Run in 32 bank insurance cooperation required life insurance companies premium growth

Since the financial crisis, China has a steady rise in the total share of life insurance and premium income. As of April 19, some 61 domestic life insurance companies. However life insurance markets there is monopoly, top five companies account for a market share of around 70%. Controversy over the Bank entered the life insurance market, the industry said, banks insurance companies entering the market development will be a great boost. "Life insurance premium income in China over the past 5 years the average growth rate of 24% per cent. Whole life insurance to national economic growth rate of about 2.5 times faster development around. "Recently, Xinhua life insurance He Zhiguang visit Shanghai Jiao Tong University, President of overseas high-end seminar, Faculty of education, is the Chinese life insurance market. He Zhiguang also stressed that the current per capita premiums and still have a long way compared to other countries, the domestic life insurance industry still faces numerous difficulties. Recommended reading insurance weekly: variable amount annuity pilot started Beijing Shanghai five city first wins insurance enterprises violations promotions penalty 500,000 insurance ring "Wang yawei" emerge surface exaggerated income does not to risk silver insurance disputes constantly should first to family "pillar" Shang foot insurance regardless of from lost insurance is zehui Shi Qiming jointly immortal see disk build boutique lecture Xinhua insurance Deputy President Liu Yigong has said, macro level Shang promote China life insurance development of driven force many, China economic of balanced development, per capita GDP of stability growth are became life insurance growth of stability impetus. In addition, the structure of urbanization and population ageing will have a profound impact on the life insurance industry. It is understood that, as the perfection of the social security system in China, product and channels for continuous innovation in China's life insurance industry, the industry competition will drive significant growth in the industry. Particularly important is, current investment restrictions gradually let go of insurance asset management, this enables insurance companies to participate in equity investment and infrastructure construction and other fields. He Zhiguang stressed that the mixed management of banks and insurance as a new competition of the prominent role of the subject. Banks for capital to enter the insurance industry has a big boost, while itself of bank insurance companies entering the market development will be a big boost. He said that "bank insurance business now is around 50% per cent total business, but this ratio be higher in the future. "In fact, banks and insurance companies since the new deal, 2011 insurance Enterprise General weak growth in premium income in the first quarter. 32 life insurance company of the country in the first two months of the year premium income growth, which has 10 life insurance companies decline in premium income of more than 50%. Analysts say, next to the main channel of personal marketing channel as premium income to build, influence weakened banks, at the same time innovative sales channel, speed up the network construction of emerging channels such as sales, telephone sales.