What is the analysis of the development prospects of the insurance industry in 2021? 2 Comments / Default / By huanggs
2 thoughts on “What is the analysis of the development prospects of the insurance industry in 2021?”
my country's insurance industry is in a high -speed development period
Since joining the WTO, China's insurance industry has gone through four stages: recovery stage, development stage, and high -speed development. It is currently in a period of rapid development.
1. There are many subjects of participants, and the rapid growth of the number of Chinese insurance companies
The participants in China's insurance industry mainly include insurance groups, Chinese -funded insurance companies and Chinese and foreign joint venture insurance companies. According to data from the National Bureau of Statistics, from 2010 to 2019, the number of Chinese insurance system institutions increased year by year, and the number rose from 142 to 235. Among them, the Chinese -funded insurance company institutions increased from 81 to 160. The number has also increased significantly, and the insurance industry has developed rapidly in China. The number of Sino -foreign joint ventures has not changed much, and only 8 have increased.
2, the scale of total assets continued to expand
2011-12020, the total scale of China's insurance industry's total assets continued to expand, from 5.98 trillion yuan to 23.3 trillion yuan, with an average annual compound growth rate of 16.3%. In terms of growth rate, since 2017, China's total assets have slowed down significantly, about 10%, and the growth rate of assets in China's insurance industry in 2020 was 13.3%.
3, premium income and payout expenditure increased year by year
2010-2020, my country's original insurance premium income increased year by year. In terms of growth rate, the growth rate of insurance premium income in my country from 2011-2016 showed a climbing trend. After 2016, it declined for two consecutive years, but in 2019, it has recovered. In 2020, the annual insurance premium revenue was 4525.7 billion yuan, a year -on -year increase of 6.1%. From 2010 to 2020, the insurance industry compensation expenditure increased year by year, with the largest increase in 2013 to 31.7%. After 2016, the growth rate of insurance compensation expenditure fell, and the growth rate of 2017-2020 remained between 4%-10%. In 2020, the original insurance compensation expenditure was 1390.7 billion yuan, an increase of 7.9%year -on -year.
4. The decline in property insurance shares, the proportion of health insurance increases
From 2011-2020, the premium income of various insurance breeding premiums, my country's property insurance, life insurance, health insurance, and accident insurance premium income have continued to increase. Among them, the proportion of life insurance premium income in my country's original insurance premium revenue is always at the highest level, while accident insurance premium income is maintained at a low position. In 2020, my country's property insurance accounted for 26.36%of total premium revenue; life insurance accounted for 52.99%; health insurance accounted for 18.06%; accident insurance accounted for 2.59%.
In comprehensive: Through these data, it is not difficult to see the development of the insurance industry in 2021. Overall is still on the rise, and the structural differentiation is obvious.
Insurance industry related companies: PICC Property