China Insurance Report Q1 2010

Executive Summary .....................5
Table: Overview Of China’s Insurance Sector............ 5
Key Insights On China’s Insurance Sector.................. 5
SWOT Analysis......7
China Insurance Industry SWOT......... 7
China Political SWOT ......................... 7
China Economic SWOT ...................... 8
China Business Environment SWOT.......................... 8
Global Outlook.......9
Asia Pacific Overview ................11
Projections And Forecasts........15
Table: Premiums, 2006-2014............. 15
Projections And Drivers Of Growth.......................... 16
Table: Growth Drivers, 2005-2014 ........................... 16
Country Update ..........................17
Macroeconomic Outlook ................... 17
Table: China – Economic Activity, 2005-2014......... 18
Domestic Political Outlook................ 18
Domestic Foreign Outlook................. 20
Insurance Business Environment Rating ........23
Table: China – Insurance Business Environment Indicators ............ 23
Table: Asia Pacific Insurance Business Environment Ratings .......... 24
Regional Context........................25
Table: Non-Life Premiums In A Regional Context, 2008................ 25
Table: Life Premiums In A Regional Context, 2008........................ 26
Major Players In China’s Insurance Sector .....27
Table: Top 18 Local Non-Life Groups By Premiums, H109 ............ 27
Table: Foreign Non-Life Insurers, H109................... 28
Table: Top 20 Domestic Life Groups By Premiums, H109 ............. 29
Table: Top 20 Foreign Life Groups By Premiums, H109 ................ 29
Analysis Of Regional Competitive Conditions.......................31
Local Company Profiles ............36
China Life Insurance Company Limited (China Life)...................... 36
China Pacific Insurance Company Ltd...................... 38
New China Life Insurance (Xinhua) ......................... 40
PICC Property and Casualty Company Limited........ 41
Ping An Insurance (Group ) (Ping An) ..................... 43
Taikang Life Insurance ...................... 45
Regional Company Profiles .......46
AEGON...................... 46
AIG............................. 47
Allianz ........................ 52
Aviva .......................... 55
AXA ........................... 57
Cardif.......................... 59
Fortis........................... 62
Generali ...................... 64
Groupama ................... 67
HDI-Gerling................ 69
HSBC Insurance ......... 72
ING Group.................. 75
Liberty Mutual............ 77
Manulife ..................... 79
MetLife....................... 81
Prudential Financial ........................... 84
Prudential Plc.............. 87
QBE............................ 90
RSA............................ 92
Sun Life Financial.............................. 93
The Principal............... 95
Zurich Financial Services .................. 96
Country Snapshot: China Demographic Data........................98
Section 1: Population......................... 98
Table: Demographic Indicators, 2005-2030.............. 98
Table: Rural/Urban Breakdown, 2005-2030 ............. 99
Section 2: Education And Healthcare ....................... 99
Table: Education, 2002-2005............. 99
Table: Vital Statistics, 2005-2030............................. 99
Section 3: Labour Market And Spending Power............................ 100
Table: Employment Indicators, 2001-2006............. 100
Table: Consumer Expenditure Per Capital, 2000-2012 (US$) ........ 100
Table: Average Annual Manufacturing Wages, 2005-2012 ............ 100
Methodology ......101
Insurance Business Environment Ratings ............... 102
Table: Insurance Business Environment Indicators And Rationale........................ 102
Table: Weighting Of Indicators ....... 103