Foreign insurer in China:
AXA Tian Ping is the top joint venture P&C insurer in 2014 with premium income of CNY6.61 billion (US$1.06 billion), according to new data release by CIRC. This is 4.5 times more than the second insurer which registered CNY1.46 billion in premium income.
While the top foreign life insurer in 2014 goes to ICBC-AXA Life, with life premium income jumped 49.7% y-o-y to CNY15.4 billion (US$2.46 billion).
Local insurer in China:
PICC remained the top non-life insurer in 2014 with CNY252.42 billion (US$40.39 billion) in premium income, up 13.19% y-o-y. The top five remained unchanged from 2013. The other four consecutively are Ping An, CPIC, China Life, and China United.
The top life insurer in 2014 was China Life with premium income of CNY331.24 billion (US$52.97 billion), giving a growth of 1.38%,
On a separate headline, Anbang Insurance Group has received the approval from US regulators for the US$1.95 billion purchase of Waldorf Astoria Hotel in New York.
