Life Insurance in China, Key Trends and Opportunities to 2017

Synopsis
The report provides in depth market analysis, info...
volatile market conditions. The ongoing tightening of regulation by the China Insurance Regulatory
Commission (CIRC) is al...
5 Chinese Insurance Industry Attractiveness
5.1 Insurance Industry Size, 2008–2017
5.2 Key Industry Trends And Drive...
10 Governance, Risk And Compliance
10.1 Legislation Overview And Historical Evolution
10.2 Legislation Trends By Type Of I...
11 Competitive Landscape And Strategic Insights
11.1 Overview
11.2 Leading Companies In The Chinese Life Insurance Segment...
12.2.5 Gdp Per Capita At Current Prices (us$)
12.2.6 Gdp By Key Segments
12.2.7 Agriculture, Hunting, Forestry And Fishing...
ResearchMoz(http://www.researchmoz.us/) is the one stop online destination to find and buy market research
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Life Insurance Market in China to 2017

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The life segment accounted for 59.7% of the country’s insurance industry in 2012. The life segment’s growth slackened in 2011 and 2012, after phenomenal expansion at a CAGR of 28.5% during 2006–2010. The changes in reporting basis to Chinese GAAP in 2011 (which excludes most premiums from variable universal life and investment-linked products) and new bancassurance regulations imposed by the China Banking Regulatory Commission (CBRC) in November 2010 reduced the growth in premium.

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Life Insurance Market in China to 2017

  1. 1. Life Insurance in China, Key Trends and Opportunities to 2017 Synopsis The report provides in depth market analysis, information and insights into the Chinese life insurance segment, including: Benchmarking analysis of the BRICS (Brazil, Russia, India, China and South Africa) countries The Chinese life insurance segment’s growth prospects by life insurance categories and customer segments The various distribution channels in the Chinese life insurance segment The competitive landscape in the Chinese life insurance segment A description of the life reinsurance segment in China Detailed analysis of the regulatory framework in China Executive summary The life segment accounted for 59.7% of the country’s insurance industry in 2012. The life segment’s growth slackened in 2011 and 2012, after phenomenal expansion at a CAGR of 28.5% during 2006–2010. The changes in reporting basis to Chinese GAAP in 2011 (which excludes most premiums from variable universal life and investment-linked products) and new bancassurance regulations imposed by the China Banking Regulatory Commission (CBRC) in November 2010 reduced the growth in premium. Despite the current challenging operating environment for life insurance, the long-term growth potential remains encouraging given China’s low insurance penetration, rising income levels and aging population. Scope This report provides a comprehensive analysis of the life insurance segment in China: It provides historical values for China’s life insurance segment for the report’s 2008–2012 review period and forecast figures for the 2012–2017 forecast period It offers a detailed analysis of the key sub-segments in China’s life insurance segment, along with industry forecasts until 2017 It covers an exhaustive list of parameters including written premium, incurred loss, loss ratio, commissions and expenses, combined ratio, frauds and crimes, total assets, total investment income and retentions It analyses the various distribution channels for life insurance products in China Using Porter’s industry-standard “Five Forces” analysis, it details the competitive landscape in China for the life insurance segment It provides a detailed analysis of the reinsurance segment in China and its growth prospects It profiles the top life insurance companies in China and outlines the key regulations affecting them Reasons to buy Make strategic business decisions using historic and forecast market data related to the Chinese life insurance segment and each sector within it Understand the demand-side dynamics, key trends and growth opportunities within the Chinese life insurance segment Assess the competitive dynamics in the life insurance segment, along with the reinsurance segment Identify the growth opportunities and market dynamics within key product categories Gain insights into key regulations governing the Chinese insurance industry and its impact on companies and future trends in the industry Key highlights The life insurance segment is going through a sluggish phase, marred by uncertain economic growth and Life Insurance in China, Key Trends and Opportunities to 2017
  2. 2. volatile market conditions. The ongoing tightening of regulation by the China Insurance Regulatory Commission (CIRC) is also acting as a hindrance to growth. Despite the pressures, China remains a significant opportunity for insurers given the largely underpenetrated nature of the life insurance segment. The life segment accounted for 59.7% of the country’s insurance industry in 2012. The segment is concentrated with 96% of the total life segment premium in 2012 distributed among domestic insurers. The long-term growth potential remains encouraging given China’s low insurance penetration, rising income levels and aging population. table Of Contents 1 Executive Summary 2 Introduction 2.1 What Is This Report About? 2.2 Definitions 2.3 Methodology 3 Regional Market Dynamics 3.1 Overview 3.1.1 Market Trends 3.1.2 Market Size 4 Life Insurance 4.1 Scale And Penetration 4.1.1 Total Gross Written Premium 4.1.2 Premium Per Capita 4.1.3 Life Insurance Penetration (as A Percentage Of Gdp) 4.2 Growth 4.2.1 Gross Written Premium 4.2.2 Gross Written Premium Per Capita 4.3 Efficiency And Risk 4.3.1 Loss Ratio 4.3.2 Combined Ratio 4.3.3 Incurred Losses Per Capita 4.3.4 Incurred Losses As A Percentage Of Gdp 4.4 Distribution Channels 4.4.1 Direct Marketing 4.4.2 Bancassurance 4.4.3 Agencies Life Insurance in China, Key Trends and Opportunities to 2017
  3. 3. 5 Chinese Insurance Industry Attractiveness 5.1 Insurance Industry Size, 2008–2017 5.2 Key Industry Trends And Drivers 6 Life Insurance Outlook 6.1 Life Insurance Growth Prospects By Category 6.1.1 Individual Life Insurance 6.1.2 Individual General Annuity Insurance 6.1.3 Individual Endowment Insurance 6.1.4 Individual Unit-linked Insurance 6.1.5 Individual Term Life Insurance 6.1.6 Group Life Insurance 6.1.7 Group Superannuation Insurance 6.2 Life Insurance Growth Prospects By Product Type 6.2.1 Individual Single-premium Policies 6.2.2 Individual Non-single-premium Policies 6.2.3 Group Single-premium Policies 6.2.4 Group Non-single-premium Policies 7 Analysis By Distribution Channel 7.1 Direct Marketing 7.2 Bancassurance 7.3 Agencies 7.4 E-commerce 7.5 Brokers 7.6 Other Channels 8 Porter’s Five Forces Analysis – Chinese Life Insurance 8.1 Bargaining Power Of Supplier: Medium 8.2 Bargaining Power Of Buyer: Low 8.3 Barriers To Entry: Medium To High 8.4 Intensity Of Rivalry: Medium To High 8.5 Threat Of Substitutes: Low 9 Reinsurance Growth Dynamics And Challenges 9.1 Reinsurance Segment Size, 2008–2017 9.2 Reinsurance Segment Size By Type Of Insurance, 2008–2017 Life Insurance in China, Key Trends and Opportunities to 2017
  4. 4. 10 Governance, Risk And Compliance 10.1 Legislation Overview And Historical Evolution 10.2 Legislation Trends By Type Of Insurance 10.2.1 Life Insurance Regulatory Trends 10.2.2 Property Insurance Regulatory Trends 10.2.3 Liability Insurance Regulatory Trends 10.2.4 Motor Insurance Regulatory Trends 10.2.5 Marine, Aviation And Transit Insurance Regulatory Trends 10.2.6 Personal Accident Insurance Regulatory Trends 10.2.7 Health Insurance Regulatory Trends 10.3 Compulsory Insurance 10.3.1 Third-party Motor Insurance 10.3.2 Compulsory Environmental Insurance 10.4 Supervision And Control 10.4.1 International Association Of Insurance Supervisors (iaias) 10.4.2 China Insurance Regulatory Commission (circ) 10.5 Non-admitted Insurance Regulatory Trends 10.5.1 Overview 10.5.2 Intermediaries 10.5.3 Market Practices 10.5.4 Fines And Penalties 10.6 Company Registration And Operations 10.6.1 Types Of Insurance Organization 10.6.2 Establishing A Local Company 10.6.3 Foreign Ownership 10.6.4 Types Of License 10.6.5 Capital Requirements 10.6.6 Solvency Margins 10.6.7 Reserve Requirements 10.6.8 Investment Regulation 10.6.9 Policy Terms And Conditions 10.7 Taxation 10.7.1 Insurance Premium Or Policy Taxation 10.7.2 Corporate Tax 10.7.3 Vat 10.7.4 Captives 10.8 Legal System 10.8.1 Introduction 10.8.2 Access To Courts 10.8.3 Alternative Dispute Resolution (adr) Life Insurance in China, Key Trends and Opportunities to 2017
  5. 5. 11 Competitive Landscape And Strategic Insights 11.1 Overview 11.2 Leading Companies In The Chinese Life Insurance Segment 11.3 China Life Insurance Company Ltd – Company Overview 11.3.1 China Life Insurance Company Ltd – Key Facts 11.3.2 China Life Insurance Company Ltd – Key Financials 11.4 Ping An Life Insurance Company Of China, Ltd – Company Overview 11.4.1 Ping An Life Insurance Company Of China, Ltd – Key Facts 11.4.2 Ping An Insurance (group) Company Of China, Ltd – Key Financials 11.5 New China Life Insurance Co. Ltd – Company Overview 11.5.1 New China Life Insurance Co. Ltd – Key Facts 11.5.2 New China Life Insurance Co. Ltd – Key Financials 11.6 China Pacific Insurance (group) Co., Ltd – Company Overview 11.6.1 China Pacific Insurance (group) Co., Ltd – Key Facts 11.6.2 China Pacific Insurance (group) Co., Ltd – Key Financials 11.7 Picc Life – Company Overview 11.7.1 Picc Life – Key Facts 11.7.2 Picc Life – Key Financials 11.8 Taikang Life Insurance Co., Ltd – Company Overview 11.8.1 Taikang Life Insurance Co., Ltd – Key Facts 11.8.2 Taikang Life Insurance Co., Ltd – Key Financials 11.9 Taiping Life Insurance Company Ltd – Company Overview 11.9.1 Taiping Life Insurance Company Ltd – Key Facts 11.9.2 Taiping Life Insurance Company Ltd – Key Financials 11.1 Sino Life Insurance Co., Ltd – Company Overview 11.10.1 Sino Life Insurance Co., Ltd – Key Facts 11.10.2 Sino Life Insurance Co., Ltd – Key Financials 11.11 Sunshine Insurance Group Co., Ltd – Company Overview 11.11.1 Sunshine Insurance Group Co., Ltd – Key Facts 11.11.2 Sunshine Insurance Group Co., Ltd – Key Financials 11.12 China Post Life Insurance Company Ltd – Company Overview 11.12.1 China Post Life Insurance Company Ltd – Key Facts 11.12.2 China Post Life Insurance Company Ltd – Key Financials 12 Business Environment And Country Risk 12.1 Business Confidence 12.1.1 Market Capitalization Trend – Shanghai Stock Exchange, China 12.2 Economic Performance 12.2.1 Net Foreign Direct Investment 12.2.2 Gdp At Constant Prices (us$) 12.2.3 Gdp Per Capita At Constant Prices (us$) 12.2.4 Gdp At Current Prices (us$) Life Insurance in China, Key Trends and Opportunities to 2017
  6. 6. 12.2.5 Gdp Per Capita At Current Prices (us$) 12.2.6 Gdp By Key Segments 12.2.7 Agriculture, Hunting, Forestry And Fishing Net Output At Current Prices (us$) 12.2.8 Agriculture, Hunting, Forestry And Fishing Net Output At Current Prices As A Percentage Of Gdp 12.2.9 Manufacturing Net Output At Current Prices (us$) 12.2.10 Manufacturing Net Output At Current Prices As A Percentage Of Gdp 12.2.11 Mining, Manufacturing And Utilities At Current Prices (us$) 12.2.12 Mining, Manufacturing And Utilities At Current Prices As A Percentage Of Gdp 12.2.13 Construction Net Output At Current Prices, (us$) 12.2.14 Construction Net Output At Current Prices As A Percentage Of Gdp 12.2.15 Inflation Rate 12.2.16 Current Account Balance As A Percentage Of Gdp 12.2.17 Exports As A Percentage Of Gdp 12.2.18 Imports As A Percentage Of Gdp 12.2.19 Exports Growth 12.2.20 Imports Growth 12.2.21 External Debt As A Percentage Of Gdp 12.3 Infrastructure Quality And Availability 12.3.1 Commercial Vehicles Exports – Total Value 12.3.2 Commercial Vehicles Imports – Total Value 12.3.3 Automotive Exports – Total Value 12.3.4 Automotive Imports – Total Value 12.3.5 Life Expectancy 12.3.6 Total Internet Subscribers 12.4 Labor Force 12.4.1 Unemployment Rate 12.5 Demographics 12.5.1 Household Consumption Expenditure (us$) 12.5.2 Total Population 12.5.3 Urban And Rural Populations 12.5.4 Females As A Percentage Of The Population 12.5.5 Males As A Percentage Of The Population 12.5.6 Median Age Of The Population 12.5.7 Age Distribution Of The Total Population 12.5.8 Number Of Households 13 Appendix 13.1 Methodology 13.2 Contact Timetric 13.3 About Timetric 13.4 Timetric’s Services 13.5 Disclaimer Life Insurance in China, Key Trends and Opportunities to 2017
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