发布时间：2007.12

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摘要

The growing incidents of accidents, natural calamities, diseases, and robbery have given rise to increased need for insurance. China, the country with the largest population and dynamically growing economy, is seeing a stir in its insurance industry. China’s insurance industry is scaling new heights with each passing year. All the industry players are working hard to fortify their position in the Chinese insurance industry and various industry players are looking to tap the opportunity. To evaluate the Chinese insurance industry comprehensively, the leading research firm RNCOS has come up with its latest report "China Insurance Sector till 2010”. The report focuses on the growing marketplace for insurance industry in China and analyzes the current market trends, evolving market and growth prospects of the insurance industry.

This report will help clients to analyze the leading-edge opportunities critical to the success of the insurance industry at global level as well as in China. After seeing slowdown in growth rate in 2004, the global insurance industry has recovered somewhat from the ongoing effects of America's 'War on Terror' and the immediate impact of tightening regulation. According to the report, globally, inflation-adjusted premiums jumped by 5% in 2006 from 2005.

But the focus of this report is on the China insurance industry, which is divided into Life, Non-life and Reinsurance. So the Chinese insurance sector consists of companies providing life and non-life insurance, whether in domestic or foreign ownership. Insurance sector picture in China is very rosy due to favorable market conditions such as high economic growth, China’s accession to the WTO and 2004 reforms that made the entry of foreign players far easier.   The insurance growth is forecasted on the basis of current market trends, drivers, barriers, and business development issues.

CNY or RMB represents the Chinese Yuan.

Key Findings

§ The introduction of the compulsory auto insurance in July 2006 has brought much needed capacity back to the Chinese non-life insurance market. Along with this, it is expected that in 2015, China will overtake the US in vehicle sales, offering immense opportunities to the players.
§ China’s insurance market is still at a relative immaturity stage as compared to developed countries. It can be concluded from low penetration rate at 2.7% of GDP. And the per capita spending of US$ 46 shows huge opportunities as against US$ 3,747 in the developed market of Japan.
§ Insurance reforms will result in increased demand for property insurance. Along with this, high savings rate, elder population, and weak social security system will fuel the demand in protection type products.
§ Insurance density remains very low in China in both life and non-life insurance as compared to developed countries. So the market players have enough space to play with their products and leverage from the opportunity.
§ Economic growth, rising GDP and large savings will work as driving force for the China insurance industry.

Key Issues & Facts Analyzed

§ What is the difference between emerging and developed insurance industries?
§ Which forces are working in favor and which ones are hindering the market growth?
§ What is the landscape of life and non-life insurance industries in China?
§ What opportunities exist for the insurance players in China insurance industry?
§ What regulatory reforms have been introduced in the Chinese insurance industry?
§ What is the market position of the reinsurance industry in China?

Research Methodology Used

Information Sources
The information has been sourced from authentic and reliable sources like books, newspapers, trade journals and white papers, industry portals, government agencies, trade associations, monitoring industry news and developments, and access to more than 3000 paid databases.

Analysis Method
Methods like ratio analysis, historical trend analysis, linear regression analysis using software tools, judgmental forecasting, and cause and effect analysis have been used in the report for rational analysis.

目录及图表

1. Analyst View
2. Emerging vs Developed Insurance Markets
     2.1 Life Insurance
     2.2 Non-life Insurance
     2.3 Emerging Markets - Outlook
     2.4 China - Top Emerging Insurance Market
3. China Insurance Industry
     3.1 Statistical Overview
     3.2 Regulatory Reforms
     3.3 Driving Forces
            3.3.1 Economic Growth
            3.3.2 Liberalization Reforms
            3.3.3 Growing Population
            3.3.4 Government Support
4. Life Insurance Industry
     4.1 Statistical Overview
            4.1.1 Health Insurance
            4.1.2 Accidental Insurance
     4.2 Market Penetration
     4.3 Insurance Density
5. Non-life Insurance Industry
     5.1 Statistical Overview
            5.1.1 Motor Insurance
            5.1.2 Commercial Property Insurance
     5.2 Market Penetration
     5.3 Insurance Density
6. Reinsurance Industry
7. Industry Analysis
     7.1 Future Outlook
     7.2 New Avenues
            7.2.1 Income Disparity
            7.2.2 Low Insurance Density
            7.2.3 Opportunities for Foreign Players
            7.2.4 Low Market Penetration
            7.2.5 Motor Insurance
     7.3 Growth Resistors
            7.3.1 Cultural Barriers
            7.3.2 Lack of Qualified Management
            7.3.3 Weak Actuarial & Risk Management Capabilities
            7.3.4 Immature Operations
8. Key Players
     8.1 China Life Insurance Co. Ltd.
     8.2 Ping An Insurance (Group) Company of China Ltd.
     8.3 PICC Property & Casualty Company Ltd.
     8.4 China Pacific Insurance (Group) Co., Ltd.
     8.5 China Reinsurance (Group) Company
     8.6 Manulife-Sinochem Life Insurance Co. Ltd.

List of Figures:

Figure 2-1: Global - Life & Non-life Insurance Premium (in Billion US$), 2006
Figure 2-2: Global - Life Insurance Premium by Major Regions & Countries (in Billion US$), 2006
Figure 2-3: Global - Non-life Insurance Premium by Major Regions & Countries (in Billion US$), 2006
Figure 2-4: China - Comparison of Growth in Life Insurance with Other Emerging Markets (%), 2005
Figure 2-5: China - Comparison of Growth in Non-life Insurance with Other Emerging Markets (%), 2005
Figure 3-1: China - Share of Life & Non-life Insurance Premium in GDP (%), 2006
Figure 3-2: China - Insurance Premium (in Billion Yuan), 2005, 2006 & Q1 2007
Figure 3-3: China - Share of Life & Non-life Insurance Industry (%), 2006
Figure 3-4: China - Share of Domestic & Foreign Insurers (%), 2006
Figure 3-5: China - Forecast for Share of Domestic & Foreign Insurers (%), 2010
Figure 3-6: China - Share of Top Life Insurers (%), 2001-2005
Figure 3-7: China - Share of Top Non-life Insurers (%), 2001-2005
Figure 3-8: China - Number of Life, Non-life & Reinsurance Companies (2001-2005)
Figure 3-9: China - Population (in Million), 2001-2006
Figure 4-1: China - Life Insurance Premium (in Billion Yuan), 2005 & 2006
Figure 4-2: China - Share of Life Insurers (%), 2005 & 2006
Figure 4-3: China - Share of Top 10 Life Insurers (%), Jan to Aug 2007
Figure 4-4: China - Segmentation of Life Insurance Premium (%), 2004
Figure 4-5: China - Health Insurance Premium (in Billion Yuan), Jan to Mar 2006 & Jan to Mar 2007
Figure 4-6: China - Accidental Insurance Premium (in Billion Yuan), Jan to Mar 2006 & Jan to Mar 2007
Figure 4-7: China - Personal Accidental Insurance Premium (in Million US$), 2003-2005
Figure 5-1: China - Non-life Insurance Premium (in Billion Yuan), 2005 & Jan to Nov 2006
Figure 5-2: China - Share of Top 5 Non-life Insurers (%), 2001-2005
Figure 5-3: China - Non-life Insurance Distribution by Channel (%), 2005
Figure 5-4: China - Share of Motor Insurance in Non-life Insurance Premium (%), Jan to Aug 2006
Figure 5-5: China - Motor Insurance Premium (in Billion Yuan), Jan to Aug 2005 and Jan to Aug 2006
Figure 5-6: China - Commercial Property Insurance Premium (in Billion US$), 2001-2005
Figure 6-1: China - Reinsurance Premium (in Billion Yuan), 2004 & 2005
Figure 7-1: China - Agriculture Insurance Premium (in Million Yuan), 2005, 2006 & Jan to June 2007
Figure 7-2: China - Per Capita Income of Rural & Urban Areas (in Yuan), 2001-2005
Figure 7-3: China - Vehicle Sales (in Million Units), 2001-2006E

List of Tables:

Table 2-1: Global - Insurance Premium by Segment (in Billion US$), 2006
Table 3-1: China - Comparison of GDP Growth Rate with Other Asian Countries (%), 2001-2007F
Table 4-1: Mainland China - Premium Income & Claims of Private Health Insurance (in Billion Yuan), 1997-2006
Table 4-2: China - Comparison of Life Insurance Penetration Rate with Other Asian Countries (%), 2001-2006
Table 4-3: China - Comparison of Life Insurance Per Capita Premium with Other Asian Countries (in US$), 2001-2006
Table 5-1: China - Comparison of Non-life Insurance Penetration Rate with Other Asian Countries (%), 2001-2006
Table 5-2: China - Comparison of Non-life Insurance Per Capita Premium with Other Asian Countries (in US$), 2001-2006
Table 6-1: China - Share of Reinsurers (%), 2000-2004
Table 7-1: China - Per Capita GDP by Province (in Yuan), 2001-2005
Table 7-2: China - Comparison of Insurance Per Capita Premium with Other Asian Countries (in US$), 2001-2006
Table 7-3: China - Comparison of Insurance Market Penetration Rate with Other Asian Countries (%), 2001-2006
Table 8-1: China Life Insurance Co. Ltd. - Financial Overview (in Million Yuan), 2005 & 2006
Table 8-2: Ping An Insurance (Group) Company of China Ltd. - Financial Overview (in Million Yuan), June 2006 & June 2007
Table 8-3: PICC Property & Casualty Company Ltd. - Financial Overview (in Million Yuan), June 2006 & June 2007