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Ping An and Taikang Insurance, two of China's major insurance companies, are considering entering the Russian market, Kommersant reported, citing two sources in the insurance industry. 

Both companies specialise in insurance and long-term care for the elderly. Ping An operates a life insurance model for older people under which medical assistance and long-term care are organised at the insurer's expense, while Taikang Insurance also works in healthcare and elderly care. 

According to the newspaper, the Chinese groups are looking to buy large Russian life insurers rather than simply acquire an insurance licence. One of the paper's sources said the Chinese side was at the stage of studying the market, including in CIS countries, and had asked several Russian life insurers about a possible purchase price. 

There are currently no companies with Chinese capital on the Russian insurance market. According to Russia's Central Bank, as of 1 January 2026 foreign participation accounted for 3.2 % of insurers' combined charter capital. "The statutory quota for foreign capital in Russian insurance companies is 50 %, so there is plenty of headroom," said Vyacheslav Podzharov, project lead at Advance Capital. 

Ping An and Taikang Insurance did not respond to Kommersant's request for comment, and Russia's top 10 life insurers likewise ignored journalists' questions about their Chinese counterparts' interest. 

Experts say the Chinese companies' interest in new markets is well founded. "Russia is a country with a sizeable population, a developed economy and relatively high household incomes compared both with CIS countries and with many other populous states of the Global South," said Alexei Yanin, managing director for insurance and investment company ratings at rating agency Expert RA. The share of older age groups in Russia is considerable — 24 %, according to the health ministry — while insurance penetration remains lower than in mature markets, which creates growth potential, Podzharov noted. 

Acquiring a fully fledged insurance company could take about a year, experts estimate. Tatiana Samsonova, a partner at consultancy B1, said buying a company with working infrastructure and a client base made sense, since "Chinese insurers would be able to offer a complementary product without significant additional investment". 

However, putting the deal together may not be straightforward, lawyers warn. In all likelihood the acquisition will not be made directly by a Chinese insurance company, in order to minimise sanctions and compliance risks. In addition, approval from the Federal Antimonopoly Service and the Central Bank of Russia will be required, they say.