in addition to several "Vanguards"

On December 12, 2001, the then Premier Zhu Rongji signed the People's Republic of China foreign insurance companies regulations, Chinese insurance market formally opens to foreign investment. Gates open, the insurance "Wolf" voice of Judah in the ears, then "Wolf sheep saying" throughout the entire ten years after entry into WTO. With the rapid growth of Chinese insurance companiesExhibitions, as well as new companies join, foreign insurers ' premium income reduction swtor power leveling, shrinking market share, Executive changes frequently, business stability, sustainability encounter challenges, the so-called "joint ventures", "out back" full of life. Main capital stocks (eleven-twenty fifths) unit fled to cut meat must regret having sudden boom is not likely in a move investors Gospel: To entangle the stock saved! The first 9 months of this year, foreign market share hit a nearly five-year low, the life insurance company's market share fell back to 3.75%. Decline in market share led to elongate the profit cycle, can overcome the "7-year itch" foreign life is rare. At the end of 2010, only 7 of the 25 foreign life insurance a profit������Most folding JI foreign insurance companies in China. Foreign shares shrank to the end of 2005, with the exception of foreign casualty not operating risk, foreign investment and establish life insurance companies must be joint ventures and stock ownership restrictions such as not more than 50%, domestic insurance industry have been fully opened to the public. Ten years, foreign companies on the healthy development of China's insurance market has had a profound effect, especially in the pipeSystems, service concept, product innovation, and innovation, and so on.����But have to admit is that these ten years, in addition to several "Vanguards", all the other foreign firms to develop hard optimism. According to the China insurance regulatory Commission statistics, in 2001, foreign insurance companies operating in China a total of 16 premium size 4.62 billion yuan, the market share percentage1.5%. The next few years, foreign insurance companies entered a period of rapid expansion. By 2005, to 40 the number of foreign insurance companies, insurance premium revenue of $ 34.12 billion, including foreign life market share jumped to 8.9%. But starting in 2006, the market fell. 2008 also made many international financial institutions of the financial crisis hit,Has affected its strategy in domestic, foreign insurance companies premium income was negative.����The end of 2010, although the number of foreign insurance companies has exceeded 50, but the market share has fallen to 4.4%. In January-September this year, foreign life primary insurance premium revenue of 28.669 billion yuan, accounting for only about 3.75% of the total life insurance premiums; foreign casualty primary insurance premiumRevenue $ 3.881 billion, accounted for casualty total premium income of 1.07%, while the ratio of peak of 1.31% at the end of 2005. Among them, among the foreign life topped the AIA market share is 0.77%, and this data in 2004 is 1.26%, scale and Taiping life insurance premium were evenly matched with the same period. But from 2004 toIn 2010, Taiping life has $ 6.4 billion from the total premium scale, to the development of 33 billion dollars, and AIA insurance premium scale only increased from $ 4.8 billion to $ 8.4 billion.����Taikang, Xinhua, the Chinese company annual premium total size compared to growth in 2004 also had four or five times, Minsheng life growth of almost 7 times times. Foreign soil at the beginning of China's entry into WTO, ChinaOnly China life insurance, ping an life insurance company, Pacific life, Taikang life and new China life insurance, life insurance company of the very few active.����With the new members of the Chinese continued to join, along with veteran owned life insurance companies invest heavily in punches, objectively caused foreign life and changes in the Chinese life insurance the decline. Although many Chinese company management experience and technology base does not have foreign advancedBut they are rooted in local culture, better understanding of the characteristics of the domestic market and demand-oriented. For example, UNITA insurance mainly engaged in agricultural insurance, but UNITA Chengdu branch is the only company in the local agricultural insurance company did not receive government subsidies.����This also reflects foreign investment insurance relative disadvantage in dealing with the local governments at all levels. Foreign life companies suffer a serious climate sickness, from an objectivePlain view, China's foreign capital market environment and market environment is very different from the home country of shareholders, to its successful experience in the foreign shengban to China, but landed hard. Deputy General Manager of a foreign insurance company told reporters that the company was initially the foreign shareholders to the joint venture company cost control are very strict, this is right, but often not in line with China's national conditions. For example foreign rulesThe company top management standard meal ceiling of US $ 40/meal, combined with the exchange rate at the time, General Manager, hosted customers cannot exceed $ 300 each meal. This is clearly not in line with China's national conditions, this is a problem with foreign communication for a long time. The source said, similar problems many of the details of this business management of differences, inevitably cause under the improvement of communication cost and efficiency in the implementationDrop. At the same time, in terms of investment, foreign shareholders more cautious attitudes towards non-fixed-income investments, coupled with the small size of the investment, resulting in a joint venture life insurance company's rate of return on investments is less than domestic firms.����However, foreign companies in order to attract talented people, tend to pay higher than domestic firms, resulting in higher labor costs of the status quo. Thus, to meet the profitRequirements, some companies have to price move on. A foreign life for a life insurance product that assessment rates only 1.79% than scheduled a 2.5% rate cap low regulation, causing the cash value of the product to be slashed, damages the surrender of customer interest. A joint venture life insurance company told reporters.Climate sickness, a localization of talents around the topic is not open, particularly senior managers of localization.����Statistics show that as of April this year, the reply of China insurance regulatory Commission involving foreign insurance company personnel had 128 passengers, with the exception of two reinsurance companies outside, involving foreign 40 life insurance companies, almost all foreign life insurance companies. Foreign investment insuranceDivision has since entered the Chinese market, still has few of the first President to power. Joint life is one, which is more representative, Vice President, 7 in addition to the 1 person outside the company was founded the following year to join, the remaining 6 were all for the company was founded 8 years ago when the former staff. Is so different from other companies, 4 of 6 from the Sino-British life shareholder;In 2010, after Tan Qiang as General Manager, fidelity one after another to enable a number of local executives.����At present, 8 executives of the company's official website displays all come from the Mainland. But in contrast with headquarters is, in a number of local branches of foreign companies, talent scrimmage continues. A local branch of a joint venture life insurance company told reporters, as institutions expand, talentLack of many joint ventures "local" became King of jump.����Local branch of a company Vice President, just a few years had already been working separately over AIA, Italy, the United Kingdom and Germany local branches of several companies such as Allianz, "hopping frequencies higher than sales". Access "reef" forced retreat of foreign investment since the end of 2004, China insurance regulatory Commission on foreign insurance companies takeEliminating geographic restrictions.����But in actual operation, foreign companies still subject to numerous restrictions. For example, although there is no branch approval mandatory, but first year joint venture life insurance company in China to open a branch office, better before they can open a second branch, compared to domestic life insurance company in 5 or 10 branches at every turn, a joint venture insurance agenciesThe pace of expansion is obviously much slower.����Stringent regulatory restrictions on foreign insurance capacity for regional development, market segmentation and product innovations.����The pace of expansion is contained, leading to foreign insurers are too concentrated in Beijing, Shanghai, Guangdong, Shenzhen and other cities and areas of open earlier, crowding together and to foreign insurance companies makes tourists greatly diluted. "It is more regulators to protect ChineseA policy of insurance enterprises, need to give their companies a plenty of time and space.����"Column star wars the old republic power leveling, in the case of capital economy-trade University Professor Tuo country said. In his view, the WTO does not allow foreign capital to participate in professional insurance agencies also follow this logic, "before the WTO, China is not a professional insurance intermediaries, if foreign mature companies come in, certainly we won't. So our WTO yearsThousands of publicly funded intermediary companies, it is also clear position during the WTO negotiations. "To the end of 2004, the joint venture foreign ownership of insurance brokerage firms may go to 51%.����In 2006 the WTO five years when foreign insurance brokers are allowed to wholly-owned, have long been hoping the United States and the United Kingdom Wei Lai began to punch. Access to regulatory requirementsChinese insurance companies shall operate "high risks". But not "high risks", you cannot open commercial vehicle insurance, because consumers tend to be completed at an insurance company at the same time "strong risks" and be insured for commercial vehicle insurance.����A foreign casualty company sources said.����Such restrictions, insurance circles in recent years frequently staged "out back" show. The China insurance regulatory Commission 2011 years displayed month return on the original insurance premium income life insurance company, Sun has been impressively in Chinese of China Everbright life insurance, and at the end of August figures show foreign. Founded in 2002, bright sun in July 2010, gaining increased capital and ownership structure changes, and be complete by September 2010, successfully transformed into Everbright Group managedShares in Chinese life insurance company. Sun financial holding of foreign shareholders had dropped to 24.99%, down 25%. Stock reform in that year, Sun annual premium income of Everbright and set the number of new institutions has reached the last 7 years combined. More important is that on September 2 this year, Sun approved of Everbright planning asset management companies, foreign insurance company, only international assurance company with this machineRefactoring.����With bright sun also, hang Tian (later renamed as "Tian life"), the Pacific-Antai (jianxinrenshou), Haier New York life insurance company (Haier's life), and so on, while prudential life from time to time wish to go to Chinese news. Time for space with the United States hang life, Netherlands International Group, the United States New York life insurance company, United Kingdom, such as standard life and foreign financialInstitutions have withdrawal or reduction, China insurance regulatory Commission website list of foreign life insurance companies by 28 February 2010, now 25. Tuo Kunitaka recalls life insurance funding capacity of the CWTC, strong 1997 surpassed after PICC life insurance premiums, attracted the attention of regulators, "such a massive funds had been absorbed into the foreign insurance companies to be of anyThe consequences? Group life insurance would not allow foreign investment of life insurance, annuities, and through semi's ownership structure to contain each other.����"But it turns out, the equity structure often cause serious internal friction between the two sides at home and abroad. The other side of the coin, many Chinese insurance companies behind a foreign war of the shadow cast, strategic investment seems to have control over foreign insurance companies to improve more: meetingFUNG in safe, Zurich to Xinhua life insurance company, huatai-ACE, Goldman Sachs, AXA to Tai Hong9% down to 10%, but its original equity investment has appreciated about 65 times. Industry experts generally agreed that the attitude of foreign financial institutions to enter the Chinese market, shifting from holding shares, can be understood as a "space-for-time" playing, reculer pour Mieux Sauter curves, this can quickly realize the agency network laid, without regulatory system, foreign capital stocksEast supplemented by a technical support. For the future development of foreign insurance companies in China, Tuo Kunitaka believes that foreign investment should play to their advantages in terms of management, product, cede stakes is also a policy for the time being, "Goldman frequently recently sold the China Construction Bank, cash money, from which foreign insurers are able to experience the point why? "Hao Yansu has been firmly believes that,Sino-foreign joint venture life insurance company's system of restrictions should be lifted, for foreign investment in China market freedom of choice as a sole or joint ventures operate in the way of life business. However, judging from the development of international market of foreign companies, at the opening of insurance markets in most countries, foreign insurance companies ' market share was around 10%. Such as the United Kingdom is 10.3%, Japan 3.68%,Italy 3.33%, Belgium 3%, Sweden 1.12%, France 1.11%, Switzerland 0.66%, Korea 0.38%; United States casualty of market of 10.73%, 14.34%, the life insurance market. "(Schema) are mainly taking into account the importance of insurance funds in the national economy, as well as being foreign controlled insurance funds mayOf national economy and social and political impact. "A joint-venture insurance company said.