Firms rush to invest in hot sector

Focus is on private health insurance as some Chinese increase spending

Gaming firms, real-estate companies and drug makers in China are chasing what they hope will be the country's next hot commodity: private health insurance.

At least 29 publicly traded Chinese companies have announced plans to invest in commercial insurance businesses since 2015, according to a report from researcher VC Beat and corporate statements. The new ventures are focused partly, or entirely, on health insurance, an area where affluent Chinese families are ramping up spending.