Non-Life Insurance in China, Key Trends and Opportunities to 2016: The Introduction of Mandatory Motor Insurance and Rising Vehicle Ownership is Driving Market Growth

Synopsis

The report provides top-level market analysis, information and insights into the Chinese non-life insurance market, including:

• The Chinese non-life insurance market’s growth prospects by non-life insurance categories
• The various distribution channels in the Chinese non-life insurance market
• The competitive landscape in the non-life insurance market in China
• A description of the non-life reinsurance market in China

Summary

Despite the global financial crisis, the Chinese non-life insurance market continued to grow at a healthy rate during the 2007–2011 review period. The market is, at present, dominated by domestic insurers, with foreign non-life insurers accounting for a negligible share of the overall non-life insurance written premium. Large domestic insurers are expected to dominate the market over the forecast period, while smaller operators are expected to gradually increase their market share. Although the Chinese non-life insurance market recorded rapid growth over the review period, it remains largely underpenetrated.

Scope

This report provides a comprehensive analysis of the non-life insurance market in China:

• It provides historical values for China’s non-life insurance market for the report’s 2007–2011 review period and forecast figures for the 2012–2016 forecast period
• It offers a detailed analysis of the key sub-segments in China’s non-life insurance market, along with market forecasts until 2016
• 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 non-life insurance products in China
• Using Porter’s industry-standard “Five Forces” analysis, it details the competitive landscape in China for the non-life insurance business
• It provides a detailed analysis of the reinsurance market in China and its growth prospects
• It profiles the top non-life insurance companies in China, and outlines the key regulations affecting them

Reasons To Buy

• Make strategic business decisions using top-level historic and forecast market data related to the Chinese non-life insurance market and each sector within it
• Understand the demand-side dynamics, key market trends and growth opportunities within the Chinese non-life insurance market
• Assess the competitive dynamics in the non-life insurance market, 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 market and its impact on companies and the market's future

Key Highlights

• Although the Chinese non-life insurance market recorded rapid growth over the review period, it remains largely underpenetrated because of various limitations, including low product awareness, low penetration in rural areas and a lack of a robust distribution model
• Of all the categories in the Chinese non-life insurance market, automobile insurance is the market leader, representing 71.8% of the market in 2011
• Property insurance was the second-largest category in the non-life insurance market, accounting for 22.16% of the total non-life insurance written premium in 2011
• Over the forecast period, growth in the non-life market will be driven by the development of the automobile industry and active property and real estate markets in underdeveloped Chinese provinces. These projects will require innovative, customized insurance products
• The Chinese non-life insurance market is highly concentrated, with the top eight companies accounting for 88.5% of the total retained premiums in 2010. The share of domestic companies as compared to foreign companies has been high, and the top eight non-life companies in the Chinese insurance industry are domestic companies