:

" " -

.
04 -03

2012

THE REALITY AND PROSPECTS OF THE INSURANCE INDUSTRY IN CHINA
:
:
43 2012
: /
:

aicha_benatallah@yahoo.com:

:


.
: .

Abstract : We will work in this study to examine the reality of the insurance
industry in China and its prospects, and following the development of the
insurance sector from the assets size, products, services and businesses of
this sector under the Chinese economic development, in addition we work
to discussing the status of the sector and its interaction with local and
international economic events from the Chinese economic openness stage
up to the recent global financial crisis .
Key words: insurance market and re-insurance, insurance premiums,
insurance penetration rate, insurance density, China.

:

-:

.
2008

.
:

.
:
.
:
2

-:

.1 :

1846 . 1875
Qing
1949
the People's Insurance Company of China PICC
.
1988 -1949 PICC
1988 %39.6
1998 -1980
9.7 . 1976 Xinjiang :
Corps Insurance Company Ping An Insurance Company of 1986
China China Pacific Insurance Company 1988 1991 the American
1
International Group AIG .1992
: 01 .2004 - 1986

Cuizhen Zhang China Foreign Affairs University\China, Nong Zhu (INRS-UCS, University of
Quebec\ Canada, Determinants of the Development of Insurance in China under the Globalization, P03.

2 insurance penetration rate .GDP

insurance density
.
3

Source: Swiss Reinsurance Company.

:02 . 2011

Source: China Reinsurance Group Annual Report 2011, P18.

.2 :
:

:1985 -1980
.
.
21 PICC
. 1980 460
.

Qixiang Sun, Lingyan Suo, Wei Zheng, China's Insurance Industry: Developments and Prospects,
International Insurance Markets, P 600-602.
4

 1982 1.6 GDP %500

.
1985 3.31 %27- 30 .

:1991 -1986 1985

The Farming Insurance Company of Xinjiang

..Pacific insurance companiesFICX . PICC
1992 : 14 1992

. 1995


.
-

.

.1 :
4

2000 -:
:
.
: Shanghai .Guangzhou
: 50/50
.
:
.
:
.
:
.
4

Dawei Cheng, A Strategy for opning up the Chinese insurance industry, MA in Commercial
Diplomacy Monterey Institute of International Studies, March 29, 2000, P05.
5


5
.

.2 : CIRC-:

.

.
.

-
.1 :

: 1998 120
2000 200 24.44
. 1992 202
11

3 4 .
CIRC
7
.
:03 . 2004 -1986

5 2009
.

Tony Allison, Risks and rewards in China's insurance market , Special Reports, Asia Times, February
16, 2001, 8\8\2012, on the following link: http://www.atimes.com/reports/CB16Ai01.html#top4,
7
Dawei Cheng, A Strategy for opning up the Chinese insurance industry, Ibid, P04.
6

Source: Swiss Reinsurance Company, Sigma

:04 2009

The Peoples Bank of China

:


8
.
.2 : .

: ChRC
1996 2002
9 11 46.
WTO 2001
non-life reinsurance
8

Wenli Yuan, China Insurance Market and Technology Trends 2011, July 26, 2011, 14\07\2012, on
the following link: http://www.celent.com/reports/china-insurance-market-and-technology-trends-2011

9 20
.
7

 .
%5 .
2003 Munich Re, Swiss Re, Gen Re, Lloyds,
Scor Re and Hannover Re
Re, Guy Carpenter, Benfield and Willis Re
.
ChRC 2003 4
10Central Huijin Investment Ltd
%80
.
.
:
2006 21.7 2.87
.%20 2006-2004

.%4 %9.2 .2006 -1996

2006 31.2
.

%21.9
%2

2006
CIRC

11
.
-
.1 :

WTO 2001
.

10
.
11

Xueyun Huang & Meipan Tian, China Reinsurance Market Overview, Reinsurance News, Society
of Actuaries, February 2010 Issue 67, PP 8-9.
8


.


.
:

.



12
.
.2 : 2008

7000
2000 %30
2008 . 978.4 %39.1
.
: 2009
2008 1 2009
3.91 %18.8 1.02
%10.78 . 757.6
%74.16 Property Insurance 264
%25.84 . 2010 insurance penetration rate
%3.3 43 105.4 insurance density
66 . %7.1 633.9 2008
13
.
12

Tony Allison, Risks and rewards in China's insurance market, Ibidem .

XuJinLi, YuJing, yulai, Multi-channel distribution to help the Chinese insurance industry to achieve
high performance, P 02.
13

 42 13 -2004
2008
CIRC
.
.14 01 2008 02
.
:
.
%39 2008 %14 2009

%30 2010 .
15
.
%9 -7 2020
9.5 %17.6 %16.2
2008 6.857.8 16.
CIRC 2010
17
66 .

14

XuJinLi, YuJing, yulai, Multi-channel distribution to help the Chinese insurance industry to achieve
high performance, Ibidem .
15
Wenli Yuan, China Insurance Market and Technology Trends 2011, Ibidem .
16
XuJinLi, YuJing, yulai, , Ibidem .
17
Xueyun Huang & Meipan Tian, China Reinsurance Market Overview, Ibid, P10.
10

-: 18







.
- :
18

Xiao Wen, On issues of opening China's insurance market to the rest of the world, Journal of
Zhejiang University (humanities and social sciences),Vol 30,No 05, Oct 2000, P 144.
11


.

.

.
.
.


.
.

:
1

China Reinsurance Group Annual Report 2011 .

Cuizhen Zhang, China Foreign Affairs University\China, Nong Zhu (INRS-UCS,
University of Quebec\Canada, Determinants of the Development of Insurance in
China under the Globalization.
3
Dawei Cheng, A Strategy for opning up the Chinese insurance industry, MA in
Commercial Diplomacy Monterey Institute of International Studies, March 29, 2000.
4
Qixiang Sun, Lingyan Suo, Wei Zheng, China's Insurance Industry: Developments
and Prospects, International Insurance Markets, PP 600-602.
5
Ron Kozlowski, Jenny Lai and Delving Cai, China's growing general insurance
market , 3\2011.
6
Tony Allison, Risks and rewards in China's insurance market , Special Reports,
Asia Times
7
Wenli Yuan, China Insurance Market and Technology Trends 2011, July 26, 2011.
8
Xiao Wen, On issues of opening China's insurance market to the rest of the world,
Journal of Zhejiang University (humanities and social sciences), Vol 30,No 05, Oct
2000.
9
Xueyun Huang & Meipan Tian, China Reinsurance Market Overview, Reinsurance
News, Society of Actuaries, February 2010 Issue 67.
10
XuJinLi, YuJing, yulai, Multi- channel distribution to help the Chinese insurance
industry to achieve high performance, Accenture global management consulting,
technology services and outsourcing company , February 2010.
2

:
China Insurance Regulatory Commission (circ)
12

http://www.circ.gov.cn/english/

Swiss Reinsurance Company

http://www.swissre.com/
:

CIRC
ChRC
PICC
WTO

China Insurance Regulatory Commission

China Reinsurance Company
People's Insurance Company of China
World Trade Organization

:
(RMB 10,000)2008 : 01
Insurance branches
Primary Insurance Premium
Income
1\Property& Casualty Insurance
2\Life & Health Insurance
1. Life Insurance
2. Health Insurance
3. Personal Accident Insurance
Enterprise Annuity
Primary Insurance Claim Payout
1.
Property
&
Casualty
Insurance

2\ Life & Health Insurance

income
97840966.41 1. Life Insurance

15528335.26
13149788.95

23367097.78
74473868.63
66583717.92
5854589.92
2035560.78
2054823.00
29711659.83
14183324.57

1752812.77
625733.54
10795228.27
80875509.19
224652161.10
334184386.70
4736396.10
3773747.90

2.Health Insurance
3.Personal Accident Insurance
Business and Management Expenses
Bank deposit
Investment
Total Assets
Entrusted Enterprise Annuity Assets
Enterprise
Annuity
Investment
Management Assets

Source: official website of CIRC

. 2010 -2006 : 02
:

Direct Written Premium

PICC
PING AN
CPIC
China United

2007
88.592
21.450
23.433
18.311

6.5 = 1
2008
2009
2010
2006 2008 2009 2010
101.656 119.464 153.930 42.5 41.6 39.9 38.2
26.751 38.483 62.116 10.3 10.9 12.9 15.4
27.817 34.228 51.529 11.2 11.4 11.4 12.8
19.125 19.440 19.336
8.8
7.8
6.5
4.8
13

3.4

3.4

3.9

4.8

13.817

10.253

9.424

10.028

China Continent

Source: Ron Kozlowski, Jenny Lai and Delving Cai, China's growing general insurance market ,
3\2011, P22.

: : Direct Written

Premium
. Net .Written

Premium .Earned Premium

14