News China27 Feb 2026

Pet insurance in China is a blue ocean market facing growing pains

| 27 Feb 2026

China's pet insurance business has seen leapfrog development. Pet insurance premiums skyrocketed from a modest CNY50m ($7.3m) in 2020 to CNY1.7bn in 2024. This momentum is estimated to have culminated in a record-breaking CNY3bn in 2025, a 76.47% year-on-year increase.

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