[London, November 2025] Axco Insurance Information (Axco) has released the latest publication of its non-life insurance market report for China, which provides comprehensive analysis of the country’s non-life (P&C) insurance market. The report offers exclusive insights, new statistics, and on-the-ground research into the sector’s evolving landscape. Key findings include:
Regulatory Changes: A development that will have far-reaching impact is Alignment of Filing and Practices. This tightening of practices was fully implemented for motor insurance in 2018 and for life insurance in 2023 and came into force from 1st November 2025 for most non-motor lines of business. Features of the regulation are standardization of pricing, requirements for filing of all wordings, endorsements and clauses with pricing, and strict control of intermediaries’ commissions and fees.
Moreover, a rule of cash-before-cover is to be adopted in the non-life market. This too came into effect on the 1st of November 2025. The main exceptions are agricultural insurance and export credit insurance.
Distribution Channels: While the NAFR does not publish distribution channel data, the report includes a breakdown for PICC Property for the last five years that may serve as a proxy for the market as a whole. According to these numbers, the largest distribution channel for non-life in 2024 was direct (including telemarketing, direct handling, internet, and branch) with 31.3% of business. Individual agents oversaw 30.8%, full-time insurance agencies made up 24.4% with the rest including insurance brokers and appointed representatives (including banks).
Market Growth: According to NAFR figures for 2024, non-life insurance premiums grew by 6.4% to CNY 1.69trn (USD 234.9bn). This figure includes CNY 257.7bn (USD 35.82bn) of healthcare and accident insurance written by non-life insurers. Non-life insurance penetration in 2024 (excluding accident and health) was 1.06% of GDP, equivalent to around USD 140 per capita.
Axco’s China non-life report draws on extensive primary and secondary research, including field visits conducted by our experts. It is an essential resource for insurance professionals seeking to stay ahead in the Chinese insurance market. Visit https://www.axcoinfo.com/products/insurance-market-reports-non-life/ for more details and report contents.
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