China’s Insurance Intermediary Sector Shrinks Further
By Vincent Liu Liang | March 21, 2025
According to figures released on March 17th by the National Financial Supervision Administration (NFSA), the number of professional insurance intermediaries in China continued its downward trend in 2024. The official list for 2024 included 2,539 entities, representing a decrease of 27 from the 2023 figures. This decline marks the sixth consecutive year of contraction for the sector since 2019.
This ongoing trend suggests a significant restructuring within the Chinese insurance market. It’s important to consider the reasons behind this contraction, including market reforms and the increasing adoption of technology in the industry. The data from the NFSA provides a snapshot of ongoing changes within the financial sector, highlighting the need for businesses operating in the space to adapt and remain competitive.
This news is an important part of the larger story about finance sector developments in China.
