October 14th, 2009 
youhan Refers to China from the Qing Dynasty before the Opium War, to The People’s Republic of China before the establishment of the insurance industry.
China’s modern form of insurance industry in the Western capitalism that emerged after the invasion of China. The first foreign insurance companies established in China, is before the Opium War in 1835 by the British set up in Guangzhou ocean Hirohito security line. Later, Guangzhou, Shanghai and other treaty ports also start to appear and a number of foreign insurance companies. These companies mainly engaged in the commodity distribution services, marine insurance, 19 century, 60 years later, was extended to the fire. Sino-Japanese War, along with the export of capital to China, the United States, France, Germany, Japan, China and other countries insurance companies have set up a company or agency. 1936, 15 countries, more than 160 registered insurance companies operating in China.
China’s own business insurer in order to Guangxu eleven years (1885) Merchants Steam Navigation Company founded by Ren-Ji and the two insurance companies with the earliest. In 1886 the two companies merged to Yan Chai and insurance companies, became the first Chinese business insurance industry.
During World War I, the West engaged in a war of imperialism, China’s national industry and commerce to obtain an opportunity to develop the insurance industry has seen rapid development. In addition to an insurance company this time, there are some large commercial companies concurrently insurance industry. If Sincere 1915 and 1922, the company has facilities in Shanghai and the establishment of the first insurance companies and buy products Sincere Life Insurance Company, and to set up branches in Guangzhou; Wing in 1916 set up water and fire insurance companies in Hong Kong, and subsequently in Shanghai , Hankou, Guangzhou expansion. Control over these companies through the insurance industry and commerce, and to absorb a wide range of social capital.
After 1926, China’s insurance company mainly invested by the bank to open. These companies rely on the strength of banks to establish branches throughout the country, company or agent by the bank. To 1936, Chinese business insurance has reached 40, though developing rapidly, but the business can not get rid of foreign companies on the control and domination, had to a large number of insurance business through reinsurance, be transferred to foreign companies or foreign insurance companies. Premium income in 1936 nationwide, an estimated 80% of foreign companies.
During and after the victory of Anti-Japanese War, because of the hyperinflation, so that insurance companies to take advantage of the insurance fund hoarding goods and materials, as well as real estate, gold and silver currency speculation, the insurance industry to leave the track.
After the founding of the People’s Republic in 1949, People’s Government to rectify and reform the insurance industry: In addition to take over the bureaucratic capital of insurance companies, private insurance companies on a voluntary basis, to be merged, and in October 1949 setting up the China People’s Insurance Company. Foreign insurance company to withdraw from China at the end of 1952. In recent years, China’s GDP growth has been maintained at about 10% in 2007 GDP growth is expected to continue to remain at around 10%, comprehensively promote the building of a harmonious socialist society, economic and financial situation of steady development, capital market development has entered a new era, the State Council No. 23 The paper further implemented, these favorable conditions for the development of the insurance industry is extremely rare development environment and opportunities.
With the full liberalization of trade, foreign life insurance companies have moved into the domestic market. Can not currently pose a threat to the domestic several big giants, but the competition will become increasingly fierce. In order to catch up with old Chinese-funded insurance companies nationwide marketing network, foreign-funded insurance (including joint ventures) Company in 2007, will be the rapid expansion of its network. This rivalry, will also be in product innovation, service upgrades, the use of such funds has shown most vividly. In contrast, in 2007 the Chinese-funded insurance companies is the key to years of hard face a challenge. To broaden the financing channels for internal preparations for listing, to meet the accession to the WTO five years after the external foreign insurance experience and technology challenges.
Currently there are insurance professional intermediaries 2110, and industry, agencies 141,000, insurance marketers 1.558 million people in 2006 realized investment gains and 95.53 billion yuan, the highest level in nearly three years. Nationwide Insurance through insurance intermediaries to achieve premium income of 447.75 billion yuan, accounting for the total premium income accounting for 79%. With the arrival of the demographic dividend period, the reform of public pension system, giving birth to the golden period of development of commercial life; the stock market bullish expectations, investment channels for insurance assets increasingly turn release significant expansion of opportunities for development.
With the 2008 Olympic Games approaching, China’s insurance market with potential for further increases, the insurance industry are bright prospects for future development. With economic development, the State, enterprises and the growing wealth of households, the community of property insurance demand will grow increasingly stronger. In particular, as the pace car to enter households gradually accelerate as the first major property and casualty insurance, auto insurance is no doubt a good development prospects for the development of the property and casualty insurance, “insurance.” Life insurance business is an important component of China’s insurance business, with the advance of China’s urbanization process, residents raise the level of per capita income and insurance awareness to enhance the purchase of commercial life insurance and the amount of the number of personnel will be substantial growth and longevity insurance, health insurance and accident insurance market, the prospects are very broad. 2010, the National Insurance revenues will double in 2005, exceeded 1 trillion yuan, insurance, depth (GDP, the proportion of premium income) 4%, insurance density (premiums per capita income) 750 yuan, to consider to the market the main increase in breakthrough product innovation and policy factors such as total managed assets of the insurance industry is expected to reach more than 5 trillion yuan.
The research consultancy report is based on National Bureau of Statistics, the State Council Development Research Center, China’s socio-economic Survey Research Center, China Insurance Association, the China Insurance Regulatory Commission, provincial insurance regulatory, economic climate monitoring center to provide a lot of information on China’s Insurance development of the market conditions and supply and demand conditions, insurance, competition pattern, development trends are analyzed, the insurance industry investment in areas such as in-depth discussions; but also on the China Life Insurance (Group) Company, PICC Property and Casualty Company Limited, China Ping An insurance company, American International Assurance Co., Ltd., enterprise development overview, development strategy
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