Doing Business in China

Descriptions of china insurance companies statics 2009.The operating benefit of Chinese insurance companies increased dramatically on the whole in 2009. The total profit of the insurance companies hit RMB53.06 billion. In particular, the property insurance companies achieved RMB3.51 billion of profit, turning losses into gains; and the personal insurance companies realized a total profit of RMB43.46 billion, a considerable rise in business value. The investment return in the whole industry was RMB214.17 billion with profit rate 6.41%, up 4.5 percentage points from the comparable period of last year. There were a total of 22 insurance companies with the rate of return on capital being over 8% apiece.

As of the end of October 2009, the solvency adequacy ratio of all the foreign insurance companies stationed in China had reached above 150% on average, meeting supervision requirements. The foreign life insurance companies made certain achievements in optimizing business structure and improving the quality of development. Generally speaking, foreign insurance companies remained steady growth momentum in terms of business scale and profitability. Still, they played an important role in perfecting the main structure of China’s insurance market, pushing insurance products for innovation and expanding the insurance market in central-western regions of China.