Ping An Insurance , Asia ’s First -largest insurer by market value, posted a 20% rise in annual net profit last year . Life insurance generated 23% of earnings and protecting homes and drivers a further 23% . 21:21 IST The group’s robust performance reflects the wider insurance sector; according to China ’s insurance regulator, Chinese insurers pulled in ¥ 2.4tn ($ 370bn ) of premiums in 2015 , up 20% YoY and listed groups have reported a 38% YoY jump in premium income in January . This trend looks set to continue as China ’s growing middle class demands more protection insurance.
Ping An Insurance , Asia ’s First -largest insurer by market value, posted a 20% rise in annual net profit last year . Life insurance generated 23% of earnings and protecting homes and drivers a further 23% . The group’s robust performance reflects the wider insurance sector; according to China ’s insurance regulator, Chinese insurers pulled in ¥ 2.4tn ($ 370bn ) of premiums in 2015 , up 20% YoY and listed groups have reported a 38% YoY jump in premium income in January . This trend looks set to continue as China ’s growing middle class demands more protection insurance.