December 14, 2008

Foreign investment enterprises in Shanghai in October insurance premium income dropped 17.43%

Shanghai Bao Jianju data released yesterday showed that in October this year, each of the Shanghai 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. By contrast, 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, the Chinese-funded insurance premium income of 43,612,000,000 yuan, an increase of 49.72 percent, the market Share increased to 83.81 percent.



The premium income of foreign insurance companies have fallen sharply, the industry view is that the Bank of security is strictly business experience led to the foreign-funded insurance premiums continued to decline in the second half of the key reasons. Some foreign-funded insurance silver in the overall insurance business premium income of more than 80% of proportion, the structure of the business in the China Insurance Regulatory Commission strictly controlling the scale of Bank and Insurance Company under the pressure, is particularly vulnerable. According to the Shanghai Insurance Association released data show that the proportion Bank security Haikang more than 80% of insurance premium income in June for 30,309,800 yuan, the premium income in October was 9,403,900 yuan, down 68.97 percent market share of more Is a decline by half. Of these, the company's October monthly insurance premium silver only 6,116,200 yuan, the ring fell more than 80%, 94% year-on-year decline.

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