Coronavirus has caused a decline in life insurance business for Chinese insurer Ping An but a tenfold increase in registrations for its online health consultation service.
The warning from one of the world’s largest insurers by assets and the second-largest shareholder in HSBC Bank bodes poorly for the performance of China’s life insurance industry this year.
Services that require face-to-face interaction have plummeted since late January as people attempt to avoid the spread of the virus that has killed more than 2,100 and infected 75,700.
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