health insurance industry trends 2009
The insurance industry of China is one of the insurance industry's fastest growing in the world. Is expected to grow at a CAGR of 28-30% during 2009-2013. While most countries around the world are busy finding ways out of financial crisis, China's insurance industry is already on the way to intervals of high and solid growth in coming years. Last year (2008), the insurance industry grew at the fastest pace since 2002 on the increase safe level of awareness and government support. It recorded a growth of over 39% in 2008. Personal insurance products including life, health and personal accident led most growth, with more than three quarters of total insurance premiums written in the country.
Non-life (property) insurance products are also growing at a rapid pace. The market is mainly concentrated in two segments: motor trade and property insurance. Motor insurance represents over 70% of premium written in non-life insurance segment. But many other products do not leave life insurance and civil liability, credit, insurance, Marine etc., which will decide the long-term viability of non-life insurance market. Therefore, there is a strong need to focus on these emerging insurance segments.
However, the insurance market in China remains largely untapped. With the insurance penetration (in terms of GDP) in only 3.2% in late December 2008, China is far from the world average insurance penetration in the industry over 7%. So the future of the industry is certainly promising, but the rate growth is expected to be slightly lower in the short term the demand for life insurance products, including investment linked insurance products, you can see one in through the financial crisis crisis.
"China Insurance Sector expected that 2013 is the result of extensive research and study in depth insurance market in China. The report analyzes each of the insurance segments in detail, including personal insurance, property insurance, etc. Most importantly, also tells clients that the direction the market is likely to move in the coming years. In addition, the report model analysis of variables macroeconomic and their impact on the insurance market. It also contains information on emerging industry trends, which will decide the future of market China's insurance.
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Article Source: ArticlesBase.com – China Insurance Sector Forecast to 2013 Research by MarketsMonitor.com
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