BUSINESS China's online property insurance premiums up 8 pct in 2021

BUSINESS

China's online property insurance premiums up 8 pct in 2021

Xinhua

20:56, May 13, 2022

BEIJING, May 13 (Xinhua) -- China's online property insurance sector saw steady growth in premiums last year, according to a report released by the Insurance Association of China.

The premiums of online property insurance hit 86.2 billion yuan (12.7 billion U.S. dollars) in 2021, up 8 percent year on year, 7 percentage points faster than the overall premium growth of the property insurance industry, according to the report.

File photo: Xinhua

In breakdown, accident and health insurance was the top earner in the online property insurance sector, with its premium income accounting for 34 percent of the total. It is followed by auto insurance, accounting for 26 percent of the total premium income of the sector.

Online property insurance has played an important role in promoting the growth of the property insurance industry.

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