Foreign insurers develop quickly in China
By Shangguan Zhoudong (chinadaily.com.cn)Updated: 2007-01-08 08:44 China Insurance Regulatory Commission (CIRC), there are currently 47 foreign insurance companies from 15 countries in the Chinese mainland. Also, more than 135 insurance institutions have set up over 200 representative offices in the Chinese mainland.
As of the end of October 2006, the insurance premiums collected by foreign insurance companies increased to 34.12 billion yuan (US$4.37 billion) from 3.33 billion yuan five years ago, and the market share of foreign insurance companies in terms of premiums increased to 6.92 percent, 5.34 percentage points higher than that prior to China's entry into the World Trade Organization (WTO).
Foreign insurers' market shares in Beijing, Shanghai and Shenzhen cities, and Guangdong Province reached 19.43, 17.37, 10.14 and 8.86 percent, respectively.
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The full text is available in the January Issue of China
Insurance.
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