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Foreign insurers grab 20% market share in Shanghai

By Song Hongmei (chinadaily.com.cn)
Updated: 2007-02-28 09:36

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Foreign-funded insurance companies held as much as a 19.17-percent share of the insurance market in China's financial hub Shanghai in 2006, according to data from the Shanghai Bureau of the China Insurance Regulatory Commission.

Shanghai raked in 40.7 billion yuan (US$5.25 billion) in insurance premiums in 2006, including 10.52 billion yuan from property insurance companies and 30.18 billion yuan from life insurance companies.

Foreign-funded insurers in Shanghai collected 7.8 billion yuan in premiums, up 34 percent year on year; and their market share reached 19.17 percent.

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The full text is available in the February Issue ofChina Insurance.