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More foreign insurance giants invest in China

(Chinanews.cn)
Updated: 2006-07-25 15:39

With China continuing to open up its insurance industry, more and more international insurance giants have set foot in China's market.

Attracted by the huge potential of China's insurance market, the international insurance players come to China in a continuous stream. According to related statistics, the average annual growth rate of the insurance revenue had exceeded 25 percent in the previous five year in China. Insurance premiums in China had reached 492.7 billion yuan, the total assets of China-based insurance companies had surpassed 1.5 trillion yuan worth.

By the end of 2005, there were 82 insurance companies in China. Foreign-invested companies had reached 40, nearly half of the total number. Twenty-eight of the 46 insurance companies on the list of Fortune 500 had established businesses offices in China.