Shanghai to launch insurance index
( 2001-12-13 10:49) (1)
The city will launch China's first insurance industry indicator, or insurance index, next year, said an official with the China Insurance Regulatory Commission (CIRC).
"The quarterly index will serve as a weather vane for the market, providing a comprehensive indicator of the development, prosperity and competitiveness of Shanghai's insurance industry," said Zhou Yanli, head of CIRC's Shanghai office.
The index consists of four indicators, including a business volume indicator, market scale indicator, an indicator of the status of insurance in national economy and an insurance companies profit indicator.
Professor Han Tianxiong from East China Normal University said the system and index will provide market players and the government with a perfect tool to analyze trends in the market so they can forecast market prospects.
Experts said the establishment of the index indicates that Shanghai is in the forefront in China's insurance industry.
The city is now home to 33 insurance companies and brokers, including 14 foreign insurers. Four more will join them soon. And a total of 44 overseas insurance institutions have opened representative offices in Shanghai.
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