Commercial Non-Life Insurance Brokers in China
NEW YORK, Feb. 5, 2013 /PRNewswire/ -- Reportlinker.com announces that a new market research report is available in its catalogue:
Commercial Non-Life Insurance Brokers in China and the BrokerBASE™ that accompanies it investigate the importance of brokers in the distribution of non-life insurance for businesses in China. This report first provides unique data for the size, segmentation and growth of the Chinese commercial non-life insurance market itself. It then quantifies the share of this market that is intermediated by brokers and, based on extensive primary research covering around 100 broking entities in total, it ranks the leading 40 brokers in China according to their revenues from commercial non-life insurance, excluding income from other activities such as personal lines and employee benefits.
This report provides unique data in the following areas:
- the value of commercial non-life insurance markets for 2008 to 2012;
- the share of this market distributed by brokers in 2008 and 2012;
- the revenues generated by commercial non-life insurance business for brokers in 2008 and 2012;
- the concentration of the market for commercial non-life insurance broking;
- forecasts for 2016 for the value of commercial non-life insurance premiums, brokers' share of this market and their revenues from commercial non-life insurance business.
Moreover, the report and the BrokerBASE™ that accompanies it can be used in one or more of the following ways:
- to quantify the size and dynamism of the broker market for commercial non-life insurance in China;
- to utilise a single comprehensive source of information that uses a uniform methodology to size the underlying commercial non-life insurance market and to quantify brokers' share of distribution;
- to assess a range of potential business opportunities: from selecting targets for acquisition to niche product development and ideas for distribution partnerships;
- to understand the competitive landscape in China through its market concentration, the importance of international brokers, and brokers' distribution strategies;
- to identify the leading brokers in China, with coverage of competitors such as Aon-COFCO, Jiang Tai, Tai Ping, Willis and Yingda Changan.
0.0 EXECUTIVE SUMMARY
What is this report about?
The focus is uniquely on commercial non-life insurance, excluding other types of business...
...and on brokerage, even where intermediaries can act as both agents and brokers.
Market data analysis
2.0 MARKET ANALYSIS
Foreign brokers have been allowed to establish wholly-owned subsidiaries since December 2006...
...although they cannot yet benefit from business opportunities in the fast-growing SME sector
The CIRC issued significant new regulations for insurance brokers in June 2012
Commercial non-life insurance market
Commercial non-life premiums grew at a real compound annual rate of 16.9% between 2008 and 2012...
...with motor and liability insurance outperforming other segments
Commercial non-life insurance brokers
Overview of brokers' presence in the distribution of commercial non-life insurance
Brokers have established a notable presence in several commercial product segments
Commercial non-life insurance is the biggest source of income for most of the larger brokers...
... although the revenue mix for several also includes personal lines, group benefits or reinsurance
Competitor trends and specialisms
The top ten brokers account for less than 50% of commercial non-life insurance broking revenues
The largest shareholder in the leading broker is China's state-owned electricity company
Aon-COFCO is the largest broker among those with foreign participation
Jiang Tai Insurance Brokers is about to be listed on the stock market
Having entered the market in 2004, Willis opened its 22nd office in China in August 2012...
...while Marsh has become a market leader in D&O insurance
Union Insurance Brokers provides cover for more than 180,000 schools across the country
Air Union Insurance Brokers is specialises in organising insurance for clients in the air travel sector
CNinsure is seeking to increase revenues from commercial non-life insurance
The Chinese operations of Jardine Lloyd Thompson and Lockton remain outside the top 40
Brokers' distribution strategies
Five of the top 40 brokers can be described as regional specialists
Product specialism is rare but client sector specialisation is a bit more widespread
Among the top 40 brokers, online sales of commercial non-life insurance have yet to start
Several brokers outside the top 40 have joined international broker networks
Commercial non-life insurance broking revenues are predicted to grow by over 75% by 2016
LIST OF GRAPHICS / TABLES
0.0 EXECUTIVE SUMMARY
Key market data for commercial non-life insurance brokers in China
2.0 MARKET ANALYSIS
Segmentation of the commercial non-life insurance market in China, 2012
Growth in the commercial non-life insurance market in China by segment, 2008 to 2012
Size and growth of the commercial non-life insurance market in China by segment, 2008 to 2012 (table)
Brokers' share of the commercial non-life insurance market and revenues earned from it in China, 2008 and 2012
Brokers' share of the commercial non-life insurance market and revenues earned from it in China, 2008 and 2012 (table)
Market concentration for commercial non-life insurance broking in China, 2011
Market shares of commercial non-life insurance broking revenues of the top ten brokers in China, 2011
Importance of different types of insurance broking for the top 40 commercial non-life insurance brokers in China
Importance of different types of insurance broking for the top 40 commercial non-life insurance brokers in China (cont.)
Brokers' forecast share of the commercial non-life insurance market and revenues earned from it in China, 2016
Brokers' forecast share of the commercial non-life insurance market and revenues earned from it in China, 2016 (table)
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