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|
|
Chinese
Insurance Companies |
|
Company |
Founded |
Headquaters |
Registerd-capitals (billion yuan) |
1996 Premium income (billion yuan) |
|
PICC Group |
1949 |
Beijing |
20 |
63.4* |
|
People's Insurance (Property) |
1996 |
Beijing |
2 |
35 |
|
People's Insurance (Life) |
1996 |
Beijing |
1.5 |
21.2 |
|
People's Insurance (Reinsurance) |
1996 |
Beijing |
2 |
7.2 |
|
Pacific Insurnace |
1991 |
Shanghai |
2 |
9.82 |
|
Ping An |
1998 |
Shenzhen |
1.5 |
10.5 |
|
Huatai General Insurance |
1986 |
Beijing |
1.33 |
- |
|
Xinhua Life Insurance |
1996 |
Beijing |
0.5 |
0.26 |
|
Tai Kang Life Insurance |
1996 |
Beijing |
0.6 |
0.147 |
|
XinJiang Corps Insurance |
1986 |
Urumqi |
0.1 |
0.24 |
|
TianAn |
1994 |
Shanghai |
0.2 |
0.3 |
|
Da Zhong |
1995 |
Shanghai |
0.21 |
0.2 |
|
Yong An General Insurance |
1996 |
Xi An |
0.68 |
-- |
|
Sinosafe General Insurance |
1996 |
Shenzhen |
0.3 |
-- |
* 1996 premium income for the PICC Group excludes the company’s nine overseas
branches but includes figures for the group's three subsidiaries-People's
Insurance (Property) Co., People's Insurance (Life) Co. and People's Insurance
(Reinsurance) Co. Total premium income from the nine overseas branches
was over four billion yuan in 1996. Sources:
Exhibit
2
Foreign Insurance Companies in China
Sources: Ji Chen and Stephen C. Thomas; US Government, International Market Insight,
August, 1998; The US-China Business Council. Exhibit
3
|
| Company | No. of cities | Company | No. of cities |
| Aetna | 2 | AGF | 1 |
| Allianz | 2 | AIG | 2 |
| AIA | 2 | American Re | 1 |
| AXA | 1 | Londin Life | 1 |
| CIGNA | 1 | Colonial Mutual | 1 |
| Commercial Union | 1 | Daiichi Mutual | 1 |
| Eagle Star | 2 | GAN | 1 |
| General Accident | 1 | ING | 4 |
| Jardines (CMG) | 2 | John Hancock | 1 |
| Manulife | 5 | Metropolitan Life | 1 |
| National Mutual | 1 | Nippon Life | 2 |
| Principal Mutual | 1 | Prundential Assurance | 3 |
| Sumitomo Mutual | 1 | Sun Alliance | 2 |
| Sun Life | 2 | Toho Mutual | 1 |
| Transanerica | 1 | Travellers | 1 |
| UAP | 1 | Unipol | 1 |
| Winterthur | 4 | Zurich | 1 |
Source: Woodrow Milliman, 1998
“AIG reaches GuangZhou”,
http://www3.xls.com/cgi-bin/
1998
|
Year |
Total Premiums (billions of US$) |
|
1991 |
282.00 |
|
1992 |
564.00 |
|
1993 |
1,184.40
|
|
1994 |
2,250.36
|
|
1995 |
4,500.72
|
|
1996 |
8,551.37
|
|
1997 |
13,000.00
|
|
1998 |
15,520.00
|
|
1999 |
17,412.50
|
Exhibit
5: Company Shares of the Chinese Insurance Market (1996)
| People's Property Insurance |
35.00 |
|
People's Life Insurance |
21.20 |
|
People's ReInsurance |
7.20 |
|
Pacific Insurance |
9.82 |
|
PingAn Insurance |
-
|
|
Hua Tai General Insurance |
0.26 |
|
XinHua Life Insurance |
0.15 |
|
TaiKang Life Insurance |
0.24 |
|
XinJiang Insurance |
0.30 |
|
Da Zhong Insurance |
0.20 |
|
YongAn General Insurance |
-
|
|
SinoSafe General Insurance |
-
|
Exhibit
6: Foreign and Domestic Company Market Share in Shanghai (1996 and
1997)
| Year |
Foreign Companies |
Domestic Companies |
|
1996 |
20% |
80% |
|
1997 |
7% |
93% |
Exhibit
7: Zhangzhou Property Insurance Market Forecast
| Year |
GNP(billion
Yuan) in Zhangzhou |
Total
population (million) |
Per
capita income for rural area (Yuan) |
Market
potential in terms of insurance penetration |
Market
potential in terms of insurance density |
|
1997 |
222.66 |
7.556 |
2034 |
1.48 |
2.4 |
|
2000 |
290 |
8.00 |
3000 |
2.1 |
3.99 |
| 2010 |
900 |
8.75 |
10000 |
6.42 |
14.57 |