Foreign firms' share of the overall insurance market is expected to hit 10% by 2010, according to a recent PricewaterhouseCoopers study
China's life insurance sector is becoming crowded. Just seven years ago there were no more than a dozen companies active in the market. At the end of 2006, this had risen to 46, over half of them foreign joint ventures.
At least 10 more foreign names are likely to be added to this list over the next three years, according to the majority of overseas insurers interviewed for a recent PricewaterhouseCoopers (PwC) survey. A similar number of respondents said they expect the foreign firms' share of the overall insurance market to hit 10% by 2010. Last year, this share stood at 5.9% in the life sector and 1.2% in the property and casualty sector...
Business Week: Big Plans for China's Life Insurance Market