China’s Expansion of Tax-Exempt Health Insurance Program Has Limited Impact on Insurers
China recently announced expansion of the pilot program for tax-exempt commercial health insurance, which allows up to CNY 2,400 to be deducted from tax liability per person per year in the whole country starting from July 2017. There are five specialized health insurance companies, including Hexie Health, PICC Health, Ping An Health, Kunlun Health and CPIC Allianz Health. Hexie Health, PICC Health and Ping An Health are the three largest health insurers in China. Despite the hefty growth, all t...China Life Insurance is engaged in the writing of life insurance business and provision of life, annuities, accident and health insurance products to individuals and groups in the People's Republic of China. Co. also provides individual and group accident and short-term health insurance policies as well as services. Co.'s businesses are organized into four main segments: Individual life insurance, Group life insurance, Short-term insurance and Corporate and other business. As of Dec 31 2010, Co. had approximately 129 million individual and group life insurance policies and annuities and long-term health insurance policies in force.
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