Non-Life Insurance in China, Key Trends and Opportunities to 2020

Published: Jun, 2017 | Pages: 176 | Publisher: Timetric
Industry: Insurance | Report Format: Electronic (PDF)

Synopsis

Timetric's 'Non-Life Insurance in China, Key Trends and Opportunities to 2020' report provides a detailed outlook by product category for the Chinese non-life insurance segment, and a comparison of the Chinese insurance industry with its regional counterparts.

It provides values for key performance indicators such as written premium, incurred loss, loss ratio, commissions and expenses, combined ratio, total assets, total investment income and retentions during the review period (2011-2015) and forecast period (2015-2020).

The report also analyzes distribution channels operating in the segment, gives a comprehensive overview of the Chinese economy and demographics, explains the various types of natural hazard and their impact on the Chinese insurance industry, and provides detailed information on the competitive landscape in the country.

The report brings together Timetric's research, modeling and analysis expertise, giving insurers access to information on segment dynamics and competitive advantages, and profiles of insurers operating in the country. The report also includes details of insurance regulations, and recent changes in the regulatory structure.

Summary

Timetric's 'Non-Life Insurance in China, Key Trends and Opportunities to 2020' report provides in-depth market analysis, information and insights into the Chinese non-life insurance segment, including:

• The Chinese non-life insurance segment's detailed outlook by product category

• A comprehensive overview of the Chinese economy and demographics

• A comparison of the Chinese insurance industry with its regional counterparts

• The various distribution channels in the Chinese non-life insurance segment

• Detailed analysis of natural hazards and their impact on the Chinese insurance industry

• Details of the competitive landscape in the non-life insurance segment in China

• Details of regulatory policy applicable to the Chinese insurance industry

Scope

This report provides a comprehensive analysis of the non-life insurance segment in China:

• It provides historical values for the Chinese non-life insurance segment for the report's 2011-2015 review period, and projected figures for the 2015-2020 forecast period.

• It offers a detailed analysis of the key categories in the Chinese non-life insurance segment, and market forecasts to 2020.

• It profiles the top non-life insurance companies in China, and outlines the key regulations affecting them.

Reasons To Buy

• Make strategic business decisions using in-depth historic and forecast market data related to the Chinese non-life insurance segment, and each category within it.

• Understand the demand-side dynamics, key market trends and growth opportunities in the Chinese non-life insurance segment.

• Assess the competitive dynamics in the non-life insurance segment.

• Identify growth opportunities and market dynamics in key product categories.

• Gain insights into key regulations governing the Chinese insurance industry, and their impact on companies and the industry's future.

Key Highlights

• At the end of 2016, China overtook Japan to become the world's second-largest insurance market after the US.

• In May 2016, the China Insurance Regulatory Commission (CIRC) introduced China's first voluntary household earthquake insurance policy covering earthquakes and related hazards such as tsunamis, fires, explosions and landslides.

• In March 2015, the CIRC introduced deregulation, giving motor insurers autonomy on policy pricing based on a vehicle's risk exposure.

• In September 2016, Alibaba formed a joint venture with China Taiping Insurance, creating online insurance platform Cheche Chexian, which offers motor insurance products, online renewal and claims processing.

• In December 2015, the first usage-based motor insurance product was launched by auto data service company Lichengbao, in association with numerous smaller motor insurers

 Table of Contents

1 Key Facts and Highlights
2 Executive Summary
3 Economy and Demographics
4 Segment Outlook
4.1 Regional Comparison
4.2 Segment Indicators
4.2.1 Gross written premium and penetration
4.2.2 Claims
4.2.3 Profitability
4.2.4 Assets and investments
5 Outlook by Category
5.1 Property Insurance
5.1.1 Product overview
5.1.2 Premium
5.1.3 Claims
5.1.4 Profitability
5.2 Motor Insurance
5.2.1 Product overview
5.2.2 Premium
5.2.3 Claims
5.2.4 Profitability
5.3 Liability Insurance
5.3.1 Product overview
5.3.2 Premium
5.3.3 Claims
5.3.4 Profitability
5.4 Marine, Aviation and Transit Insurance
5.4.1 Product overview
5.4.2 Premium
5.4.3 Claims
5.4.4 Profitability
6 Distribution Channel Outlook
6.1 Analysis by Distribution Channel
7 Natural and Man-Made Hazards
7.1 Storms and Typhoons
7.2 Flooding
7.3 Earthquakes
7.4 Droughts
7.5 Other Natural Disasters
7.6 Man-made Disasters
7.7 Exposure
8 Competitive Landscape
8.1 Company Profiles
8.1.1 PICC Property and Casualty Co., Ltd - company overview
8.1.2 China Ping An Property and Casualty Co., Ltd - company overview
8.1.3 China Pacific Property Insurance Co., Ltd - company overview
8.1.4 China Life Property and Casualty Co., Ltd - company overview
8.1.5 PICC Property and Casualty Co., Ltd - company overview
9 Governance, Risk and Compliance
9.1 Legislation Overview and Historical Evolution
9.2 Latest Changes in Regulation
9.3 Legislation and Market Practice by Type of Insurance
9.3.1 Life insurance
9.3.2 Property insurance
9.3.3 Motor insurance
9.3.4 Liability insurance
9.3.5 Marine, aviation and transit insurance
9.3.6 Personal accident and health insurance
9.4 Compulsory Insurance
9.4.1 Motor third-party liability insurance
9.4.2 Environmental liability insurance
9.4.3 Social security system
9.4.4 Aviation liability insurance
9.5 Supervision and Control
9.5.1 International Associations of Insurance Supervisors
9.5.2 China Insurance Regulatory Commission
9.6 Non-Admitted Insurance Regulations
9.6.1 Overview
9.6.2 Intermediaries
9.6.3 Market practices
9.6.4 Fines and Penalties
9.7 Company Registration and Operations
9.7.1 Type of insurance organization
9.7.2 Establishing a local company
9.7.3 Foreign ownership
9.7.4 Types of license
9.7.5 Capital requirements
9.7.6 Solvency margin
9.7.7 Reserve requirements
9.7.8 Investment regulations
9.7.9 Statutory return requirements
9.7.10 Fee structure
9.8 Taxation
9.8.1 Insurance premium or policy taxation
9.8.2 Withholding taxes on premium paid overseas
9.8.3 Corporate tax
9.8.4 VAT
9.8.5 Captives
9.9 Legal System
9.9.1 Introduction
9.9.2 Access to court
9.9.3 Alternative dispute resolution
10 Databook
10.1 Policies and Premium
10.2 Claims and Expenses
10.3 Assets and Investments
10.4 Direct Marketing and E-Commerce
10.5 Insurance Brokers and Agencies
10.6 Bancassurance and Other Distribution Channels
10.7 Property Insurance
10.8 Property Insurance by Product
10.9 Motor Insurance
10.1 Motor Insurance by Product
10.11 Liability Insurance
10.12 Marine, Aviation and Transit Insurance
11 Definitions and Methodology
11.1 Definitions
11.2 Methodology
12 About Timetric
12.1 Contact Timetric
12.2 About Timetric
12.3 Timetric's Services
12.4 Disclaimer

List of Tables

Table 1: Chinese Non-Life Insurance - Key Facts, 2015
Table 2: Chinese Non-Life Insurance - Segment Shares of the Top Insurers, 2015
Table 3: Chinese Government Credit Ratings
Table 4: Chinese Non-Life Insurance - Gross Written Premium (CNY Billion and US$ Billion), 2011-2015
Table 5: Chinese Non-Life Insurance - Penetration (%), 2011-2015
Table 6: Chinese Non-Life Insurance - Gross Written Premium (CNY Billion and US$ Billion), 2015-2020
Table 7: Chinese Non-Life Insurance - Penetration (%), 2015-2020
Table 8: Chinese Non-Life Insurance - Premium per Capita (CNY and US$), 2011-2015
Table 9: Chinese Non-Life Insurance - Premium per Capita (CNY and US$), 2015-2020
Table 10: Chinese Non-Life Insurance - Paid Claims (CNY Billion and US$ Billion), 2011-2015
Table 11: Chinese Non-Life Insurance - Paid Claims (CNY Billion and US$ Billion), 2015-2020
Table 12: Chinese Non-Life Insurance - Profitability Ratio (%), 2011-2015
Table 13: Chinese Non-Life Insurance - Profitability Ratio (%), 2015-2020
Table 14: Chinese Non-Life Insurance - Total Assets (CNY Billion and US$ Billion), 2011-2015
Table 15: Chinese Non-Life Insurance - Total Assets (CNY Trillion and US$ Billion), 2015-2020
Table 16: Chinese Non-Life Insurance - Total Investment Income (CNY Billion and US$ Billion), 2011-2015
Table 17: Chinese Non-Life Insurance - Total Investment Income (CNY Billion and US$ Billion), 2015-2020
Table 18: Chinese Non-Life Insurance - Investment Portfolio (CNY Billion), 2011-2015
Table 19: Chinese Non-Life Insurance - Investment Portfolio (CNY Billion), 2015-2020
Table 20: Chinese Non-Life Insurance - Direct Written Premium by Category (CNY Billion), 2011-2015
Table 21: Chinese Non-Life Insurance - Direct Written Premium by Category (CNY Billion), 2015-2020
Table 22: Chinese Property Insurance - Direct Written Premium by Sub-Category (CNY Billion), 2011-2015
Table 23: Chinese Property Insurance - Direct Written Premium by Sub-Category (CNY Billion), 2015-2020
Table 24: Chinese Property Insurance - Paid Claims (CNY Billion and US$ Billion), 2011-2015
Table 25: Chinese Property Insurance - Paid Claims (CNY Billion and US$ Billion), 2015-2020
Table 26: Chinese Property Insurance - Loss Ratio (%), 2011-2015
Table 27: Chinese Property Insurance - Loss Ratio (%), 2015-2020
Table 28: Chinese Motor Insurance - Direct Written Premium by Sub-Category (CNY Billion), 2011-2015
Table 29: Chinese Motor Insurance - Direct Written Premium by Sub-Category (CNY Billion), 2015-2020
Table 30: Chinese Motor Insurance - Paid Claims (CNY Billion and US$ Billion), 2011-2015
Table 31: Chinese Motor Insurance - Paid Claims (CNY Billion and US$ Billion), 2015-2020
Table 32: Chinese Motor Insurance - Loss Ratio (%), 2011-2015
Table 33: Chinese Motor Insurance - Loss Ratio (%), 2015-2020
Table 34: Chinese Liability Insurance - Direct Written Premium (CNY Billion and US$ Billion), 2011-2015
Table 35: Chinese Liability Insurance - Direct Written Premium (CNY Billion and US$ Billion), 2015-2020
Table 36: Chinese Liability Insurance - Paid Claims (CNY Billion and US$ Billion), 2011-2015
Table 37: Chinese Liability Insurance - Paid Claims (CNY Billion and US$ Billion), 2015-2020
Table 38: Chinese Liability Insurance - Loss Ratio (%), 2011-2015
Table 39: Chinese Liability Insurance - Loss Ratio (%), 2015-2020
Table 40: Chinese Transport Network - Global Rankings 2016
Table 41: Chinese Marine, Aviation and Transit Insurance - Direct Written Premium (CNY Billion), 2011-2015
Table 42: Chinese Marine, Aviation and Transit Insurance - Direct Written Premium (CNY Billion), 2015-2020
Table 43: Chinese Marine, Aviation and Transit Insurance - Paid Claims (CNY Billion and US$ Billion), 2011-2015
Table 44: Chinese Marine, Aviation and Transit Insurance - Paid Claims (CNY Billion and US$ Billion), 2015-2020
Table 45: Chinese Marine, Aviation and Transit Insurance - Loss Ratio (%), 2011-2015
Table 46: Chinese Marine, Aviation and Transit Insurance - Loss Ratio (%), 2015-2020
Table 47: Chinese Non-Life Insurance - Direct Written Premium by Distribution Channel (CNY Billion), 2011-2015
Table 48: Chinese Non-Life Insurance - Direct Written Premium by Distribution Channel (CNY Billion), 2015-2020
Table 49: Chinese Non-Life Insurance - Percentage of Direct Written Premium, by Distribution Channel, 2011-2020
Table 50: China Natural Hazards - Frequency, Total Deaths, Total Affected and Total Economic Damages, 1990-2014
Table 51: Top 10 Natural Hazards in China by Number of Deaths, 2010-2016
Table 52: Earthquakes in China - Total Deaths, Total Affected and Total Economic Losses, 2015
Table 53: Chinese Non-Life Insurance - Segment Shares of the Leading Insurers (%), 2015
Table 54: PICC Property and Casualty Co., Ltd - Key Facts
Table 55: PICC Property and Casualty Co., Ltd - Key Financials (CNY Billion), 2011-2015
Table 56: China Ping An Property and Casualty Co., Ltd - Key Facts
Table 57: China Ping An Property and Casualty Co., Ltd - Key Financials (CNY Billion), 2011-2015
Table 58: China Pacific Property Insurance Co., Ltd - Key Facts
Table 59: China Pacific Property Insurance Co., Ltd - Key Financials (CNY Billion), 2011-2015
Table 60: China Life Property and Casualty Co., Ltd - Key Facts
Table 61: China Life Property and Casualty Co., Ltd - Key Financials (CNY Billion), 2011-2015
Table 62: China United Property Insurance Co., Ltd - Key Facts
Table 63: China United Property Insurance Co., Ltd - Key Financials (CNY Billion), 2011-2015
Table 64: China - Insurance Regulatory Framework Key Features
Table 65: China - Life Insurance Regulatory Framework
Table 66: China - Property Insurance Regulatory Framework
Table 67: China- Motor Insurance Regulatory Framework
Table 68: China- Motor Insurance Regulatory Framework
Table 69: China - Liability Insurance Regulatory Framework
Table 70: China - Corporate Tax Rates for the Financial Year 2017
Table 71: Chinese Insurance Industry - Policies and Premium, 2011-2015
Table 72: Chinese Insurance Industry - Policies and Premium, 2015-2020
Table 73: Chinese Non-Life Insurance - Claims and Expenses, 2011-2015
Table 74: Chinese Non-Life Insurance - Claims and Expenses, 2015-2020
Table 75: Chinese Non-Life Insurance - Assets and Investments, 2011-2015
Table 76: Chinese Non-Life Insurance - Assets and Investments, 2015-2020
Table 77: Chinese Non-Life Insurance - Direct Marketing and E-Commerce, 2011-2015
Table 78: Chinese Non-Life Insurance - Direct Marketing and E-Commerce, 2015-2020
Table 79: Chinese Non-Life Insurance - Insurance Brokers and Agencies, 2011-2015
Table 80: Chinese Non-Life Insurance - Insurance Brokers and Agencies, 2015-2020
Table 81: Chinese Non-Life Insurance - Insurance Brokers and Agencies, 2011-2015
Table 82: Chinese Non-Life Insurance - Insurance Brokers and Agencies, 2015-2020
Table 83: Chinese Non-Life Insurance - Property Insurance, 2011-2015
Table 84: Chinese Non-Life Insurance - Property Insurance, 2015-2020
Table 85: Chinese Non-Life Insurance - Property Insurance by Product, 2011-2015
Table 86: Chinese Non-Life Insurance - Property Insurance by Product, 2015-2020
Table 87: Chinese Non-Life Insurance - Motor Insurance, 2011-2015
Table 88: Chinese Non-Life Insurance - Motor Insurance, 2015-2020
Table 89: Chinese Non-Life Insurance - Motor Insurance by Product, 2011-2015
Table 90: Chinese Non-Life Insurance - Motor Insurance by Product, 2015-2020
Table 91: Chinese Non-Life Insurance - Liability Insurance, 2011-2015
Table 92: Chinese Non-Life Insurance - Liability Insurance, 2015-2020
Table 93: Chinese Non-Life Insurance - Marine, Aviation and Transit Insurance, 2011-2015
Table 94: Chinese Non-Life Insurance - Marine, Aviation and Transit Insurance, 2015-2020
Table 95: Insurance Industry Definitions