China ranked second in the world in terms of the volume of the life insurance market in 2017. This was stated by Deputy Chairman of the China Banking and Insurance Regulatory Commission, Yuan Hung. The Xinhua news agency reported that two Chinese insurance companies entered the top ten based on this indicator. At the end of last year, the insurance against serious illnesses covered 1 billion 60 million Chinese, with a population of more than 1 billion 300 thousand people. Huang Hong spoke about plans to increase life insurance in the country by more than 1% per year over the next 20 years.