PING AN LIFE AIMS FOR GREATER BANCASSURANCE FOCUS

Chinese insurer Ping An is looking to increase focus on bancassurance channels over the coming months. The country’s second largest life insurer achieves most of its premiums through individual insurance products and is actually behind third placed insurer China Pacific Life Insurance in terms of bancassurance business. According to a Sinocast report Ping An is aiming to double its bancassurance premiums next year. And the insurer has begun its endeavours already with July demonstrating its largest month-on-month growth in bancassurance business. Figures from the China Insurance Regulatory Commission indicate Ping An Life Insurance enjoyed premium income of Yuan53.9bn in the first half of this year, putting it in second place behind China Life Insurance.