Foreign insurers are struggling in China

The PricewaterhouseCoopers investigation has revealed that foreign insurers are facing fierce competition from local insurers. According to forecasts, their market shares will remain stable over the next three years. These shares should be of 5% for life insurers and of 1% for non-life insurers.
The first six months of 2010 showed that foreign life insurers have collected 4.9 billion USD, that is 4% of the total premiums volume. For the local authorities, these figures show that the market share of non-Chinese insurers continues to decline. It decreased from 9% in 2005 to 7% in 2007 and less than 5% in 2010.