China's online property insurance premium shrinks 2.73% in H1

BEIJING - China's online property insurance premium was 37.11 billion yuan ($5.43 billion) in the first half of the year (H1), down 2.73 percent year-on-year, according to the Insurance Association of China.

The total number of insurance policies underwritten was 13.46 billion, up 5.53 percent year-on-year.

Of the total H1 premium, the online auto insurance premium stood at 11.17 billion yuan, down 24.34 percent year-on-year. The premium from non-auto insurance sales online hit 25.94 billion yuan, up 10.92 percent year-on-year.

The online short-term health insurance business has grown rapidly and become the largest type of insurance premium.

Due to the COVID-19 epidemic, consumers are paying more attention to health risks, and the premium of accidental health insurance reached 15.53 billion yuan in H1, up 35.76 percent year-on-year, according to the association.