese residency permits. However, for the best coverage tailored to international needs – including English-language service, global hospital networks, and medical evacuation – many expats choose health insurance companies in China with a foreign or international background, such as AXA Tianping, Cigna, Bupa, or CITIC-Prudential.
What is the best travel insurance for visiting China?
For foreigners visiting China, AXA Tianping Travel Insurance and Cigna Travel Insurance are widely considered the best travel insurance companies in China due to their high coverage limits, global hospital networks, English-language customer service, and reliable medical evacuation coverage. PICC Travel Insurance is a strong budget option.
Are foreign insurance companies allowed to operate in China?
Yes. Following China’s 2020 regulatory reform, foreign insurance companies in China are now permitted to operate as wholly foreign-owned enterprises without requiring a Chinese joint venture partner. Major players such as AXA, Allianz, Prudential, and Manulife have all expanded their presence under this new framework.
Conclusion
The insurance industry in China is a dynamic, rapidly evolving market that offers extraordinary opportunities for both domestic and foreign participants. The top 10 largest insurance companies in China – led by China Life Insurance, Ping An Insurance, and the People’s Insurance Company of China – collectively manage trillions of dollars in assets and serve hundreds of millions of customers.
Whether you are comparing the best insurance companies in China for personal coverage, researching health insurance companies in China for your family or employees, evaluating credit insurance companies in China to protect your trade receivables, or identifying foreign insurance companies in China for international-standard protection, this guide provides a comprehensive and data-backed starting point.
The China insurance market will continue to expand at a strong pace over the coming decade, driven by rising incomes, an aging population, government policy support, and technological innovation. Understanding who the biggest players are – and how they differ – is essential knowledge for anyone engaging with the Chinese economy.
Disclaimer
All financial figures are approximate, sourced from publicly available annual reports, stock exchange filings, and industry data for 2023-2024, 2025-2026. This article is for informational purposes only and does not constitute financial or insurance advice. Rankings may change as new data becomes available. Consult a licensed insurance professional before purchasing any insurance product.
