China's online personal insurance premiums up 13.6% in 2020

BEIJING - China's online personal insurance market registered steady growth in 2020, with premiums rising 13.6 percent year on year, industry data showed.

The premiums of online personal insurance totaled 211.08 billion yuan (about $32.54 billion) last year, according to the Insurance Association of China.

Specifically, health insurance saw the fastest growth in premiums, surging 58.8 percent from 2019 to 37.48 billion yuan.

The premiums of annuity insurance grew 38.8 percent, while those of life insurance dropped 3.2 percent compared with that in 2019, the association said.