Booming China Insurance Sector

Publication Date	November 2008
Publisher	RNCOS
Product Type	Report
Pages	65
ISBN Number	not applicable
Product Code	RCS00554

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Summary

China is one of the largest untapped and fastest growing insurance markets in the world. With rapid economic development and a burgeoning consumer class, China has the potential to become one of the most significant insurance markets in the world. Driven by a variety of demographic, economic and regulatory factors, this growth should continue at a solid pace in the foreseeable future, says our recent research report, ""Booming China Insurance Sector"".

Exploring the market development and potential, this research report offers objective analysis on China's insurance industry. The forecasts and estimations given in this report are not based on a complex economic model, but are intended as a guide to the direction in which the market is likely to move in future. This report therefore serves to provide foreign investors with an indepth understanding of China's insurance market.

Key findings of the report are:

Personal insurance premium income is forecasted to grow at a CAGR of about 24% during our forecast period spanning from 2008 to 2012.
Life insurance premium income is expected to rise to about RMB 1384 Billion by the end of 2012, growing at CAGR of about 25.5%.
Growing role of bancassurance and investmentlinked insurance products will decide the future of life insurance industry in the country.
Property insurance premium income is forecasted to grow at CAGR of about 21% during 20082012.
Booming China's automobile (including twoand threewheelers) industry will continue driving country's property insurance market during the forecast period.

Report features:

Detailed analysis on the current status of insurance market in China.
Overview on the fastest growing products.
Future outlook of the Chinese insurance market.
Growth prospects and major roadblocks in the market.

Major players discussed in the report are:

This section provides an insight on key players in the insurance market of China. These include China Life Insurance Company Limited, PICC Property & Casualty Ltd, Ping An Group and China Pacific Insurance (Group) Co. Ltd.

Information in the report has been sourced from:

Books, newspapers, trade journals, white papers, industry portals, government agencies, trade associations, monitoring industry news and developments, and through access to over 3000 paid databases.

Research methodology used in the report is:

RNCOS industry forecast and analysis is based on various macroand microeconomic factors, sector and industry specific databases, and our inhouse statistical and analytical model. This model takes into account the past and current trends in an economy, and more specifically in an industry, to bring out an objective market analysis.

Our industry experts study the relationship between various industry and economic variables to ensure the required accuracy and desired check on the quality of data and information given in the report.

Content

1. Analyst View
2. China A Fast Growing Economy
- 2.1 GDP Growth & Structure
- 2.2 Population Growth & Structure
- 2.3 Income Growth & Structure
3. China Insurance Market Current Scenario
4. Market Performance
- 4.1 By Personal Insurance
  - 4.1.1 Life Insurance
  - 4.1.2 Health Insurance
  - 4.1.3 Personal Accident Insurance
- 4.2 By Property Insurance
  - 4.2.1 Motor Insurance
  - 4.2.2 Commercial Property Insurance
  - 4.2.3 Others
- 4.3 By Distribution Network
  - 4.3.1 Agency
  - 4.3.2 Bancassurance
  - 4.3.3 Broker/Corporate Agents
- 4.4 By Province
  - 4.4.1 Personal Insurance
  - 4.4.2 Property Insurance
5. Reinsurance Market
6. Foreign Insurers in China An Analysis
7. Government Reforms & their Effect on Insurance Market
8. Key Growth Prospects
- 8.1 Investmentoriented Insurance Products
- 8.2 Agriculture & Livestock Insurance
- 8.3 Health Insurance
- 8.4 Pension Insurance
- 8.5 Reinsurance
- 8.6 Online Insurance Marketing
9. Market Roadblocks
- 9.1 Cultural Barriers
- 9.2 Income Disparities
- 9.3 Consumer Awareness
- 9.4 Shortage of Qualified Personnel
10. Key Market Contributors
- 10.1 China Life Insurance Company Limited
- 10.2 PICC Property & Casualty Limited
- 10.3 Ping An Insurance (Group) Co
- 10.4 China Pacific Insurance (Group) Co. Ltd
List of Figures:
- Figure 21: China Per Head GDP (in US$), 20002007E
- Figure 22: China GDP Mix by Sector (%), 2007
- Figure 23: China Population (in Million), 20012007E
- Figure 24: China Urban & Rural Population Split (%), 20012007
- Figure 25: China Per Head Disposable Income (in US$), 20012007E
- Figure 26: China Forecast for Per Head Disposable Income (in US$), 20082012
- Figure 31: China Number of Personal & Property Insurers (20022007)
- Figure 32: China Insurance Premium Income (in Billion RMB), 20022007
- Figure 33: China Breakup of Insurance Premium Income (%), 2007
- Figure 41: China Personal Insurance Premium Income (in Billion RMB), 20022007
- Figure 42: China Forecast for Personal Insurance Premium Income (in Billion RMB), 20082012
- Figure 43: China Breakup of Personal Insurance Premium Income (%), 2007
- Figure 44: China Market Share of Leading Personal Insurers (%), 2007
- Figure 45: China Personal Insurance Claims Paid (in Billion RMB), 2006 & 2007
- Figure 46: China Life Insurance Premium Income (in Billion RMB), 2006 & 2007
- Figure 47: China Forecast for Life Insurance Premium Income (in Billion RMB), 20082012
- Figure 48: China Life Insurance Claims Paid (in Billion RMB), 2006 & 2007
- Figure 49: China Health Insurance Premium Income (in Billion RMB), 2006 & 2007
- Figure 410: China Health Insurance Claims Paid (in Billion RMB), 2006 & 2007
- Figure 411: China Personal Accident Insurance Premium Income (in Billion RMB), 2006 & 2007
- Figure 412: China Personal Accident Insurance Claims Paid (in Billion RMB), 2006 & 2007
- Figure 413: China Property Insurance Premium Income (in Billion RMB), 20022007
- Figure 414: China Forecast for Property Insurance Premium Income (in Billion RMB), 20082012
- Figure 415: China Breakup of Property Insurance Premium (%), 2007
- Figure 416: China Market Share of Leading Property Insurers (%), 2007
- Figure 417: China Property Insurance Claims Paid (in Billion RMB), 2006 & 2007
- Figure 418: China Motor Insurance Premium Income (in Billion RMB), 2007 & 2012F
- Figure 419: China Vehicle Sales (in Million Units), 20012007
- Figure 420: Beijing Vehicle Sales (in Million Units), 20012007
- Figure 421: China Commercial Property Insurance Premium Income (in Billion RMB), 20032007E
- Figure 422: China Forecast for Commercial Property Insurance Premium Income (in Billion RMB), 20082012
- Figure 423: China Agriculture Insurance Premium Income (in Billion RMB), H1 2006 & H1 2007
- Figure 424: China Personal Insurance Premium Earned via Agency Network (%), 2006
- Figure 425: China Personal Insurance Premium Earned via Bancassurance (%), 2007
- Figure 426: China Personal Insurance Premium Earned via Corporate Agents/Brokers (%), 2006
- Figure 427: China Insurance Premium by Province (%), 2007
- Figure 428: China Personal Insurance Premium by Province (%), 2007
- Figure 429: China Property Insurance Premium by Province (%), 2007
- Figure 51: China Reinsurance Demand (in Billion RMB), 2005 & 2010F
- Figure 81: China Personal Insurance Penetration w.r.t Other Countries (%), 2007
- Figure 82: China Share of Investmentoriented Products in Personal Insurance Premium (%), H1 2008
- Figure 83: China Agriculture Insurance Premium Income (in Million RMB), 2006 & 2010F
- Figure 84: China Health Insurance Premium Income (in Billion RMB), 2007 & 2010F
- Figure 85: China Per Head Healthcare Spending (in US$), 2007 & 2010F
- Figure 86: China Forecast for Male & Female Life Expectancies (in Years), 20082012
- Figure 87: China Reinsurance Premium Income (in Billion RMB), 2004 & 2010F
- Figure 88: China Forecast for Internet Users (in Million), 20082012
- Figure 91: China Average Personal Income in Urban & Rural Areas (in RMB), 20022007
List of Tables:
- Table 21: Global Top Ten Countries by GDP (in Trillion US$), 2007
- Table 41: China Top Ten Provinces by Insurance Premium (in Billion RMB), 2007
- Table 42: China Top Ten Provinces by Personal Insurance Premium (in Billion RMB), 2007
- Table 43: China Top Ten Provinces by Property Insurance Premium (in Billion RMB), 2007
- Table 61: China Top Five Foreign Life Insurers by Premium Income (in Billion RMB), 2007
- Table 62: China Top Five Foreign Nonlife Insurers by Premium Income (in Billion RMB), 2007