Influenced by foreign insurance companies, China people also turned their attention to the insurance industry, and some China businessmen began to follow the example of foreign insurance companies. 1865, the first national insurance company in China, Shanghai huashang Yihe company insurance bank, was established, which broke the monopoly of foreign insurance companies in China insurance market, and China modern national insurance industry was formally born.
1872, China Westernization School established the first state-owned shipping industry for people's livelihood in Shanghai under the banner of "get rich first, then strengthen", with the slogans of "self-improvement" and "seeking wealth", and adopted the management mode of "official supervision and commercial operation". 1875 established the insurance investment promotion bureau, marking China. 1885, in order to meet the needs of insurance business development, China Insurance Merchants Group was reorganized into two independent insurance companies, Renhe and Jihe. 1887, the two companies merged to form "Yan Chai and Insurance Company". The business scope also began to shift from sea to land ports, undertaking various water insurance and fire insurance businesses, and became an influential Chinese-funded insurance enterprise in modern China. Subsequently, more than 20 fire and water insurance companies were established in China, which developed rapidly in the great development of national capitalist industry and commerce.
During the First World War, China's insurance industry briefly entered a period of development. Until the outbreak of War of Resistance against Japanese Aggression in 1937, the insurance industry in China suffered heavy losses, and the post-war recovery was not optimistic.
After the founding of New China, the insurance market in old China was first managed and rectified, followed by the establishment and development of people's insurance.
1October 20th, 1949, 10, China People's Insurance Company was officially listed for business, which marked the establishment of modern insurance in China and initiated a new era of insurance in China. In addition to the traditional fire insurance and transportation insurance, China People's Insurance Company also actively develops new types of insurance. At the same time, it has established its own branches all over the country and gradually developed various property insurance and life insurance businesses.