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Merger and Acquisition Report of China Insurance Industry, 2007-2008
Research In China, Sep 2008, Pages: 52
In 2007, the Chinese insurance industry developed rapidly and stably, premium revenues reached as much as CNY703.58 billion, ranked at number 9 in the world and up by 25% year on year. Furthermore, the industry’s growth rate was the highest during 2004-2007.
In the period January to June 2008, premium revenue reached CNY561.79 billion, of which CNY129.93 billion were from property insurance; CNY431.86 billion were from life insurance. The total assets hit CNY3.0235 trillion.
Compared with other countries, insurance penetration and density in China are much lower than the global average. In 2007, insurance penetration was 2.85% and insurance density was CNY 532.4 per person; while global insurance penetration was 7.5% and insurance density was USD 512 per person.
M&A activity in the insurance industry has accelerated a new competitive pattern since 2007. In this process, some large scale insurance companies would control more financial resources. For different purposes, more and more non-insurance business companies are seeking an entry opportunity into the market. Meanwhile, the Chinese financial industry has begun mixed operations, while foreign giants will also impact on China’s market; therefore, M&A cases will emerge continuously in the future.
This title is also available in the following language
Merger and Acquisition Report of China Insurance Industry, 2007-2008 (Chinese Version)
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