The formation of insurance industry in China. 1, introducing foreign investment. /kloc-At the beginning of the 9th century, western powers began to invade the East, and foreign insurance companies entered China, becoming tools for insurance capital export and economic aggression. The earliest insurance companies in China were British businessmen. Guangzhou Insurance Company was established in Guangzhou, 1805. Especially after the Opium War, the United States, France, Germany, Japan and other countries set up insurance companies in China to control the insurance market in China by virtue of various privileges granted by a series of unequal treaties signed with the Qing government. 3. Foreign insurance companies have seized the insurance market in China, and the influence of western insurance concepts has led China businessmen to follow suit. The development of national insurance industry in China. 4. 1937 After the outbreak of War of Resistance against Japanese Aggression, the national insurance industry suffered a heavy blow. 5 5. 10/October 20th, 1949, 19, China People's Insurance Company was formally established. The company's basic policy is "to protect state property, ensure production safety, promote material exchange and enhance people's welfare". The establishment of China People's Insurance Company marks the beginning of new China insurance industry. 6. Due to the "Left" wrong idea, the domestic insurance business was forced to stop in June 1958, and it was suspended for 20 years until June 1980. Before 7. 1988, the insurance industry in China was monopolized by the People's Insurance Company of China. This insurance market model of monopolizing insurance business will inevitably hinder the healthy development of China's insurance industry. Because this insurance monopoly model shows the disadvantages of "triple emphasis and three lightness" in practice: First, it emphasizes the plan and ignores the market. Insurance companies at all levels pay close attention to the decomposition, implementation and assessment under the overall planning of the state, but are indifferent to the changes in insurance demand in the market. Second, attach importance to development and neglect service. Many grass-roots insurance companies encounter difficulties in operation and management, and they always hope that the superior leaders will tell them, and the superior leadership departments will issue documents, ignoring experience summary and improving service quality. Third, focus on the immediate, light long-term. That is, only pay attention to the current exhibition industry, renew insurance, and ignore market changes, business development trends and scale research. 8. From 1980 to 1988, China People's Insurance Company was the sole operator of the insurance market. Later, in order to adapt to the new situation of reform and opening up and the social demand for insurance, the insurance market in China was gradually opened, and commercial insurance companies such as China Pacific Insurance Company, China Ping An Insurance Company, Xinjiang Corps Insurance Company, Shanghai AIA Company and An Tian Fire Insurance Co., Ltd. were established. The pattern of exclusive monopoly in the insurance market has been broken. 9. 1996, China People's Insurance Company was restructured into China People's Insurance Group Company; Reorganize the institutions of Pacific Insurance Company and Ping An Insurance Company; Taikang Insurance Company, Xinhua Life Insurance Company, Volkswagen Insurance Company, Tianan Insurance Company, Huatai Insurance Company, Yong 'an Insurance Company and Hua 'an Insurance Company were established one after another. American International Assurance Company, Tokyo Marine Insurance Company, Hong Kong Private Insurance Company and Canadian Manulife Insurance Company have successively been allowed to operate in individual cities in China ... and compete with each other in the insurance market in China, forming a beautiful landscape of China's economic development. By the end of 2007, there were 62 Chinese-funded companies and 45 foreign-funded companies in China. In addition, there are 2,297 professional insurance intermediaries. In 2007, the original premium income of China insurance industry was 700 billion yuan. In the first half of 2008, the original premium income of China insurance industry was 56 179 1 100 million yuan, of which the original premium income of property insurance was1299.27 billion yuan, and the original premium income of personal insurance was 43186.4 billion yuan. The original insurance payment expenditure was154.388 billion yuan, and the total assets of the insurance industry reached 3,023.589 billion yuan. In terms of economy, population size and growth rate, China's life insurance market potential is the best in the world. According to the statistics of China Insurance Regulatory Commission, the total premium income of China's insurance industry increased from 65,438+139.3 billion yuan in 1999 to 492.7 billion yuan in 2005, with a compound annual growth rate of 23.43%, especially the life insurance industry. The total premium income of China Life increased from 87.2 billion yuan to 369.7 billion yuan, with a compound annual growth rate of 27.22%. According to the latest data released by the China Insurance Regulatory Commission, from June 1 to June 1 in 2006, the premium income of life insurance companies nationwide was 37,365,438+52 million yuan (RMB, the same below), with a year-on-year increase of 10.66%. From June 5438+0 to June 5438+00, the premium income was 3380.1200 million yuan. According to the 11th Five-Year Plan for Insurance Development in China issued by the China Insurance Regulatory Commission in 2006, by 20 10, the insurance depth (referring to the proportion of total premium income to GDP) will reach 4%, and the premium income will exceed 1 trillion yuan. There is huge room for future development of the insurance industry. The insurance industry has been fully opened to the outside world, attracting foreign competitors, but the market share of foreign insurance is still very small. For the national insurance industry, the entry of foreign companies is both a pressure and a challenge. In order to compete for the insurance market, the competition among insurance companies is fierce. China's insurance industry should seize this opportunity, learn from the advanced management technology and experience of foreign insurance companies, improve its own service quality and management level, survive and develop in the competition, actively develop China's insurance industry and promote the development and perfection of China's insurance market.