China's online property insurance premiums down 4.85% in 2020

BEIJING - China's online property insurance industry saw a decline in earnings last year, industry data showed.

The premiums of online property insurance dropped 4.85 percent year-on-year to about 79.8 billion yuan ($12.2 billion) in 2020, according to the Insurance Association of China.

Accident and health insurance, car insurance and insurance for shipping returned goods were the top three earners last year, with aggregated premiums accounting for 82.3 percent of the total.

The industry had underwritten a total of about 27.95 billion insurance contracts as of the end of last year, down 0.92 percent from a year earlier, the association said.