Dublin-based Research and Markets has added a new report on the Chinese insurance industry to their offering. “‘China Insurance Sector Analysis (2006)’, provides extensive research and objective analysis about the growing insurance industry in China, its product quality, and services,” said R&M’s bulletin. “This report helps clients to analyze the leading-edge opportunities critical to the success of the insurance Industry in China. Detailed data and analysis helps investor, financial service providers, and global banking players navigate the evolving market of insurance in China.”
The study analyzes both the life and non-life sectors, and “provides an overview of the key players in this industry like China Life Insurance, CITIC Group, Generali China Life, Manulife-Sinochem Life, China Pacific Life, PICC Property, Mitsui Sumitomo and Pingan Life.”
The research report also addresses the issues and facts that are “critical to business success, such as: – What are the marketing strategies of the players in the insurance industry? – How is the growth in Health and Group insurance driving the Insurance sector in China? – How do the demographic factors, like death rate and birthrates affect the Chinese insurance market? – What are the emerging opportunity and challenges for the industry players? – What are the most prospective areas for investments in the insurance sector in near future? – Which factors will lead to the growth of Life and Non Life insurance in China?”
R&M notes: “The Chinese insurance market has shown a steady growth in the recent past. China has a population of over 1.3 billion and the top ten insurers in China only have approximately 10 percent share in the market. That means that 90 percent of the potential insurance market in China has yet not been tapped.
Other key findings in the report are:
– The total insurance market in China is expected to grow at the rate of more than 13 percent to reach the level of more than US$ 100 Billion from the year 2006 onwards.
– Rapid growth in car sales is expected to propel growth in auto insurance, which accounts for more than 60 percent of China’s non-life premium.
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