Industry Dynamics and Competitive Landscape in the Chinese Non-Life Insurance Industry to 2016: Market Profile by Timetric

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									Industry Dynamics and
Competitive Landscape in the
Chinese Non-Life Insurance
Industry to 2016: Market Profile
Market Profile

Reference code: IN1019MP

Published: October 2012

www.timetric.com




Timetric

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                           www.timetric.com
 TABLE OF CONTENTS



TABLE OF CONTENTS

1      Introduction ..................................................................................................................... 8
    1.1 What is this Report About? ........................................................................................................ 8
    1.2 Definitions ................................................................................................................................. 8
    1.3 Methodology ........................................................................................................................... 10
2      Chinese Insurance Industry Attractiveness ................................................................ 12
    2.1 Insurance Industry Market Size, 2007–2016 ........................................................................... 14
    2.2 Key Industry Trends and Drivers ............................................................................................. 18
        2.2.1     Business drivers ............................................................................................................................... 18
        2.2.2     Consumer drivers ............................................................................................................................. 19
    2.3 Recent Market Developments ................................................................................................. 20
3      Regulatory Policies ....................................................................................................... 22
4      Porter’s Five Forces Analysis – Chinese Non-Life Insurance Segment ................... 24
    4.1 Bargaining Power of Supplier: Medium to High ....................................................................... 24
    4.2 Bargaining Power of Buyer: Medium to High ........................................................................... 24
    4.3 Barriers to Entry: Low to Medium ............................................................................................ 25
    4.4 Intensity of Rivalry: High.......................................................................................................... 25
    4.5 Threat of Substitutes: Low ....................................................................................................... 25
5      Competitive Landscape and Strategic Insights .......................................................... 26
    5.1 Overview ................................................................................................................................. 26
    5.2 Leading Companies in the Chinese Non-Life Insurance Market .............................................. 26
    5.3 Comparison of Top-Five Insurers ............................................................................................ 28
        5.3.1     Gross written premium ...................................................................................................................... 28
        5.3.2     Outward reinsurance expenses ........................................................................................................ 29
        5.3.3     Net earned premiums ....................................................................................................................... 30
        5.3.4     Gross claims ..................................................................................................................................... 31
        5.3.5     Paid claims ....................................................................................................................................... 32
        5.3.6     Pre tax profit/loss .............................................................................................................................. 33
        5.3.7     Total assets ...................................................................................................................................... 34
        5.3.8     Total investment income ................................................................................................................... 35
    5.4 PICC Property and Casualty Company Limited (PICC) – Company Overview ........................ 36
        5.4.1     PICC Property and Casualty Company Limited (PICC) – key facts ................................................. 36
        5.4.2     PICC Property and Casualty Company Limited (PICC) – key financials ......................................... 36
    5.5 Ping An Property and Casualty Insurance Company – Company Overview ............................ 37
        5.5.1     Ping An Property and Casualty Insurance Company – key facts ..................................................... 37
        5.5.2     Ping An Property and Casualty Insurance Company – key financials ............................................. 37
    5.6 China Pacific Insurance (Group) Co., Ltd (CPIC) – Company Overview .................................. 38
        5.6.1     China Pacific Insurance (Group) Co., Ltd (CPIC) – key facts .......................................................... 38
        5.6.2     China Pacific Insurance (Group) Co., Ltd (CPIC) – key financials ................................................... 39


Industry Dynamics and Competitive Landscape in the Chinese Non-Life Insurance Industry to
                                                                                                                                                                       Page 2
2016: Market Profile

© Timetric. This product is licensed and is not to be photocopied                                                                                Published: October 2012
 TABLE OF CONTENTS



    5.7 China United Property Insurance Company – Company Overview .......................................... 40
       5.7.1      China United Property Insurance Company – key facts................................................................... 40
    5.8 China Continent Property & Casualty Insurance Company Ltd. – Company Overview ............ 41
       5.8.1      China Continent Property & Casualty Insurance Company Ltd – key facts ..................................... 41
6      Business Environment and Country Risk ................................................................... 42
    6.1 Business Confidence .............................................................................................................. 42
       6.1.1      Business confidence indicator .......................................................................................................... 42
       6.1.2      Market capitalization trend – Shanghai Stock Exchange, China ...................................................... 43
    6.2 Economic Performance ........................................................................................................... 44
       6.2.1      GDP at constant prices (US dollars) ................................................................................................. 44
       6.2.2      GDP per capita at constant prices (US dollars) ................................................................................ 45
       6.2.3      GDP at current prices (US dollars) ................................................................................................... 46
       6.2.4      GDP per capita at current prices (US dollars) .................................................................................. 47
       6.2.5      GDP by key segments ...................................................................................................................... 48
       6.2.6      Agricultural net output at current prices (yuan) ................................................................................ 49
       6.2.7      Agricultural net output at current prices (US dollars) ........................................................................ 50
       6.2.8      Agricultural net output at current prices as a percentage of GDP .................................................... 51
       6.2.9      Manufacturing net output at current prices (yuan) ............................................................................ 52
       6.2.10 Manufacturing net output at current prices (US dollars) ................................................................... 53
       6.2.11 Manufacturing net output at current prices as a percentage of GDP ............................................... 54
       6.2.12 Mining, manufacturing and utilities net output at current prices (yuan) ............................................ 55
       6.2.13 Mining, manufacturing and utilities at current prices (US dollars) .................................................... 56
       6.2.14 Mining, manufacturing and utilities at current prices as a percentage of GDP ................................ 57
       6.2.15 Construction net output at current prices (yuan) .............................................................................. 58
       6.2.16 Construction net output at current prices (US dollars) ..................................................................... 59
       6.2.17 Construction net output at current prices as a percentage of GDP .................................................. 60
       6.2.18 Inflation rate ...................................................................................................................................... 61
       6.2.19 Current account balance as a percentage of GDP ........................................................................... 62
       6.2.20 Exports as a percentage of GDP ...................................................................................................... 63
       6.2.21 Imports as a percentage of GDP ...................................................................................................... 64
       6.2.22 Exports growth .................................................................................................................................. 65
       6.2.23 Imports growth .................................................................................................................................. 66
       6.2.24 Annual average exchange rate US$–RMB....................................................................................... 67
       6.2.25 End-of-period exchange rate US$–RMB .......................................................................................... 68
    6.3 Infrastructure Quality and Availability ...................................................................................... 69
       6.3.1      Total airports and sea ports .............................................................................................................. 69
       6.3.2      Railways and roadways .................................................................................................................... 70
       6.3.3      Passenger vehicle production volume .............................................................................................. 71
       6.3.4      Commercial vehicle production volume ............................................................................................ 72
       6.3.5      Automotive component exports trend ............................................................................................... 73
       6.3.6      Automotive component imports trend ............................................................................................... 74
       6.3.7      Passenger car penetration ............................................................................................................... 75

Industry Dynamics and Competitive Landscape in the Chinese Non-Life Insurance Industry to
                                                                                                                                                                     Page 3
2016: Market Profile

© Timetric. This product is licensed and is not to be photocopied                                                                              Published: October 2012
 TABLE OF CONTENTS



        6.3.8     Healthcare expenditure..................................................................................................................... 76
        6.3.9     Healthcare expenditure as a percentage of GDP ............................................................................. 77
        6.3.10 Healthcare expenditure per capita .................................................................................................... 78
        6.3.11 Total internet subscribers ................................................................................................................. 79
    6.4 Labor Force............................................................................................................................. 80
        6.4.1     Labor force ........................................................................................................................................ 80
        6.4.2     Unemployment rate .......................................................................................................................... 81
    6.5 Demographics ......................................................................................................................... 82
        6.5.1     Annual disposable income ................................................................................................................ 82
        6.5.2     Annual per capita disposable income ............................................................................................... 83
        6.5.3     Total population ................................................................................................................................ 84
        6.5.4     Urban and rural populations ............................................................................................................. 85
        6.5.5     Female percentage of the population ............................................................................................... 86
        6.5.6     Male percentage of the population ......................................................................
								
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