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Follow on Google News | "China Insurance Report Q4 2010" is now available at Fast Market ResearchNew Financial Services research report from Business Monitor International is now available from Fast Market Research
China's insurance sector stands out for arguably negative reasons. Although many foreign insurers are present in the non-life and life segments, almost invariably as joint venture partners with a Chinese organisation, they are often confined by their licences to particular lines of business and/or to particular geographic territories. Former state-owned near-monopolies such as PICC and China Life are established players with huge strengths in terms of branding and branch networks. Unlike their peers in other countries, however, they also have enormous scale even by the standards of large multinational insurance companies that are based in developed countries. The government, mainly through the China Insurance Regulatory Commission (CIRC), is more active in providing strategic direction for the sector than are its counterparts in most other countries. As was the case in Q310, we provide a ranking of the major players in each of the two main segments, as they are seen by the organisation providing the data, which in practice is usually the regulator or the trade association) Writing in August 2010, we have been able to ensure that the report includes actual data for 2009. We have generally been able to use data published in 2010 to adjust our forecasts for the year as a whole. Total premiums in 2009 were CNY1,106,760mn. This comprises non-life premiums of CNY374,707mn and life premiums of CNY732,053mn. In 2014 the corresponding figures should be CNY1,754,656mn, CNY690,762mn and CNY1,063,894mn. In terms of the key drivers that underpin our forecasts, we expect non-life penetration to grow from 1.00% in 2009 to 1.31% in 2014, and for life density to rise from US$44 to US$123. BMI's proprietary insurance business environment rating for China is 62.8 out of 100. In H110 CIRC's figures showed that non-life and life premiums had increased to CNY201,784mn and CNY598,071mn respectively. We expect growth in the non-life segment to slow to high single digits in 2010, which should be a year of consolidation after massive expansion over 2007-2009. More crucially, the numbers suggest that life premiums are on track to achieve growth that is well in excess of 25% in 2010. If achieved, this will represent a major appreciation. Over the last five years or so, premiums have more than doubled, although much of the growth occurred in 2008 when life insurance represented a particularly attractive opportunity compared to other asset classes. For more information or to purchase this report, go to: - http://www.fastmr.com/ Partial Table of Contents: Executive Summary - Table: Overview Of China's Insurance Sector - Key Insights On China's Insurance Sector - Issues To Watch SWOT Analysis - China Insurance Industry SWOT - China Political SWOT - China Economic SWOT - China Business Environment SWOT MetLife's Acquisition Of ALICO - Table: ALICO At A Glance - Table: ALICO's Pre-Tax Profits By Segment And Region Contribution, Year To November 30 2009 (%) - Table: ALICO - A Market Leader In Japan - Table: MetLife's Acquisition Of ALICO - Table: MetLife And ALICO Combined Asia Pacific Overview - Table: Asia Pacific Non-Life Markets At A Glance, 2008-2010 - Table: Asia Pacific Life Markets At A Glance, 2008-2010 Projections And Forecasts - Table: Premiums - Totals And Annual Percentage Change, 2007-2014 - Projections And Drivers Of Growth - Table: Growth Drivers, 2007-2014 Country Update - Macroeconomic Outlook - Table: China - Economic Activity, 2007-2014 - Political Outlook Insurance Business Environment Rating - Table: China's Insurance Business Environment Ratings - Table: Asia Pacific Insurance Business Environment Ratings Regional Context - Table: Non-Life Premiums In A Regional Context, 2009 - Table: Life Premiums In A Regional Context, 2009 Major Players In China's Insurance Sector - Table: Top 18 Local Non-Life Groups By Premiums, H109 - Table: Foreign Non-Life Insurers, H109 - Table: Top 20 Domestic Life Groups By Premiums, H109 - Table: Top 20 Foreign Life Groups By Premiums, H109 Analysis Of Regional Competitive Conditions Local Company Profiles - China Life Insurance Company - China Pacific Insurance Company - New China Life Insurance (Xinhua) - PICC Property and Casualty Company - Full Table of Contents is available at: -- http://www.fastmr.com/ About Business Monitor International Business Monitor International (BMI) offers a comprehensive range of products and services designed to help senior executives, analysts and researchers assess and better manage operating risks, and exploit business opportunities, across 175 markets. BMI offers three main areas of expertise: Country Risk BMI's country risk and macroeconomic forecast portfolio includes weekly financial market reports, monthly regional Monitors, and in-depth quarterly Business Forecast Reports. Industry Analysis BMI covers a total of 17 industry verticals through a portfolio of services, including in-depth quarterly Country Forecast Reports. View more research from Business Monitor International at http://www.fastmr.com/ About Fast Market Research Fast Market Research is an online aggregator and distributor of market research and business information. We represent the world's top research publishers and analysts and provide quick and easy access to the best competitive intelligence available. For more information about these or related research reports, please visit our website at http://www.fastmr.com or call us at 1.800.844.8156. # # # Fast Market Research is an online aggregator and distributor of market research and business information. We represent the world's top research publishers and analysts and provide quick and easy access to the best competitive intelligence available. End
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