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Life Insurance in China, Key Trends and Opportunities till 2015
BRICdata, Dec 2011, Pages: 212
The report provides top-level market analysis, information and insights into the Chinese life insurance industry, including:
- The Chinese life insurance industry’s growth prospects by product category and customer segment
- The various distribution channels in the Chinese life insurance industry
- The competitive landscape in the Chinese life insurance industry
- A description of the life reinsurance market in China
China is the world’s sixth-largest life insurance market and the largest life insurance market in the South East Asia region. The Chinese life insurance market is expected to surpass Japan to emerge as the second-largest life insurance market in the world after the US by 2020. Between 2006 and 2010, the significant growth in the Chinese life insurance market can be attributed to the rise in the ageing population, robust economic growth, the rising disposable incomes of China’s middle-class population and the increasing awareness of the need for insurance, especially among the younger generations in the country.
Despite the insurance industry expansion, China remains an untapped market with only 50 percent of the population insured by 2010. The life insurance penetration of 2.6 percent of GDP highlights the opportunities within the country for life insurance companies during the forecast period.
This report provides a comprehensive analysis of the life insurance market in China:
- It provides historical values for China’s life insurance industry for the report’s 2006–2010 review period and forecast figures for the 2011–2015 forecast period
- It offers a detailed analysis of the key sub-segments in China’s life insurance industry, along with market forecasts until 2015
- It covers an exhaustive list of parameters, including written premium, incurred loss, loss ratio, commissions and expenses, combined ratio, frauds and crimes, total assets, total investment income and retentions
- It analyses the various distribution channels for life insurance products in China
- Using Porter’s industry-standard “Five Forces” analysis, it details the competitive landscape in China for the life insurance business
- It provides a detailed analysis of the reinsurance market in China and its growth prospects
- It profiles the top life insurance companies in China, and outlines the key regulations affecting them
Reasons To Buy
- Make strategic business decisions using top-level historic and forecast market data related to the Chinese life insurance industry and each sector within it
- Understand the demand-side dynamics, key market trends and growth opportunities within the Chinese life insurance industry
- Assess the competitive dynamics in the life insurance industry, along with the reinsurance segment
- Identify the growth opportunities and industry dynamics within key product categories
- Gain insights into key regulations governing the Chinese life insurance industry and its impact on companies and the industry's future
Key Highlights
- The significant growth in the Chinese life insurance market in the review period can be attributed to key growth drivers such as a rise in the ageing population, robust economic growth, rising disposable incomes of China’s middle-class population and the increasing awareness of the need for insurance, especially among the younger generations in the country
- China is the world’s sixth-largest life insurance market, and the second-largest in the Asia-Pacific region
- By 2020, it is expected to surpass Japan to emerge as the second-largest life insurance market in the world after the US
- In 2010, the individual life insurance segment accounted for 94.3% of the total Chinese life insurance industry
- Distribution channels such as bancassurance have gained significant market share in the review period
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