Insurance a growing policy

Increasing wealth and the government's reform of the social welfare system has seen a rise in insurance premiums, contributing to a robust industry growth.

At an annual minimal 10 per cent growth for the past several years, Chinese consumers last year alone bought 431.8 billion yuan in policies. With a rising number of foreign players and aggressive marketing by domestic giants, consumers have been bombarded with varying degrees of services and products to pick from.

The country has 88 insurers and 532 insurance agencies, as well as 1.3 million agents selling policies to an gradually growing urban community.