Reinsurance in China, Key Trends and Opportunities to 2016: Foreign Reinsurers Will Gain Market Share With Removal of Compulsory Cession to Domestic Reinsurers

Timetric, January 2012, Pages: 112

Synopsis
The report provides top-level market analysis, information and insights into the Chinese reinsurance market, including:
- The Chinese reinsurance market’s growth prospects by reinsurance categories
- The Chinese reinsurance market’s growth prospects by reinsurance ceded from direct insurance segments
- The competitive landscape in the Chinese reinsurance insurance market

Summary
With notable developments taking place in China’s overall insurance industry, the reinsurance market in China exhibited healthy growth during the review period. The China Insurance Regulatory Commission (CIRC) relaxed its rules regarding preferential treatment for domestic reinsurers, although the state-owned China Reinsurance Group continues to dominate the market. The CIRC is in particular encouraging the development of the international shipping insurance and reinsurance markets in Shanghai.

Scope
This report provides a comprehensive analysis of the reinsurance market in China:
- It provides historical values for China’s reinsurance market for the report’s 2007–2011 review period and forecast figures for the 2012–2016 forecast period
- It offers a detailed analysis of the key sub-segments in China’s reinsurance market, along with market forecasts until 2016
- It provides a detailed analysis of the reinsurance ceded from various direct insurance markets in China and its growth prospects
- It profiles the top reinsurance companies in China

Reasons To Buy
- Make strategic business decisions using top-level historic and forecast market data related to the Chinese reinsurance market and each sector within it
- Understand the demand-side dynamics, key market trends and growth opportunities within the Chinese reinsurance market
- Assess the competitive dynamics in the reinsurance market
- Identify the growth opportunities and market dynamics within key product categories

Key Highlights
- The growth in the Chinese reinsurance market has been primarily due to the high number of natural disasters that have occurred in China, which led to an increasing demand for low-priced life insurance products. The market has also been supported by robust growth in the country’s life, non-life, and accident and health insurance segments
- The CIRC in particular is encouraging the development of an international shipping insurance and reinsurance market in Shanghai. Insurers are increasingly pursuing expertise and are using not just domestic markets, but the London market as well as European and Bermudan reinsurers
- The facultative reinsurance category accounted for 60.2% of Chinese reinsurance market in 2011, while the treaty reinsurance category had a lower market share of 26.3%
- The CIRC has set down minimum requirements which define the financial strength of foreign reinsurers. The regulator’s rules include a minimum level of paid-up capital and ratings
- The China Reinsurance Group is the largest reinsurance provider in China, although other foreign reinsurers such as Hannover Re and Munich Re have opened offices in China and are attempting to increase their presence in the reinsurance market

Executive Summary

With notable developments taking place in China’s overall insurance industry, the reinsurance market in China exhibited healthy growth during the review period. The China Insurance Regulatory Commission (CIRC) relaxed its rules regarding preferential treatment for domestic reinsurers, although the state-owned China Reinsurance Group continues to dominate the market. The CIRC is in particular encouraging the development of the international shipping insurance and reinsurance markets in Shanghai.

1 Executive Summary
2 Introduction
2.1 What is this Report About?
2.2 Definitions
2.3 Methodology
3 Chinese Insurance Industry Attractiveness
3.1 Insurance Industry Size, 2007–2016
3.2 Reinsurance Growth Dynamics and Challenges
3.2.1 Reinsurance market size, 2007–2016
3.2.2 Reinsurance market size by type of insurance, 2007–2016
4 Key Industry Trends and Drivers
4.1 Fundamental Business Drivers
4.2 Life Insurance Segment Drivers
4.3 Non-Life Insurance Segment Drivers
4.4 Personal Accident and Health Insurance Segment Drivers
4.5 Recent Market Developments
5 Competitive Landscape and Strategic Insights
5.1 Overview
5.2 China Reinsurance (Group) Corporation – Company Overview
5.2.1 China Reinsurance (Group) Corporation – key facts
5.2.2 China Reinsurance (Group) Corporation – main products
5.2.3 China Reinsurance (Group) Corporation – key employees
6 Business Environment and Country Risk
6.1 Business Confidence
6.1.1 Business confidence index
6.1.2 Market capitalization trend – Shanghai stock index, China
6.1.3 FDI inflow by industry
6.1.4 Deployment of credit
6.2 Economic Performance
6.2.1 GDP at constant prices (US dollars)
6.2.2 GDP per capita at constant prices (US dollars)
6.2.3 GDP at current prices (US dollars)
6.2.4 GDP per capita at current prices (US dollars)
6.2.5 GDP split by key sectors
6.2.6 Agriculture net output at current prices (Chinese Yuan)
6.2.7 Agriculture net output at current prices (US dollars)
6.2.8 Agriculture net output at current prices as a percentage of GDP
6.2.9 Manufacturing net output at current prices (Chinese Yuan)
6.2.10 Manufacturing net output at current prices (US dollars)
6.2.11 Manufacturing net output at current prices as a percentage of GDP
6.2.12 Mining, manufacturing and utilities net output at current prices (Chinese Yuan)
6.2.13 Mining, manufacturing and utilities at current prices (US dollars)
6.2.14 Mining, manufacturing and utilities at current prices as a percentage of GDP
6.2.15 Construction net output at current prices (Chinese Yuan)
6.2.16 Construction net output at current prices (US dollars)
6.2.17 Construction net output at current prices as a percentage of GDP
6.2.18 Crude steel production
6.2.19 Crude oil consumption
6.2.20 Inflation rate
6.2.21 Fiscal balance as a percentage of GDP
6.2.22 Exports as a percentage of GDP
6.2.23 Imports as a percentage of GDP
6.2.24 Exports growth
6.2.25 Imports growth
6.2.26 External debt as a percentage of GDP
6.2.27 Annual average exchange rate (US$–RMB)
6.2.28 End of period exchange rate (US$–RMB)
6.2.29 Debt service ratio
6.3 Infrastructure Quality and Availability
6.3.1 Total airports
6.3.2 Railways and roadways
6.3.3 Passenger vehicle production
6.3.4 Commercial vehicle production volume
6.3.5 Automotive components exports
6.3.6 Automotive components imports
6.3.7 Passenger car penetration
6.3.8 Total installed capacity for electricity generation
6.3.9 Installed capacity for the generation of conventional thermal electricity
6.3.10 Electricity production
6.3.11 Installed capacity for the generation of hydro-electricity
6.3.12 Installed capacity for renewable electricity generation
6.3.13 Electricity exports
6.3.14 Electricity imports
6.3.15 Healthcare expenditure
6.3.16 Healthcare expenditure as a percentage of GDP
6.3.17 Healthcare expenditure per capita
6.3.18 Total internet subscribers
6.3.19 Broadband internet subscribers
6.3.20 Personal computer penetration rate
6.3.21 Mobile phone penetration rate
6.3.22 R&D Expenditure as a percentage of GDP
6.4 Labor Force
6.4.1 Labor force
6.4.2 Unemployment rate
6.5 Demographics
6.5.1 Annual disposable income
6.5.2 Annual per capita disposable income
6.5.3 Annual consumer expenditure on food
6.5.4 Annual per capita consumer expenditure on food
6.5.5 Total population
6.5.6 Urban and rural population
6.5.7 Female percentage of population
6.5.8 Male percentage of population
6.5.9 Median age of population
6.5.10 Population density
6.5.11 Age distribution of the total population
6.5.12 Age distribution of the male population
6.5.13 Age distribution of the female population
6.5.14 Number of households
6.6 Political and Social Risk
6.6.1 Political stability
6.6.2 Terrorism Index
6.6.3 Transparency index
7 Appendix
7.1 Methodology
7.2 Contact us
7.3 About Timetric
7.4 Disclaimer

List of Tables
Table 1: Insurance Industry Definitions
Table 2: China Insurance Overall Written Premium by Segment (RMB Billion), 2007–2011
Table 3: China Insurance Overall Written Premium by Segment (US$ Billion), 2007–2011
Table 4: China Insurance Overall Written Premium by Segment (RMB Billion), 2011–2016
Table 5: China Insurance Overall Written Premium by Segment (US$ Billion), 2011–2016
Table 6: China Insurance Segmentation (%), 2007–2016
Table 7: Reinsurance Market in China by Category (RMB Billion), 2007–2011
Table 8: Reinsurance Market in China by Category (US$ Billion), 2007–2011
Table 9: Reinsurance Market in China by Category (RMB Billion), 2011–2016
Table 10: Reinsurance Market in China by Category (US$ Billion), 2011–2016
Table 11: Reinsurance Ceded by Type of Insurance (RMB Billion), 2007–2011
Table 12: Reinsurance Ceded by Type of Insurance (US$ Billion), 2007–2011
Table 13: Reinsurance Ceded by Type of Insurance (RMB Billion), 2011–2016
Table 14: Reinsurance Ceded by Type of Insurance (US$ Billion), 2011–2016
Table 15: Life Insurance – Percentage of Reinsurance Ceded (%), 2007–2011
Table 16: Life Insurance – Percentage of Reinsurance Ceded (%),2011–2016
Table 17: Non-Life Insurance – Percentage of Reinsurance Ceded, 2007–2011
Table 18: Non-Life Insurance – Percentage of Reinsurance Ceded, 2011–2016
Table 19: Personal Accident and Health Insurance – Percentage of Reinsurance Ceded (%), 2007–2011
Table 20: Personal Accident and Health Insurance – Percentage of Reinsurance Ceded (%), 2011–2016
Table 21: China Reinsurance (Group) Corporation, Key Facts
Table 22: China Reinsurance (Group) Corporation, Main Products
Table 23: China Reinsurance (Group) Corporation, Key Employees

List of Figures
Figure 1: China Insurance Overall Written Premium by Segment (RMB Billion), 2007–2016
Figure 2: China Insurance Market Dynamics by Segment, 2007–2016
Figure 3: Premium Ceded to Reinsurance by Category (RMB Billion), 2007–2016
Figure 4: Reinsurance Premium by Category (% Share), 2011 and 2016
Figure 5: Reinsurance Market Dynamics by Category, 2007–2016
Figure 6: Reinsurance Ceded by Type of Insurance (RMB Billion), 2007–2016
Figure 7: Reinsurance Market Dynamics by Type of Insurance, 2007–2016
Figure 8: Life Insurance – Percentage of Reinsurance Ceded (%), 2007–2011
Figure 9: Life Insurance – Percentage of Reinsurance Ceded (%), 2011–2016
Figure 10: Non-Life Insurance – Percentage of Reinsurance Ceded, 2007–2011
Figure 11: Non-Life Insurance – Percentage of Reinsurance Ceded, 2011–2016
Figure 12: Personal Accident and Health Insurance – Percentage of Reinsurance Ceded (%), 2007–2011
Figure 13: Personal Accident and Health Insurance – Percentage of Reinsurance Ceded (%), 2011–2016
Figure 14: Chinese Business Confidence Indicator, 2005–2009
Figure 15: Shanghai stock index Market Capitalization (US$ Billion), 2004–2010
Figure 16: Chinese FDI Inflows by Industry (US$ Billion), 2003–2009
Figure 17: Chinese Deployment of Credit (US$ Billion), 2003–2009
Figure 18: Chinese GDP at Constant Prices (US$ Billion), 2007–2016
Figure 19: Chinese GDP Per Capita at Constant Prices (US$), 2007–2016
Figure 20: Chinese GDP at Current Prices (US$ Billion), 2007–2016
Figure 21: Chinese GDP Per Capita at Current Prices (US$), 2007–2016
Figure 22: Chinese GDP Split by Key Sectors (%), 2003 and 2008
Figure 23: Chinese Agriculture Net Output at Current Prices (RMB Billion), 2007–2016
Figure 24: Chinese Agriculture Net Output at Current Prices (US$ Billion), 2007–2016
Figure 25: Chinese Agriculture Net Output at Current Prices as a Percentage of GDP (%), 2007–2016
Figure 26: Chinese Manufacturing Net Output at Current Prices (RMB Billion), 2007–2016
Figure 27: Chinese Manufacturing Net Output at Current Prices (US$ Billion), 2007–2016
Figure 28: Chinese Manufacturing Net Output at Current Prices as a Percentage of GDP (%), 2007–2016
Figure 29: Chinese Mining, Manufacturing and Utilities Net Output at Current Prices (RMB Billion), 2007–2016
Figure 30: Chinese Mining, Manufacturing and Utilities Net Output at Current Prices (US$ Billion), 2007–2016
Figure 31: Chinese Mining, Manufacturing and Utilities Net Output at Current Prices as a Percentage of GDP (%), 2007–2016
Figure 32: Chinese Construction Net Output at Current Prices (RMB Billion), 2007–2016
Figure 33: Chinese Construction Net Output at Current Prices (US$ Billion), 2007–2016
Figure 34: Chinese Construction Output at Current Prices as a Percentage of GDP (%), 2007–2016
Figure 35: Chinese Crude Steel Production (Million Metric Tons), 2007–2016
Figure 36: Chinese Crude Oil Consumption (Million Tons), 2007–2016
Figure 37: Chinese Inflation Rate (%), 2007–2016
Figure 38: Chinese Fiscal Balance as a Percentage of GDP (%), 2007–2011
Figure 39: Chinese Exports as a Percentage of GDP (%), 2007–2016
Figure 40: Chinese Imports as a Percentage of GDP (%), 2007–2016
Figure 41: Chinese Exports Growth (%), 2007–2016
Figure 42: Chinese Imports Growth (%), 2007–2016
Figure 43: Chinese External Debt as a Percentage of GDP (%), 2007–2010
Figure 44: Chinese Annual Average Exchange Rate (US$–RMB), 2007–2010
Figure 45: Chinese End of Period Exchange Rate (US$–RMB), 2007–2010
Figure 46: China Debt Service Ratio, 2003–2009
Figure 47: Chinese Number of Airports, 2010
Figure 48: Chinese Railways and Roadways (Kilometers), 2010
Figure 49: Chinese Passenger Vehicle Production (Million Units), 2007–2016
Figure 50: Chinese Commercial Vehicle Production (Units), 2007–2016
Figure 51: Chinese Automotive Components Exports (US$ Billion), 2007–2016
Figure 52: Chinese Automotive Components Imports (US$ Billion), 2007–2016
Figure 53: China Passenger Vehicle Exports (Units), 2007–2016
Figure 54: Chinese Total Installed Capacity for Electricity Generation (Million Kilowatts), 2007–2016
Figure 55: Chinese Installed Capacity for the Generation of Conventional Thermal Electricity (Million Kilowatts), 2007–2016
Figure 56: Chinese Electricity Production (Billion Kilowatts Hours), 2007–2016
Figure 57: Chinese Installed Capacity for the Generation of Hydro-Electricity (Million Kilowatts), 2007–2016
Figure 58: Chinese Installed Capacity for the Generation of Renewable Electricity (Million Kilowatts), 2007–2016
Figure 59: Chinese Electricity Exports (Million Kilowatts Hours), 2007–2016
Figure 60: Chinese Electricity Imports (Billon Kilowatts Hours), 2007–2016
Figure 61: Chinese Healthcare Expenditure (US$ Billion), 2007–2016
Figure 62: Chinese Healthcare Expenditure as a Percentage of GDP (%), 2007–2016
Figure 63: Chinese Per Capita Healthcare Expenditure (US$), 2007–2016
Figure 64: Chinese Internet Subscriptions (Millions), 2007–2016
Figure 65: Chinese Broadband Internet Subscriptions (Millions), 2007–2016
Figure 66: Chinese Personal Computer Penetration Rate (per Hundred People), 2007–2016
Figure 67: Chinese Mobile Phone Penetration (%), 2007–2016
Figure 68: Chinese R&D Expenditure as a Percentage of GDP (%), 2007–2016
Figure 69: Chinese Size of Labor Force (Million), 2007–2016
Figure 70: Chinese Unemployment Rate (%), 2007–2016
Figure 71: Chinese Annual Disposable Income (US$ Billion), 2007–2016
Figure 72: Chinese Annual Per Capita Disposable Income (US$), 2007–2016
Figure 73: Chinese Consumer Expenditure on Food (US$ Billion), 2007–2016
Figure 74: Chinese Annual Per Capita Consumer Expenditure on Food (US$), 2007–2016
Figure 75: Chinese Total Population (Million People), 2007–2016
Figure 76: Chinese Urban and Rural Population (%), 2007–2016
Figure 77: Chinese Female as a Percentage of Total Population (%), 2007–2016
Figure 78: Chinese Male as a Percentage of Total Population (%), 2007–2016
Figure 79: Chinese Median Age of Population (Years), 2007–2016
Figure 80: Chinese Population Density (per Square Kilometer), 2007–2016
Figure 81: Chinese Population Distribution by Age (%), 2007–2016
Figure 82: Chinese Male Population Distribution by Age (%), 2007–2016
Figure 83: Chinese Female Population Distribution by Age (%), 2007–2016
Figure 84: Chinese Households, Number of (Million), 2007–2016
Figure 85: Global Terrorism Heat Map, 2011
Figure 86: Chinese Transparency Index, 2007–2010

China Reinsurance (Group) Corporation

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