China Insurance Market Outlook to 2016 - Driven By Automobile Insurance Market

PITAMPURA, India - April 23, 2013 - PRLog -- New Delhi: 22/03/2013- The Chinese insurance industry has seen rapid expansion during 2005-2012 and will continue to see high growth rates in the next few years. The country’s insurance industry has made rapid advancement after opening of the market to FDI. China has completely opened its financial services market which includes the insurance industry after the negotiations with world trade organization (WTO). The WTO has encouraged much additional reform activity in the country in order to prepare China’s insurance market form vast foreign insurers participation and competitions. The introduction of reforms in the country has offered more room for the insurance players to invest their resources in order to raise their long term returns and to strengthen their viability

The commercial banks and private investors in the country have been allowed to invest in the insurance sector in order to maximize their returns. The investment in the insurance sector is the new source of capital and the insurance fund are being invested in a wide range of products in domestic and overseas market in order to diversify their risk. The investment in the insurance sector can be done through new establishments, acquisitions and subscriptions. The private shareholders are also encouraged to invest in insurance intermediaries such as agents, brokers, loss adjusters and asset management companies. The China Insurance Regulatory Commission has encouraged the intensive capital flow in the market in order to create a dynamic insurance market which serves the needs of China economy.

The insurance market in China can be classified on the basis of life and non-life insurance. The life insurance is a contract between life insurer and the policyholder in which an insurer is bound to pay a defined sum of money upon the death of the insured person within a certain specified time period or on the maturity of life insurance policy. The non life insurance is also known as general insurance is used to provide coverage to business and individual from the financial loss resulting from certain events such as natural disaster, accident, fire, burglary, diseases and others.

According to the research report “China Insurance Market Outlook to 2016 - Driven By Automobile Insurance Market” by Ken Research, the insurance industry in the country is expected to grow at a phenomenal rate of 17.7% in next four years due to favorable government regulations which will encourage the entrance of foreign players in the country

“Rising population with the increasing awareness, increasing personal disposable income with improving economic conditions and favorable government policies are expected to drive China insurance market positively from 2013-2016.” According to the Research Analyst, Ken Research

The report titled China Insurance Market Outlook to 2016 - Driven By Automobile Insurance Market provides a comprehensive analysis of market size of the Asia-Pacific insurance industry, market segmentation of Asia-Pacific insurance industry by geography. The report includes market size of the China insurance industry, market segmentation of non-life China insurance market and market size and segmentation of various non life segments. The report also provides value chain of China insurance market, competitive landscape and profile of major players operating in China insurance industry

For more information on the industry research report please refer to the below mentioned link:

http://www.kenresearch.com/banking-financial-services--in...