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Insurance Brokers & Adjusters in China Industry Data and Analysis
The development of China's Insurance Brokers and Adjusters industry is basically in line with its developing insurance sector. Over the five years through 2024, the industry will decrease at an annualized 5.8% to $52.2 billion. This trend includes a 9.9% decrease in 2024.Since August 2023, the National Financial Regulatory Administration has required to implement the “consistency of regulatory reporting and actual actions” policy in the channels of individual insurance agents, insurance brokers and insurance agents. The implementation of the policy has led to a decrease in commission rates paid by insurance companies to intermediaries, which has seriously affected industry revenue and operational costs. Industry revenue decreased by 11.3% in 2023 and a further 9.9% in 2024.In 2022, the COVID-19 pandemic further aggravated the economy, resulting in real GDP growth slowing to 3.0%. Chinese residents' income growth has also slowed down, resulting in weakened insurance demand. Insurance premium income decreased by 1.0% in 2022, especially for life insurance products; its premium income dropped 2.0% year on year, mainly because residents were suggested to stay at home and limit traveling. Industry revenue decreased by 13.2% in 2022.In 2018, the China Banking and Insurance Regulatory Commission was established through the merger of the China Bank Regulatory Commission and the China Insurance Regulatory Commission. Regulations placed on insurance intermediaries has intensified through a successive series of supervision policies. This increased regulation led industry revenue growth to slow down.China's Insurance Brokers and Adjusters industry revenue us forecast to grow at an annualized 5.0% to $66.5 billion over the five years through 2029, primarily thanks to increasing residential income levels risk protection awareness. As government regulations further strengthen and competition intensifies, professional insurance intermediaries will become more competitive. Concurrent-business agency and individual agent numbers will likely drop in the future.
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What's included in this industry analysis
IBISWorld's research coverage on the Insurance Brokers & Adjusters industry in China includes market sizing, forecasting, data and analysis from 2015-2030. The most recent publication was released May 2025.
About this industry
What's this industry report about?
The Insurance Brokers & Adjusters industry in China operates under the industry code 7030. Insurance brokers and adjusters in China provide insurance assessments, adjustments, supervision and consulting. Related terms covered in the Insurance Brokers & Adjusters industry in China include life insurance, property insurance, actuary services and national financial regulatory administration.
What's included in this industry?
Products and services covered in Insurance Brokers & Adjusters industry in China include Agent services provided by insurance salespeople, Agent services provided by concurrent-business agencies and Agent services provided by professional agencies.
What companies are included in this industry?
Companies covered in the Insurance Brokers & Adjusters industry in China include Ant Insurance Agency Limited, Mingya Insurance Brokers Co., Ltd. and Datong Insurance Sales & Service Co., Ltd.
Performance
What's included in the Performance chapter?
The Performance chapter covers detailed analysis, datasets, detailed current performance, sources of volatility and an outlook with forecasts for the Insurance Brokers & Adjusters industry in China.
Questions answered in this chapter include what's driving current industry performance, what influences industry volatility, how do successful businesses overcome volatility, what's driving the industry outlook. This analysis is supported with data and statistics on industry revenues, costs, profits, businesses and employees.
Products & Markets
What's included in the Products and Markets chapter?
The Products and Markets chapter covers detailed products and service segmentation and analysis of major markets for the for the Insurance Brokers & Adjusters industry in China.
Questions answered in this chapter include how are the industry's products and services performing, what are innovations in industry products and services, what products or services do successful businesses offer and what's influencing demand from the industry's markets. This includes data and statistics on industry revenues by product and service segmentation and major markets.
Geographic Breakdown
What's included in the Geographic Breakdown chapter?
The Geographic Breakdown chapter covers detailed analysis and datasets on regional performance of the Insurance Brokers & Adjusters industry in China.
Questions answered in this chapter include where are industry businesses located and how do businesses use location to their advantage. This includes data and statistics on industry revenues by location.
Competitive Forces
What's included in the Competitive Forces chapter?
The Competitive Forces chapter covers the concentration, barriers to entry and supplier and buyer profiles in the Insurance Brokers & Adjusters industry in China. This includes data and statistics on industry market share concentration, barriers to entry, substitute products and buyer & supplier power.
Questions answered in this chapter include what impacts the industry's market share concentration, how do successful businesses handle concentration, what challenges do potential industry entrants face, how can potential entrants overcome barriers to entry, what are substitutes for industry services, how do successful businesses compete with substitutes and what power do buyers and suppliers have over the industry and how do successful businesses manage buyer & supplier power.
Companies
What's included in the Companies chapter?
The Companies chapter covers Key Takeaways, Market Share and Companies in the Insurance Brokers & Adjusters industry in China. This includes data and analysis on companies operating in the industry that hold a market share greater than 5%.
Questions answered in this chapter include what companies have a meaningful market share and how each company is performing.
External Environment
What's included in the External Environment chapter?
The External Environment chapter covers Key Takeaways, External Drivers, Regulation & Policy and Assistance in the Insurance Brokers & Adjusters industry in China. This includes data and statistics on factors impacting industry revenue such as economic indicators, regulation, policy and assistance programs.
Questions answered in this chapter include what demographic and macroeconomic factors impact the industry, what regulations impact the industry, what assistance is available to this industry.
Financial Benchmarks
What's included in the Financial Benchmarks chapter?
The Financial Benchmarks chapter covers Key Takeaways, Cost Structure, Financial Ratios, Valuation Multiples and Key Ratios in the Insurance Brokers & Adjusters industry in China. This includes financial data and statistics on industry performance including key cost inputs, profitability, key financial ratios and enterprise value multiples.
Questions answered in this chapter include what trends impact industry costs and how financial ratios have changed overtime.
Industry Data
What's included in the Industry Data chapter?
The Industry Data chapter includes 10 years of historical data with 5 years of forecast data covering statistics like revenue, industry value add, establishments, enterprises, employment and wages in the Insurance Brokers & Adjusters industry in China.
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Frequently Asked Questions
What is the market size of the Insurance Brokers & Adjusters industry in China in 2026?
The market size of the Insurance Brokers & Adjusters industry in China is $52.2bn in 2026.
How many businesses are there in the Insurance Brokers & Adjusters industry in China in 2025?
There are 2,534 businesses in the Insurance Brokers & Adjusters industry in China, which has declined at a CAGR of 0.8 % between 2020 and 2025.
How may import tariffs affect the Insurance Brokers & Adjusters industry in China?
The Insurance Brokers & Adjusters industry in China is unlikely to be materially impacted by import tariffs with imports accounting for a low share of industry revenue.
How may export tariffs affect the Insurance Brokers & Adjusters industry in China?
The Insurance Brokers & Adjusters industry in China is unlikely to be materially impacted by export tariffs with exports accounting for a low share of industry revenue.
Has the Insurance Brokers & Adjusters industry in China grown or declined over the past 5 years?
The market size of the Insurance Brokers & Adjusters industry in China has been declining at a CAGR of 5.8 % between 2020 and 2025.
What is the forecast growth of the Insurance Brokers & Adjusters industry in China over the next 5 years?
Over the next five years, the Insurance Brokers & Adjusters industry in China is expected to grow.
What are the biggest companies in the Insurance Brokers & Adjusters industry in China?
The biggest companies operating in the Insurance Brokers & Adjusters industry in China are Ant Insurance Agency Limited, Mingya Insurance Brokers Co., Ltd. and Datong Insurance Sales & Service Co., Ltd.
What does the Insurance Brokers & Adjusters industry in China include?
Agent services provided by insurance salespeople and Agent services provided by concurrent-business agencies are part of the Insurance Brokers & Adjusters industry in China.
Which companies have the highest market share in the Insurance Brokers & Adjusters industry in China?
The company holding the most market share in the Insurance Brokers & Adjusters industry in China is Ant Insurance Agency Limited.
How competitive is the Insurance Brokers & Adjusters industry in China?
The level of competition is high and increasing in the Insurance Brokers & Adjusters industry in China.
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