A study of life insurance market in China
Wang, Chien Wen
Hwang, Jen Te
Wang, Chien Wen
China's insurance market
|上傳時間: ||2012-10-24 16:16:34 (UTC+8)|
|摘要: || 雖自1978年開始，但是從1992年鄧小平的南方談話後，中國大陸才正式進入改革開放時期，並持續20年至今。如今，中國已成為一個小康社會。"私有"的概念取代"國有"的概念是社會的一個巨大驅動力。|
Started in 1978, but after Deng’s Southern Speech in 1992, Mainland China officially entered an evolution and opening year, which last 20 years till now. Nowadays China is a moderately prosperous society. The change of the concept "private" replaces "state-owned" is a huge driven power for the society.
Following the market economy step, insurance industry joins and become a stable power to the society. In the two decades, life insurance industry is one of the fastest developing industries in China. Understanding how important the stable power for the society, the Chinese government enacts many regulations and pushes insurance industry to actively join the whole financial system.
Under globalization environment and WTO structure, Chinese government accelerates the open steps by perfect legal system and attracts foreign investment. Nowadays China’s insurance market reaches a certain scale. Bancassurance brings continuous growth of China’s life insurance market and keep playing important role for insurer’s premium income.
This study suggests that the Chinese government should pay more attention on monopoly situation, risk management, and the changes of interest rate to avoid negative spread problem in the future. Foreign insurers nowadays only accounted for minor market share which is not good for the development for the financial system if the situation exists continuously. The probabilities of risk transmission across industries will increase day by day; therefore, the government should create a sound financial environment and also keep their eyes on risk control.
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