Personal Accident and Health Insurance in China, Key Trends and Opportunities to 2020

Published: Jun, 2017 | Pages: 138 | Publisher: Timetric
Industry: Insurance | Report Format: Electronic (PDF)

Synopsis

Timetric's 'Personal Accident and Health Insurance in China, Key Trends and Opportunities to 2020' report provides detailed analysis of the market trends, drivers, challenges in the Chinese personal accident and health insurance segment.

It provides 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, 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 'Personal Accident and Health Insurance in China, Key Trends and Opportunities to 2020' report provides in-depth market analysis, information and insights into the Chinese personal accident and health insurance segment, including:

• The Chinese personal accident and health insurance segment's growth prospects by insurance category

• Key trends, drivers and challenges for the personal accident and health insurance segment 

• A comprehensive overview of the Chinese economy and demographics

• The various distribution channels in the Chinese personal accident and health insurance segment

• Details of the competitive landscape in the personal accident and health insurance segment in China

• Details of regulatory policy applicable to the Chinese insurance industry

Scope

This report provides a comprehensive analysis of the personal accident and health insurance segment in China:

• It provides historical values for the Chinese personal accident and health 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 personal accident and health insurance segment, and market forecasts to 2020.

• It profiles the top personal accident and health 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 personal accident and health insurance segment, and each category within it.

• Understand the demand-side dynamics, key market trends and growth opportunities in the Chinese personal accident and health insurance segment.

• Assess the competitive dynamics in the personal accident and health 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

• In January 2017, the Chinese government issued a medical reform plan for the period 2016-2020, as a part of the 13th Five-Year Plan, with emphasis on insurance reforms and improvements.

• In January 2016, the Chinese government introduced a tax benefit health insurance plan, with an objective to expand commercial health insurance. In June 2016, the China Insurance Regulatory Commission (CIRC) permitted 12 insurers to offer tax-deductible health schemes

• In April 2016, Alibaba Health Information Technology formed a joint venture with China Taiping to establish online health insurance, with registered capital of CNY1.0 billion (US$154 million). 

• The Chinese state council issued a circular in October 2016, promulgating a series of regulations regarding critical illness insurance to cover more urban and rural residents. 

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

 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 Personal Accident Insurance
5.1.1 Premium
5.1.2 Claims
5.1.3 Profitability
5.2 Health Insurance
5.2.1 Premium
5.2.2 Claims
5.2.3 Profitability

6 Distribution Channel Outlook

7 Competitive Landscape
7.1 Company Profiles
7.1.1 China Life Insurance Co., Ltd - company overview
7.1.2 China Ping An Life Insurance Co., Ltd - company overview
7.1.3 Hexie Health Insurance Co., Ltd - company overview
7.1.4 New China Life Insurance Co., Ltd - company overview
7.1.5 China Pacific Life Insurance Co., Ltd - company overview

8 Governance, Risk and Compliance
8.1 Legislation Overview and Historical Evolution
8.2 Latest Changes in Regulation
8.3 Legislation and Market Practice by Type of Insurance
8.3.1 Life insurance
8.3.2 Property insurance
8.3.3 Motor insurance
8.3.4 Liability insurance
8.3.5 Marine, aviation and transit insurance
8.3.6 Personal accident and health insurance
8.4 Compulsory Insurance
8.4.1 Motor third-party liability insurance
8.4.2 Environmental liability insurance
8.4.3 Social security system
8.4.4 Aviation liability insurance
8.5 Supervision and Control
8.5.1 International Associations of Insurance Supervisors
8.5.2 China Insurance Regulatory Commission
8.6 Non-Admitted Insurance Regulations
8.6.1 Overview
8.6.2 Intermediaries
8.6.3 Market practices
8.6.4 Fines and Penalties
8.7 Company Registration and Operations
8.7.1 Type of insurance organization
8.7.2 Establishing a local company
8.7.3 Foreign ownership
8.7.4 Types of license
8.7.5 Capital requirements
8.7.6 Solvency margin
8.7.7 Reserve requirements
8.7.8 Investment regulations
8.7.9 Statutory return requirements
8.7.10 Fee structure
8.8 Taxation
8.8.1 Insurance premium or policy taxation
8.8.2 Withholding taxes on premium paid overseas
8.8.3 Corporate tax
8.8.4 VAT
8.8.5 Captives
8.9 Legal System
8.9.1 Introduction
8.9.2 Access to court
8.9.3 Alternative dispute resolution

9 Databook
9.1 Policies and Premium
9.2 Claims and Expenses
9.3 Assets and Investments
9.4 Personal Accident Insurance
9.5 Health Insurance
9.6 Health Insurance by Product

10 Definitions and Methodology
10.1 Definitions
10.2 Methodology

11 About Timetric
11.1 Contact Timetric
11.2 About Timetric
11.3 Timetric's Services
11.4 Disclaimer

List of Tables

Table 1: Chinese Personal Accident and Health Insurance - Key Facts, 2015
Table 2: Chinese Personal Accident and Health Insurance - Segment Shares of the Leading Insurers, 2015
Table 3: Chinese Government Credit Ratings
Table 4: Chinese Personal Accident and Health Insurance - Gross Written Premium (CNY Billion and US$ Billion), 2011-2015
Table 5: Chinese Personal Accident and Health Insurance - Penetration (%), 2011-2015
Table 6: Chinese Personal Accident and Health Insurance - Gross Written Premium (CNY Billion and US$ Billion), 2015-2020
Table 7: Chinese Personal Accident and Health Insurance - Penetration (%), 2015-2020
Table 8: Chinese Personal Accident and Health Insurance - Premium per Capita (CNY and US$), 2011-2015
Table 9: Chinese Personal Accident and Health Insurance - Premium per Capita (CNY and US$), 2015-2020
Table 10: Chinese Personal Accident and Health Insurance - Paid Claims (CNY Billion and US$ Billion), 2011-2015
Table 11: Chinese Personal Accident and Health Insurance - Paid Claims (CNY Billion and US$ Billion), 2015-2020
Table 12: Chinese Personal Accident and Health Insurance - Profitability Ratio (%), 2011-2015
Table 13: Chinese Personal Accident and Health Insurance - Profitability Ratio (%), 2015-2020
Table 14: Chinese Personal Accident and Health Insurance - Total Assets (CNY Billion and US$ Billion), 2011-2015
Table 15: Chinese Personal Accident and Health Insurance - Total Assets (CNY Billion and US$ Billion), 2015-2020
Table 16: Chinese Personal Accident and Health Insurance - Total Investment Income (CNY Billion and US$ Billion), 2011-2015
Table 17: Chinese Personal Accident and Health Insurance - Total Investment Income (CNY Billion and US$ Billion), 2015-2020
Table 18: Chinese Personal Accident and Health Insurance - Investment Portfolio (CNY Billion), 2011-2015
Table 19: Chinese Personal Accident and Health Insurance - Investment Portfolio (CNY Billion), 2015-2020
Table 20: Chinese Personal Accident and Health Insurance - Direct Written Premium by Category (CNY Billion),2011-2015
Table 21: Chinese Personal Accident and Health Insurance - Direct Written Premium by Category (CNY Billion), 2015-2020
Table 22: Chinese Personal Accident Insurance - Direct Written Premium (CNY Billion and US$ Billion), 2011-2015
Table 23: Chinese Personal Accident Insurance - Direct Written Premium (CNY Billion and US$ Billion), 2015-2020
Table 24: Chinese Personal Accident Insurance - Paid Claims (CNY Billion and US$ Billion), 2011-2015
Table 25: Chinese Personal Accident Insurance - Paid Claims (CNY Billion and US$ Billion), 2015-2020
Table 26: Chinese Personal Accident Insurance - Loss Ratio (%), 2011-2015
Table 27: Chinese Personal Accident Insurance - Loss Ratio (%), 2015-2020
Table 28: Chinese Health Insurance - Direct Written Premium by Sub-Category (CNY Billion), 2011-2015
Table 29: Chinese Health Insurance - Direct Written Premium by Sub-Category (CNY Billion), 2015-2020
Table 30: Chinese Health Insurance - Paid Claims (CNY Billion and US$ Billion), 2011-2015
Table 31: Chinese Health Insurance - Paid Claims (CNY Billion and US$ Billion), 2015-2020
Table 32: Chinese Health Insurance - Loss Ratio (%), 2011-2015
Table 33: Chinese Health Insurance - Loss Ratio (%), 2015-2020
Table 34: Chinese Personal Accident and Health Insurance - Segment Shares of Leading Insurers (%), 2015
Table 35: China Life Insurance Co., Ltd - Key Facts
Table 36: China Ping An Life Insurance Co., Ltd - Key Facts
Table 37: China Life Insurance Co., Ltd - Key Facts
Table 38: New China Life Insurance Co., Ltd - Key Facts
Table 39: China Life Insurance Co., Ltd - Key Facts
Table 40: China - Insurance Regulatory Framework Key Features
Table 41: China - Life Insurance Regulatory Framework
Table 42: China - Property Insurance Regulatory Framework
Table 43: China- Motor Insurance Regulatory Framework
Table 44: China- Motor Insurance Regulatory Framework
Table 45: China - Liability Insurance Regulatory Framework
Table 46: China - Corporate Tax Rates for the Financial Year 2017
Table 47: Chinese Personal Accident and Health Insurance Industry - Policies and Premium, 2011-2015
Table 48: Chinese Personal Accident and Health Insurance Industry - Policies and Premium, 2015-2020
Table 49: Chinese Personal Accident and Health Insurance - Claims and Expenses, 2011-2015
Table 50: Chinese Personal Accident and Health Insurance - Claims and Expenses, 2015-2020
Table 51: Chinese Personal Accident and Health Insurance - Assets and Investments, 2011-2015
Table 52: Chinese Personal Accident and Health Insurance - Assets and Investments, 2015-2020
Table 53: Chinese Personal Accident and Health Insurance - Personal Accident Insurance, 2011-2015
Table 54: Chinese Personal Accident and Health Insurance - Personal Accident Insurance, 2015-2020
Table 55: Chinese Personal Accident and Health Insurance - Health Insurance, 2011-2015
Table 56: Chinese Personal Accident and Health Insurance - Health Insurance, 2015-2020
Table 57: Chinese Personal Accident and Health Insurance - Health by Product, 2011-2015
Table 58: Chinese Personal Accident and Health Insurance - Health by Product, 2015-2020
Table 59: Insurance Industry Definitions