On January 4th, 2024, insurance company branches will still be in a “slimming” state, but the speed will slow down compared to 2023. According to data from the State Administration of Financial Supervision and Administration, a total of 1984 branches of insurance companies withdrew from the market last year, which is less than the number of institutions that withdrew in 2023. At the same time, 585 new branches were established. Industry insiders believe that in recent years, the continuous “downsizing” of insurance company branches reflects the industry’s efforts to eliminate inefficient institutions and manpower. (Securities Daily)
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