This updated version of Insurance in China covers the current state of development of the insurance market in China, including major areas of consumer and general insurance and foreign and domestic insurers currently active in the market.
In the last decade China’s fledgling insurance industry has shown rapid development and tremendous growth potential. When domestic insurance was resumed in 1980 premium earnings totalled RMB642 million. Fifteen years later the market had grown over 100 fold. The insurance market has made progress from a monopoly to oligopoly in the last decade and competition is being introduced gradually through government licensing of companies. Life insurance, in particular, is booming in China as state-owned enterprises cut back on coverage for state employees and lay off workers as part of the ongoing reform process. Chinese citizens, are starting taken it upon themselves to purchase private insurance whether property, life, vehicle, health or pensions. As foreign companies are allowed into the market and the market extends out from the major urban areas throughout the country, China’s insurance industry is becoming a major focus of international activity for the world’s largest insurers.

TABLE OF CONTENTS EXECUTIVE SUMMARY 3 CHAPTER 1 Market Overview 7 1.1 Market Definition 7 1.2 Research Highlights 7 1.3 Market Analysis 8 CHAPTER 2 Market Value 9 CHAPTER 3 Market Segmentation I 10 CHAPTER 4 Market Segmentation II 11 CHAPTER 5 Competitive Landscape 12 CHAPTER 6 Leading Companies 13 6.1 Ping An Insurance (Group) Company of China, Ltd. 13 6.2 PICC Property and Casualty Company Ltd 13 6.3 China Life Insurance Company Limited 13 6.4 China Pacific Insurance Co., Ltd. 14 CHAPTER 7 Market Forecasts 15 7.1 Market Value Forecast 15 CHAPTER 8 Macroeconomic Indicators 16 CHAPTER 9 Further Reading 18 9.1 Sources 18 9.2 Related Datamonitor Research 18 LIST OF TABLES Table 1: China Insurance Market Value: $ billion, 2000-2004 9 Table 2: China Insurance Market Segmentation I: % Share, by Value, 2004 10 Table 3: China Insurance Market Segmentation II: % Share, by Value, 2004 11 Table 4: China Insurance Market Value Forecast: $ billion, 2004-2009 15 Table 5: China Size of Population (million), 2000-2004 16 Table 6: China GDP (1995=100), 2000-2004 16 Table 7: China Inflation, 2000-2004 16 Table 8: China Exchange Rate, 2000-2004 17 CONTENTS