21:47, 19-Apr-2018
China Insurance Market: Life insurance brings in big bucks for foreign firms
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Foreign insurance companies took in a total of 214 billion yuan in revenue last year. That accounts for 6 percent of China's overall insurance market value. A data breakdown shows that 90 percent of the revenue came from life insurance businesses.
Analysts say those overseas companies have several advantages compared with their Chinese counterparts. They include better risk management, prudent investment strategy and a focus on value growth. But they also face daunting challenges, such as small customer bases and product localization.