Only 40 million Chinese have a long-term savings insurance

The China Insurance Regulatory Commission (CIRC) has reported that only 40 million Chinese, out of a population of 1.4 billion people, are holder of a life savings insurance policy.

To date, the number of insurance policies (all classes of business included) registered in China amounts to 1.4 billion.

According to CIRC, this figure remains insufficient and hardly favorable to the development of the sector especially that the majority of these contracts are short-term insurance policies.

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