Chinese online property premiums dropped to $12.2b in 2020

Underwritten insurance contracts also went down over the course of last year.

Chinese online property insurers saw their premiums decline 4.85% YoY to $12.2b (CNY79.8b) in 2020, Xinhua News Agency has reported.

The industry had underwritten a total of about 28 billion insurance contracts as of the end of 2020, 0.92% lower than in 2019.

Data from the Insurance Association showed that accident and health insurance, car insurance and insurance for shipping returned goods were the top three earners last year, with aggregated premiums accounting for 82.3% of the total.