This updated report covers all aspects of the reinsurance market as it is now emerging, and includes profiles of the leading domestic and foreign companies involved in the market to date.
In 1998, the reinsurance market stood at RMB 115 billion (US$ 14.0 billion), with foreign companies accounting for approximately 50% of business. By 2000 this figure had risen substantially and again by 2002. China Re’s effective monopoly of China’s reinsurance market ended in 2001 though there remained a requirement that 20% of reinsurance be placed with China Re, which reduced to 15% in 2002 and will continue to decline by 5% per annum until it is phased out in 2005. In 2003 China’s regulators started issuing licenses to foreign reinsurers for universal business
