News Regional04 Oct 2018

China:Guangdong is biggest insurance market for Jan-Aug period

| 04 Oct 2018

Guangdong is ranked the biggest insurance market in China for the first eight months of this year, in terms of premiums, according to data from the CBIRC.

In the first seven months of this year, Jiangsu occupied the top position in terms of premium income, but the gap between it and then second-placed Guangdong was less than CNY800m ($116m).

By the end of August, Guangdong had caught up with and surpassed Jiangsu, with a premium income of CNY244.76bn, about CNY1.53bn more than in Jiangsu.

For the first eight months of this year, the top 10 markets in China were: Guangdong, Jiangsu, Shandong, Henan, Sichuan, Zhejiang, Hebei, Beijing, Hubei, and Shanghai.

These 10 provinces and municipalities posted combined premiums of CNY1.58trn. This volume accounted for 57.6% of total premiums of CNY2.75trn. The proportion was about 1.63 percentage points lower than the 59.25% in the same period last year.

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