When most Chinese regard the effect of the global financial crisis has faded, 2010 was a significant year for the Chinese insurance industry; eventful and full of challenges.
In 2010, the Chinese insurance market remains the sixth largest insurance market in the world with respect to its premium income. The value of the country’s insurance assets is over 4,000 billion RMB. Compared with the situation in 1980, when the Chinese insurance market was a completely monopolized market, there was only one insurer and the total premium income at the time was 0.46 billion RMB, the insurance industry now plays an inseparable role in the Chinese society, and causes an essentially important impact on the Chinese economy.
Continue Reading Overall review of 2010 Chinese insurance industry from a legal perspective