High-end health insurance provider MSH China has signed a deal with Datong Financial Services to develop customer-tailored products.

With annual premiums ranging between 30,000 yuan ($4,838) and 40,000 yuan coverage could reach 16 million yuan.

Jiang Ming, chairman and CEO of Datong, said the company realized the potential of high-end health insurance three years ago.

Statistics from international consulting firm Accenture showed China's high-end premiums reached around 2 billion yuan last year, and future business is predicted to grow by 20 percent annually.

By the end of 2014 Datong's premium income had reached 20 million yuan.

Headquartered in Paris, MSH entered China in 2000 and now has biggest market share of China's high-end insurance sector.