That's a good question, but few people have counted the annual changes of insurance companies, but I can tell you the figures from beginning to end. 1980, there is only one insurance company, China People's Insurance Company, and there is no difference between life insurance and property insurance (it was later split into China Life Insurance and PICC). Ping An Insurance was established in 1988, and Pacific Insurance was established in 199 1, forming the third family. China's first insurance law was promulgated in 1995, and insurance companies mushroomed in 1996. Two of them have now developed into one of the five new life insurance companies-Xinhua Life Insurance (the top three) and Taikang Life Insurance. At present, there are 1 17 insurance companies, 60 life insurance companies, 52 property insurance companies and 5 pension insurance companies in China.
Further reading: How to buy insurance, which is good, and teach you how to avoid these "pits" of insurance.