IBISWorld Platform
Answer any industry question in minutes with our entire database at your fingertips.
Life Insurance Providers in China Industry Data and Analysis
Over the five years through 2025, the Life Insurance Providers industry in China is expected to grow at an annualized 4.5%, to $610.1 billion. This trend includes an 8.3% increase in the current year. There are just 96 enterprises operating in the industry employing 1.3 million workers with an estimated payroll of $19.2 billion.In 2022, the COVID-19 in China further aggravated and real GDP growth slowdown to 3.0%. The consumption level and confidence of Chinese residents both decreased, which have resulted in weak demand for insurance products. The premium income of life insurance decreased by 3.2% in 2022, especially for accident insurance products, the premium income dropped by 17.9% year on year, mainly because residents were suggested to stay at home and reduce the number of trips.In 2018, the China Banking and Insurance Regulatory Commission was established through the merger of China Bank Regulatory Commission and China Insurance Regulatory Commission. The regulation on life insurance providers has been further enhanced. A series of supervision policies were issued successively. Industry revenue increased by just 0.6% in the year. In March 2023, the China Banking and Insurance Regulatory Commission was restructured into the National Financial Regulatory Administration to further increase the supervision on the industry.ACMR-IBISWorld forecasts that over the five years through 2030, with the increasing trend of aging, higher savings rate, strong policy support, and people's awareness of risk protection, revenue for the Life Insurance Providers industry in China is projected to grow at an annualized rate of 5.0% to $7778.1 billion in premium income. As more foreign players enter the market and competition intensifies, life insurance products will become more diversified and customized. Investment channels will broaden and investment income will account for a higher share of total revenue. Consequently, asset management will become a key success factor for insurance companies.
Access this data your way
The Life Insurance Providers in China Industry analysis is available in multiple formats to fit seamlessly into your workflow.
API Data Delivery
Feed trusted, human-driven industry intelligence straight into your platform.
Integrations
Streamline your workflow with IBISWorld’s intelligence built into your toolkit.
What's included in this industry analysis
IBISWorld's research coverage on the Life Insurance Providers industry in China includes market sizing, forecasting, data and analysis from 2015-2030. The most recent publication was released April 2025.
About this industry
What's this industry report about?
The Life Insurance Providers industry in China operates under the industry code 7010. The Life Insurance Providers industry in China comprises establishments primarily engaged in underwriting (i.e. assuming the risk and assigning premiums) annuity products, individual and group life insurance policies, health insurance policies and accidental death insurance policies. Related terms covered in the Life Insurance Providers industry in China include life insurance, annuity and bancassurance.
What's included in this industry?
Products and services covered in Life Insurance Providers industry in China include Life insurance, Health insurance and Accident insurance.
What companies are included in this industry?
Companies covered in the Life Insurance Providers industry in China include China Life Insurance Company Limited, Taikang Insurance Group Inc. and Ping An Insurance (Group) Company of China, Ltd.
Performance
What's included in the Performance chapter?
The Performance chapter covers detailed analysis, datasets, detailed current performance, sources of volatility and an outlook with forecasts for the Life Insurance Providers industry in China.
Questions answered in this chapter include what's driving current industry performance, what influences industry volatility, how do successful businesses overcome volatility, what's driving the industry outlook. This analysis is supported with data and statistics on industry revenues, costs, profits, businesses and employees.
Products & Markets
What's included in the Products and Markets chapter?
The Products and Markets chapter covers detailed products and service segmentation and analysis of major markets for the for the Life Insurance Providers industry in China.
Questions answered in this chapter include how are the industry's products and services performing, what are innovations in industry products and services, what products or services do successful businesses offer and what's influencing demand from the industry's markets. This includes data and statistics on industry revenues by product and service segmentation and major markets.
Geographic Breakdown
What's included in the Geographic Breakdown chapter?
The Geographic Breakdown chapter covers detailed analysis and datasets on regional performance of the Life Insurance Providers industry in China.
Questions answered in this chapter include where are industry businesses located and how do businesses use location to their advantage. This includes data and statistics on industry revenues by location.
Competitive Forces
What's included in the Competitive Forces chapter?
The Competitive Forces chapter covers the concentration, barriers to entry and supplier and buyer profiles in the Life Insurance Providers industry in China. This includes data and statistics on industry market share concentration, barriers to entry, substitute products and buyer & supplier power.
Questions answered in this chapter include what impacts the industry's market share concentration, how do successful businesses handle concentration, what challenges do potential industry entrants face, how can potential entrants overcome barriers to entry, what are substitutes for industry services, how do successful businesses compete with substitutes and what power do buyers and suppliers have over the industry and how do successful businesses manage buyer & supplier power.
Companies
What's included in the Companies chapter?
The Companies chapter covers Key Takeaways, Market Share and Companies in the Life Insurance Providers industry in China. This includes data and analysis on companies operating in the industry that hold a market share greater than 5%.
Questions answered in this chapter include what companies have a meaningful market share and how each company is performing.
External Environment
What's included in the External Environment chapter?
The External Environment chapter covers Key Takeaways, External Drivers, Regulation & Policy and Assistance in the Life Insurance Providers industry in China. This includes data and statistics on factors impacting industry revenue such as economic indicators, regulation, policy and assistance programs.
Questions answered in this chapter include what demographic and macroeconomic factors impact the industry, what regulations impact the industry, what assistance is available to this industry.
Financial Benchmarks
What's included in the Financial Benchmarks chapter?
The Financial Benchmarks chapter covers Key Takeaways, Cost Structure, Financial Ratios, Valuation Multiples and Key Ratios in the Life Insurance Providers industry in China. This includes financial data and statistics on industry performance including key cost inputs, profitability, key financial ratios and enterprise value multiples.
Questions answered in this chapter include what trends impact industry costs and how financial ratios have changed overtime.
Industry Data
What's included in the Industry Data chapter?
The Industry Data chapter includes 10 years of historical data with 5 years of forecast data covering statistics like revenue, industry value add, establishments, enterprises, employment and wages in the Life Insurance Providers industry in China.
Trusted by industry professionals
More than 6,000 businesses use IBISWorld to shape local and global economies
We were able to supplement our reports with IBISWorld’s information from both a qualitative and quantitative standpoint. All of our reporting now features some level of IBISWorld integration.
IBISWorld delivers the crisp business knowledge we need to drive our business. Whether it be serving up our major clients, winning new business or educating on industry issues, IBISWorld brings real value.
IBISWorld has revolutionised business information — which has proved commercially invaluable to exporters, investors and public policy professionals in Australia and overseas.
When you’re able to speak to clients and be knowledgeable about what they do and the state that they operate in, they’re going to trust you a lot more.
Frequently Asked Questions
What is the market size of the Life Insurance Providers industry in China in 2026?
The market size of the Life Insurance Providers industry in China is $610.1bn in 2026.
How many businesses are there in the Life Insurance Providers industry in China in 2025?
There are 96 businesses in the Life Insurance Providers industry in China, which has grown at a CAGR of 1.3 % between 2020 and 2025.
How may import tariffs affect the Life Insurance Providers industry in China?
The Life Insurance Providers industry in China is unlikely to be materially impacted by import tariffs with imports accounting for a low share of industry revenue.
How may export tariffs affect the Life Insurance Providers industry in China?
The Life Insurance Providers industry in China is unlikely to be materially impacted by export tariffs with exports accounting for a low share of industry revenue.
Has the Life Insurance Providers industry in China grown or declined over the past 5 years?
The market size of the Life Insurance Providers industry in China has been growing at a CAGR of 4.5 % between 2020 and 2025.
What is the forecast growth of the Life Insurance Providers industry in China over the next 5 years?
Over the next five years, the Life Insurance Providers industry in China is expected to grow.
What are the biggest companies in the Life Insurance Providers industry in China?
The biggest companies operating in the Life Insurance Providers industry in China are China Life Insurance Company Limited, Taikang Insurance Group Inc. and Ping An Insurance (Group) Company of China, Ltd.
What does the Life Insurance Providers industry in China include?
Life insurance and Health insurance are part of the Life Insurance Providers industry in China.
Which companies have the highest market share in the Life Insurance Providers industry in China?
The company holding the most market share in the Life Insurance Providers industry in China is China Life Insurance Company Limited.
How competitive is the Life Insurance Providers industry in China?
The level of competition is high and increasing in the Life Insurance Providers industry in China.
Cut through the noise with intelligence you can trust
