According to the Shanghai Insurance Association data show that foreign insurance companies in October in Shanghai's market share a year ago by 31% to 17.08%. Analysts attributed the domestic stock market, the consumers of their investment products launched in lost interest, in addition to the domestic introduction of the new regulatory restrictions on the sale of insurance products through banks is another reason.
AIG is China's largest foreign market, the insurance companies. Data show that the Shanghai market, the company's premium income in October fell 18.7 percent, a smaller market share of foreign trade, a greater decline in premium income, of which Germany Allianz 79% reduction in the United States Metropolitan Life Insurance dropped 81 percent; and The entire insurance industry in Shanghai in October's premium income has grown by nearly 40%.
Analysts believe that the overseas credit crisis is not a drag on foreign insurance companies only reason. United Securities analyst Zhang Li said: "The bull market in investment-type insurance policy when the foreign-funded insurance companies will help attract customers, but now that the appeal has disappeared."
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