Magazine date:
Jan 2013 Foreign life insurers expect a 30% increase of their turnover in China for the next three years. This increase is to be accounted for by the expected economic growth. Non-life insurers, on their part, expect a 20% rise of their income for the same period. In 2011, all the 27 foreign life insurers held a market share of 4.3% against 1.2% for non-life insurers.
By 2015, their market shares are poised to reach respectively 5% and 5.5%. The optimism of foreign non-life insurers rests on the opening of The motor third party liability market to all players. However, these expectations are twice to four times as low as the forecasts made in 2007.