PRZOOM - /newswire/ -
Delhi, New Delhi, India, 2008/02/22 - The growing incidents of accidents, natural calamities, diseases, and robbery have given rise to increased need for insurance.
China, the country with the largest population and dynamically growing economy, is seeing a stir in its insurance industry. China’s insurance industry is scaling new heights with each passing year. All the industry players are working hard to fortify their position in the Chinese insurance industry and various industry players are looking to tap the opportunity. To evaluate the Chinese insurance industry comprehensively, the leading research firm RNCOS has come up with its latest report “China Insurance Sector till 2010”. The report focuses on the growing marketplace for insurance industry in China and analyzes the current market trends, evolving market and growth prospects of the insurance industry.
This report will help clients to analyze the leading-edge opportunities critical to the success of the insurance industry at global level as well as in China. After seeing slowdown in growth rate in 2004, the global insurance industry has recovered somewhat from the ongoing effects of America's 'War on Terror' and the immediate impact of tightening regulation. According to the report, globally, inflation-adjusted premiums jumped by 5% in 2006 from 2005.
But the focus of this report is on the China insurance industry, which is divided into Life, Non-life and Reinsurance. So the Chinese insurance sector consists of companies providing life and non-life insurance, whether in domestic or foreign ownership. Insurance sector picture in China is very rosy due to favorable market conditions such as high economic growth, China’s accession to the WTO and 2004 reforms that made the entry of foreign players far easier. The insurance growth is forecasted on the basis of current market trends, drivers, barriers, and business development issues.
CNY or RMB represents the Chinese Yuan.
Key Issues & Facts Analyzed
- What is the difference between emerging and developed insurance industries?
- Which forces are working in favor and which ones are hindering the market growth?
- What is the landscape of life and non-life insurance industries in China?
- What opportunities exist for the insurance players in China insurance industry?
- What regulatory reforms have been introduced in the Chinese insurance industry?
- What is the market position of the reinsurance industry in China?
Research Methodology Used
The information has been sourced from authentic and reliable sources like books, newspapers, trade journals and white papers, industry portals, government agencies, trade associations, monitoring industry news and developments, and access to more than 3000 paid databases.
Methods like ratio analysis, historical trend analysis, linear regression analysis using software tools, judgmental forecasting, and cause and effect analysis have been used in the report for rational analysis.
RNCOS, incorporated in the year 2002, is an industry research firm. It has a team of industry experts who analyze data collected from credible sources. They provide industry insights and analysis that helps corporations to take timely and accurate business decision in today's globally competitive environment.