Do insurance companies belong to financial institutions?

The non-bank financial institutions supervised by China CIRC mainly include property insurance companies, life insurance companies, reinsurance companies, insurance intermediaries and insurance asset management companies.

Personal Finance, a textbook for the qualification examination of banking practitioners in China.

Explain that insurance companies belong to non-bank financial institutions.

Further reading: How to buy insurance, which is good, and teach you how to avoid these "pits" of insurance.