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Life Insurance in China, Key Trends and Opportunities to 2020

Synopsis

Timetric’s 'Life Insurance in China, Key Trends and Opportunities to 2020' report provides detailed analysis of the market trends, drivers and challenges in the Chinese life insurance segment.

It provides key performance indicators such as written premium, incurred loss, loss ratio, commissions and expenses, total assets, total investment income and retentions during the review period (2011–2015) and forecast period (2015–2020).

The report also analyzes distribution channels operating in the segment, gives a comprehensive overview of the Chinese economy and demographics, and provides detailed information on the competitive landscape in the country.

The report brings together Timetric’s research, modeling and analysis expertise, giving insurers access to information on segment dynamics and competitive advantages, and profiles of insurers operating in the country. The report also includes details of insurance regulations, and recent changes in the regulatory structure.

Summary

Timetric’s 'Life Insurance in China, Key Trends and Opportunities to 2020' report provides in-depth market analysis, information and insights into the Chinese life insurance segment, including:

  • The Chinese life insurance segment’s growth prospects by life insurance category
  • Key trends, drivers and challenges for the life insurance segment
  • A comprehensive overview of the Chinese economy and demographics
  • The various distribution channels in the Chinese life insurance segment
  • Details of the competitive landscape in the life insurance segment in China
  • Details of regulatory policy applicable to the Chinese insurance industry
Scope

This report provides a comprehensive analysis of the life insurance segment in China:
  • It provides historical values for the Chinese life insurance segment for the report’s 2011–2015 review period, and projected figures for the 2015–2020 forecast period.
  • It offers a detailed analysis of the key categories in the Chinese life insurance segment, and market forecasts to 2020.
  • It analyzes the various distribution channels for life insurance products in China.
  • It profiles the top life insurance companies in China and outlines the key regulations affecting them.
Reasons To Buy
  • Make strategic business decisions using in-depth historic and forecast market data related to the Chinese life insurance segment, and each category within it.
  • Understand the demand-side dynamics, key market trends and growth opportunities in the Chinese life insurance segment.
  • Assess the competitive dynamics in the life insurance segment.
  • Identify growth opportunities and market dynamics in key product categories.
  • Gain insights into key regulations governing the Chinese insurance industry, and their impact on companies and the industry's future.
Key Highlights
  • At the end of 2016, China overtook Japan to become the world’s second-largest insurance market, after the US.
  • The China Insurance Regulatory Commission (CIRC) increased the guaranteed interest-return cap from 2.5% to 3.5% for traditional and participating products in October 2015. In September 2016, the return cap was reduced to 3.0% for universal products.
  • In June 2016, the government established the Shanghai Insurance Exchange (SHIE), China’s first insurance exchange platform. In September 2016, the CIRC allowed Chinese insurers to invest in Hong Kong shares through the Shanghai-Hong Kong Stock Connect program.
  • In January 2016, 46 corporate entities, including 27 domestic insurers and 15 insurance asset-management companies, formed the China Insurance Investment Company to invest in infrastructure and transport projects.
  • In July 2016, the CIRC issued licenses to HeTai Life Insurance, the first online-only life insurer in China; it received approval to start operations in January 2017.
  • In June 2016, the CIRC approved the establishment of three mutual insurance associations for the first time.


  • Key Facts and Highlights
    • Table Chinese Life Insurance – Key Facts, 2015
    • Table Chinese Life Insurance – Segment Shares of the Top Insurers, 2015
  • Executive Summary
  • Economy and Demographics
    • Table Chinese Government Credit Ratings
  • Segment Outlook
    • Regional Comparison
    • Segment Indicators
      • Gross written premium and penetration
        • Table Chinese Life Insurance – Gross Written Premium (CNY Billion and US$ Billion), 2011–2015
        • Table Chinese Life Insurance – Penetration (%), 2011–2015
        • Table Chinese Life Insurance – Gross Written Premium (CNY Trillion and US$ Billion),2015–2020
        • Table Chinese Life Insurance – Penetration (%), 2015–2020
        • Table Chinese Life Insurance – New Business Direct Written Premium (CNY Billion and US$ Billion), 2011–2015
        • Table Chinese Life Insurance – New Business Direct Written Premium (CNY Billion and US$ Billion), 2015–2020
        • Table Chinese Life Insurance – Premium per Capita (CNY and US$), 2011–2015
        • Table Chinese Life Insurance – Premium per Capita (CNY and US$), 2015–2020
      • Claims
        • Table Chinese Life Insurance – Paid Claims (CNY Billion and US$ Billion), 2011–2015
        • Table Chinese Life Insurance – Paid Claims (CNY Billion and US$ Billion), 2015–2020
      • Assets and investments
        • Table Chinese Life Insurance – Total Assets (CNY Trillion and US$ Billion), 2011–2015
        • Table Chinese Life Insurance – Total Assets (CNY Trillion and US$ Trillion), 2015–2020
        • Table Chinese Life Insurance – Total Investment Income (CNY Billion and US$ Billion), 2011–2015
        • Table Chinese Life Insurance – Total Investment Income (CNY Billion and US$ Billion), 2015–2020
        • Table Chinese Life Insurance – Investment Portfolio (CNY Billion), 2011–2015
        • Table Chinese Life Insurance – Investment Portfolio (CNY Billion), 2015–2020
  • Outlook by Sub-Segment
    • Table Chinese Life Insurance – Direct Written Premium by Sub-Segment (CNY Billion), 2011–2015
    • Table Chinese Life Insurance – Direct Written Premium by Sub-Segment (CNY Billion), 2015–2020
    • Individual Life Insurance
      • Premium
        • Table Chinese Individual Life Insurance – Direct Written Premium by Category (CNY Billion), 2011–2015
        • Table Chinese Individual Life Insurance – Direct Written Premium by Category (CNY Billion), 2015–2020
      • Penetration
    • Group Life Insurance
      • Premium
        • Table Chinese Group Life Insurance – Direct Written Premium by Category (CNY Billion), 2011–2015
        • Table Chinese Group Life Insurance – Direct Written Premium by Category (CNY Billion), 2015–2020
      • Penetration
  • Distribution Channel Outlook
    • Analysis by Distribution Channel
      • Table Chinese Life Insurance – New Business Direct Written Premium by Distribution Channel (CNY Billion), 2011–2015
      • Table Chinese Life Insurance – New Business Direct Written Premium by Distribution Channel (CNY Billion), 2015–2020
      • Table Chinese Life Insurance – Percentage of New Business Direct Written Premium, by Distribution Channel, 2011–2020
  • Competitive Landscape
    • Table Chinese Life Insurance – Segment Shares of the Leading Insurers (%), 2015
    • Company Profiles
      • China Life Insurance Co. Ltd – company overview
        • Table China Life Insurance Co. Ltd – Key Facts
        • Table China Life Insurance Co. Ltd – Key Financials (CNY Billion), 2011–2015
      • China Ping An Life Insurance Co. Ltd – company overview
        • Table China Ping An Life Insurance Co. Ltd – Key Facts
        • Table China Ping An Life Insurance Co. Ltd – Key Financials (CNY Billion), 2011–2015
      • New China Life Insurance Co. Ltd – company overview
        • Table New China Life Insurance Co. Ltd – Key Facts
        • Table New China Life Insurance Co. Ltd – Key Financials (CNY Billion), 2011–2015
      • China Pacific Life Insurance Co. Ltd – company overview
        • Table China Pacific Life Insurance Co. Ltd – Key Facts
        • Table China Pacific Life Insurance Co. Ltd – Key Financials (CNY Billion), 2011–2015
      • PICC Life Insurance Co. Ltd – company overview
        • Table PICC Life Insurance Co. Ltd – Key Facts
        • Table PICC Life Insurance Co. Ltd – Key Financials (CNY Billion), 2011–2015
  • Governance, Risk and Compliance
    • Table China – Insurance Regulatory Framework Key Features
    • Legislation Overview and Historical Evolution
    • Latest Changes in Regulation
    • Legislation and Market Practice by Type of Insurance
      • Life insurance
        • Table China – Life Insurance Regulatory Framework
      • Property insurance
        • Table China – Property Insurance Regulatory Framework
      • Motor insurance
        • Table China– Motor Insurance Regulatory Framework
        • Table China– Motor Insurance Regulatory Framework
      • Liability insurance
        • Table China – Liability Insurance Regulatory Framework
      • Marine, aviation and transit insurance
      • Personal accident and health insurance
    • Compulsory Insurance
      • Motor third-party liability insurance
      • Environmental liability insurance
      • Social security system
      • Aviation liability insurance
    • Supervision and Control
      • International Associations of Insurance Supervisors
      • China Insurance Regulatory Commission
    • Non-Admitted Insurance Regulations
      • Overview
      • Intermediaries
      • Market practices
      • Fines and Penalties
    • Company Registration and Operations
      • Type of insurance organization
      • Establishing a local company
      • Foreign ownership
      • Types of license
      • Capital requirements
      • Solvency margin
      • Reserve requirements
      • Investment regulations
      • Statutory return requirements
      • Fee structure
    • Taxation
      • Insurance premium or policy taxation
      • Withholding taxes on premium paid overseas
      • Corporate tax
        • Table China – Corporate Tax Rates for the Financial Year 2017
      • VAT
      • Captives
    • Legal System
      • Introduction
      • Access to court
      • Alternative dispute resolution
  • Databook
    • Policies and Premium
      • Table Chinese Life Insurance – Policies and Premium, 2011–2015
      • Table Chinese Life Insurance – Policies and Premium, 2015–2020
    • Claims and Expenses
      • Table Chinese Life Insurance – Claims and Expenses, 2011–2015
      • Table Chinese Life Insurance – Claims and Expenses, 2015–2020
    • Assets and Investments
      • Table Chinese Life Insurance – Assets and Investments, 2011–2015
      • Table Chinese Life Insurance – Assets and Investments, 2015–2020
    • Direct Marketing and E-Commerce
      • Table Chinese Life Insurance – Direct Marketing and E-Commerce, 2011–2015
      • Table Chinese Life Insurance – Direct Marketing and E-Commerce, 2015–2020
    • Insurance Brokers and Agencies
      • Table Chinese Life Insurance – Insurance Brokers and Agencies, 2011–2015
      • Table Chinese Life Insurance – Insurance Brokers and Agencies, 2015–2020
    • Bancassurance and Other Distribution Channels
      • Table Chinese Life Insurance – Insurance Brokers and Agencies, 2011–2015
      • Table Chinese Life Insurance – Insurance Brokers and Agencies, 2015–2020
    • Individual Life Insurance
      • Table Chinese Life Insurance – Individual Life Insurance, 2011–2015
      • Table Chinese Life Insurance – Individual Life Insurance, 2015–2020
    • Individual Life Insurance by Product
      • Table Chinese Life Insurance – Individual Life Insurance by Product, 2011–2015
      • Table Chinese Life Insurance – Individual Life Insurance by Product, 2015–2020
    • Group Life Insurance
      • Table Chinese Life Insurance – Group Life Insurance, 2011–2015
      • Table Chinese Life Insurance – Group Life Insurance, 2015–2020
    • Linked vs Non-Linked Policies
      • Table Chinese Life Insurance – Linked vs Non-Linked Policies, 2011–2015
      • Table Chinese Life Insurance – Linked vs Non-Linked Policies, 2015–2020
  • Definitions and Methodology
    • Definitions
      • Table Insurance Industry Definitions
    • Methodology
  • About Timetric
    • Contact Timetric
    • About Timetric
    • Timetric's Services
    • Disclaimer

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