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Foreign property insurers step up China development

(chinadaily.com.cn)
Updated: 2009-10-31 14:34

Despite the impact from slowing foreign direct investment and falling exports in China, foreign property and casualty insurers are still confident in the country and are adjusting their global operation policies through further development with Chinese clients.

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In the first eight months of 2009, foreign property insurers took a share of only 1.05 percent in terms of premium income from original insurance, 0.15 percentage points lower than the 1.2 percent for 2008, according to the latest statistics from the China Insurance Regulatory Commission (CIRC).

A survey by the CIRC Shanghai Bureau shows that in the municipality, 37.5 percent of multinational insurance companies saw a lower premium income and 77.5 percent of insurance institutions had a smaller profit compared with one year ago.

However...

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