2021 life insurance opening sales and motor reforms hit major insurers’ premiums

The life insurance business of five major listed insurance companies in China collected a total of CNY1.4tn ($212bn) in premiums for the first 10 months of the year, representing an increase of 3.56% over the corresponding period last year. This was lower than the 3.91% growth rate reported for life business of the five insurers for the first three quarters of the year.