The great Chinese insurance rush

Socio-economic and demographic factors push consumers and investors toward the protection business

Zhang Fanyi, a 35-year-old primary school teacher in Shanghai and mother of a five-year-old boy and an infant, recently spent 23,000 yuan ($3,480) on insurance policies for her family.

The investment was triggered by an incident. "One of my mother's close friends fell sick and she could barely afford the treatment, From then on, I was thinking about insurance. Also, as my children grow up, we'll travel frequently, so insurance is necessary," said Zhang.