Overview

IBISWorld’s Property, Car & Other Non-Life Insurance market research report is a comprehensive guide to market size and growth prospects. Our industry reports offer strategic industry analysis of the factors influencing companies, including new product developments, economic, lifestyle and demographic influences, distribution and supply chain factors and pricing issues. Full analysis accompanies our data forecasts to illustrate how the market responds to emerging industry trends.

Industry Analysis & Industry Trends

Revenue for the Property, Car and Other Non-Life Insurance industry in China in 2016 is estimated at $159.5 billion, up 6.8% from 2015, with annualized growth of 13.6% for the past five years. A major driver of industry growth in recent years was the Chinese government's implementation of compulsory motor vehicle accident liability insurance in 2006.

The number of industry enterprises is estimated at 77, growing 5.5% per year since 2011. The top four participants – The People's Insurance Company (Group) of China, Ping An Insurance, China Pacific Insurance, and China United Property Insurance Company – in the industry are expected to account for 68.5% of total revenue in 2016...

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Industry Report - Industry Investment Chapter

Insurers within the industry have been investing substantially in branch networks. They usually establish offices in central cities and therefore require large amounts of capital to purchase or rent real estate. The entry of foreign insurers intensified industry competition in recent years. Many non-life insurers have been developing second-tier markets to increase their market share. Capital requirements increased with the rising number of establishments.

A large number of employees are required in the industry. Total wages are expected to account for 3.4% of industry revenue in 2016, excluding commissions paid to insurance brokers and agents. The majority of staff within the industry is sales people, whose incomes mainly rely on sales commissions.

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Additional Insights for the Property, Car & Other Non-Life Insurance Industry

IBISWorld identifies 250 Key Success Factors for a business.The most important for the Property, Car & Other Non-Life Insurance Industry are

  • Having a good reputation
  • Ability to educate the wider community
  • Having an extensive distribution/collection network
  • IBISWorld analysts also discuss how external factors such as Domestic Goods Prices - Motor Vehicles and Household Disposable Income in the Property, Car & Other Non-Life Insurance industry impact industry performance..

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    Industry Products

    What is the Property, Car & Other Non-Life Insurance Industry?

    This industry provides property insurance, motor vehicle insurance, transportation insurance and reinsurance. Life insurance and health insurance are not included in this industry.

    Industry Products
    Motor vehicle insurance
    Other non-life insurance
    Property insurance
    Cargo transportation insurance
    Industry Activities
    Property insurance
    Motor vehicle insurance
    Transportation insurance
    Reinsurance
    Other non-life insurance

    Table of Contents

    About this Industry
    Industry Definition
    Main Activities
    Similar Industries
    Additional Resources
    Industry at a Glance
    Industry Statistics Snapshot
    Industry Structure
    Executive Summary
    Industry Performance
    Executive Summary
    Key External Drivers
  • Domestic Goods Prices - Motor Vehicles
  • Household Disposable Income
  • Industry Regulation
  • Stock Market Performance
  • Systems and Technology - Finance and Insurance
  • Interest Rates

  • Current Performance
  • Industry development
  • Chart: Revenue Growth

  • Industry Outlook
  • Table: Property, Car & Other Non-Life Insurance Industry Revenue Outlook

  • Industry Life Cycle
  • Life cycle reasons
  • Chart: Benchmarking - Property, Car & Other Non-Life Insurance Industry Lifecycle vs The Economy

  • Products & Markets
    Supply Chains
    Key Buying Industries
  • Insurance Brokers & Adjusters

  • Key Selling Industries
  • Financial Trusts and Management Services

  • Products & Services
  • Motor vehicle insurance
  • Other non-life insurance
  • Property insurance
  • Cargo transportation insurance
  • Chart: Property, Car & Other Non-Life Insurance Industry Products and Services Segmentation

  • Demand Determinants
    Major Markets
  • Insurance agents
  • Direct sales
  • Insurance brokers
  • Chart: Major Market Segmentation for the Property, Car & Other Non-Life Insurance Industry

  • International Trade
    Business Locations
    Chart: Business Locations by State
    Competitive Landscape
    Market Share Concentration
    Key Success Factors
    Cost Structure Benchmarks
  • Profit
  • Claims and insurance liability funds
  • Commissions
  • Rent
  • Other costs
  • Chart: Cost Structure Benchmarking – Sector vs Property, Car & Other Non-Life Insurance

  • Basis of Competition
  • Price
  • Product differentiation and brand awareness
  • Foreign versus domestic enterprises

  • Barriers to Entry
  • Table: Barrier to Entry Checklist for the Property, Car & Other Non-Life Insurance Industry

  • Industry Globalization
    Major Companies
    The People's Insurance Company (Group) of ChinaPing An Insurance (Group) Company of China, Ltd.China Pacific Insurance (Group) Co., Ltd.China United Property Insurance CompanyChina Continent Property & Casualty Insurance Co., Ltd.
  • Table: The People's Insurance Company (Group) of China - financial performance
  • Table: Ping An Insurance (Group) Company of China, Ltd. - financial performance
  • Table: China Pacific Insurance (Group) Co., Ltd. - financial performance
  • Table: China United Property Insurance Company - financial performance
  • Table: China Continent Property & Casualty Insurance Co., Ltd. - financial performance

  • Operating Conditions
    Capital Intensity
  • Chart: Level of Capital Intensity for the Property, Car & Other Non-Life Insurance Industry
  • Chart: Tools of the Trade: Growth Strategies for Success

  • Technology & Systems
    Revenue Volatility
  • Chart: Volatility vs Industry Growth

  • Regulation & Policy
    Industry Assistance
    Key Statistics
    Table: Industry Data for the Property, Car & Other Non-Life Insurance Industry
    Includes:
  • Industry Revenue (2007-2021)
  • Industry Gross Product (2007-2021)
  • Establishments (2007-2021)
  • Businesses (2007-2021)
  • Employment (2007-2021)
  • Wages (2007-2021)
  • Total Assets (2007-2021)

  • Table: Annual Percentage Change for Key Industry Data
    Table: Key Ratios for Industry Key Data
    Jargon & Glossary
    Liability Insurance
  • A compulsory form of insurance for those at risk of being sued by third parties for negligence.
  • Property Insurance
  • Provides protection against most risks to property, such as fire, theft and some weather damage.
  • Reinsurance
  • A means by which an insurance company can protect itself with other insurance companies against the risk of losses.
  • Why buy this report?

    IBISWorld industry market research reports enable you to:
    • Find out about key industry trends
    • Identify threats and opportunities
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    This report on Property, Car & Other Non-Life Insurance:
    • Provides Market Size information to assist with planning and strategic decisions.
    • Includes the necessary information to perform SWOT, PEST and STEER analysis.
    • Helps you understand market dynamics to give you a deeper understanding of industry competition and the supply chain.
    • Analyses key performance and operational metrics so that you can benchmark against your own business, that of your customers’ businesses, or your competitors’ businesses.
    The Property, Car & Other Non-Life Insurance market research report includes:
    • Historical data and analysis for the key drivers of this industry
    • A five-year forecast of the market and noted trends
    • Detailed research and segmentation for the main products and markets
    • An assessment of the competitive landscape and market shares for major companies
    • And of course, much more

    IBISWorld reports on thousands of industries around the world. Our clients rely on our information and data to stay up-to-date on industry trends across all industries. With this IBISWorld Industry Research Report on Property, Car & Other Non-Life Insurance, you can expect thoroughly researched, reliable and current information that will help you to make faster, better business decisions.

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