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Foreign Insurers make their presence felt in the Insurance Sector in China
Sep 27, 2006
Foreign insurers have observed stable growth in the China insurance sector and enjoy an average share of 6% throughout China’s insurance market. Competition is fair in the insurance market in China and both domestic as well as foreign insurers are thriving together. Healthy competition between domestic and foreign players will surely help boost the insurance sector in China.
At present, there’re more than forty overseas insurance companies operating in this sector. These companies are equipped with advanced methods of management, and will contribute largely to the strong growth of the insurance sector in China.
With the government of China authorizing insurers for investing in projects for urban development, new channels have opened up for the growth of investment in the country. Consequently, new regulations need to be issued for preventing risks associated with it. CIRC, which is Chinese insurance market’s supervisory body, needs to make supervision system of China better to make sure that the market is consistent and able for further expansion.
In its recently published market research report, “China Insurance Sector Analysis (2006)”, RNCOS has provided a comprehensive analysis of every aspect of China Insurance Sector.
According to this report, “At the time of China entering the WTO, foreign insurance companies could only find their way in Guangzhou, Shanghai, Dalian, Foshan, and Shenzhen. Within 2-years of admittance, China opened its Chengdu, Beijing and other smaller but developed cities for foreign insurers. And, by the third anniversary (Dec ’04) of China joining WTO regional limitations were also lifted to allow foreign insurers to operate in the entire country”.
RNCOS research report addresses the following issues and facts:
- Emerging trends and latest technologies in the Chinese Insurance Sector.
- Future prospect of the Insurance market in China.
- Key players in this sector.
- Key Strategies for market players.
- Opportunities and Challenges before the Chinese insurance industry.
- Factors affecting the economy of the country.
- Tactic for the growth of insurance sector in China.
The report is intended for
- Decision-makers having interest in the insurance industry in China.
- Investors, researchers, consultants and individuals keen on investing in the China insurance market.
For more information visit: http://www.rncos.com/Report/IM069.htm
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