Invincible insurance giants

The dominance of local insurers is such that no foreign company is listed in the top 13 life insurance companies in 2009. During the first ten months of 2010, China Life has been in the lead with a turnover of 43.5 billion USD followed by Ping Life with 20.3 billion USD. These two groups alone control 53% of the market, with the remaining 47% being shared among the other 50 insurers.
In non life insurance, Chinese companies dominate the first 27 positions. PICC, the market leader, generated a volume of premiums of 19.31 billion USD in the first ten months of 2010. Ping An ranked second followed by China Pacific, China United and Dadi.

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