Cast even risk losing foreign sales share of high-risk serious shrinkage

The different product mix, so that each insurance company in the late autumn early winter season does not live the same day. Shanghai Bao Jianju according to data released yesterday, as of the end of Oct 2008, Shanghai's various foreign-funded insurance premium income of 8,426,000,000 yuan, 17.43 percent year-on-year decline in market share has shrunk to 16.19 percent. However, in sharp contrast with that of Shanghai's insurance market of the original premium income of 52,038,000,000 yuan, an increase of 12,704,000,000 yuan, an increase of 32.30 percent year-on-year; In addition, the Chinese-funded insurance premium income of 43,612,000,000 yuan, an increase of 49.72 percent, 83.81 percent market share.

This year, the Shanghai market in the foreign market share premiums accounted great changes have taken place. Among them, in Shanghai to expand the size of the overall insurance market, the Chinese-funded insurance companies operating under the strong growth in contrast, foreign insurance business in particular has shrunk big attention. In fact, the main reason for this situation is that prior to the company because of the size of capital, assets and other factors affect the matching period, with the exception of International Assurance Company outside the majority of the foreign life insurance companies are the main risk even vote, but with the speed of the capital market this year Decline, coupled with the emergence of the individual before the collective experience surrender, and other insurance companies involved in the incident, even for the sale of insurance is very difficult. Many Chinese-funded life insurance company will have long focused on the sale of dividends and traditional life insurance business, so business has been sustained growth.

Data show that in October, Shanghai's insurance market even for 1.64 billion yuan in June was even voted 323,000,000 yuan insurance premium income of 50. And before there had been bad faith on the phenomenon of insurance companies, inevitably there have been rapid decline in performance. Haikang to insurance, for example, the Shanghai Insurance Association released data show that in June this year, the company's premium income of 30,309,800 yuan, the premium income in October was 9,403,900 yuan, down 68.97 percent; market share dropped even more 50. The October monthly insurance premium silver only 6,116,200 yuan, the ring fell more than 80%, 94% year-on-year decline; and even voted in the risk business, the company in the Shanghai market's premium income was only 573,600 yuan Than in June has shrunk about 95.92 percent.