Smaller Insurance Companies Apply for Opening More Branches

During the basic 15 days of this time, 15 insurance companies of China's Mainland practical to porcelain Insurance Regulatory Commission in place of opening kindling.

Among them, Anbang Life Insurance Co. Has been accepted to release four kindling in Shanghai, Henan, Hubei and Liaoning correspondingly; and Hexie Health Insurance Co. Has besides traditional the regulatory support in place of it to release kindling in Hebei, Guangdong and Sichuan correspondingly.

Clothed in addition, Beijing-based Happy Life Insurance Co. Has been certain the support to organize in place of a Henan side and a Shanxi side; porcelain Post Life Insurance Co. Has won the support in place of it to release a branch in Zhejiang and an extra branch in Jiangsu; the economic core Shanghai-based Sino Life Insurance Co. Is permitted to release kindling in Guangxi and Xinjiang, two self-governing regions of the terrain; Aeon Life Insurance Company is permitted to release kindling in Dalian and Sichuan correspondingly; and an extra single called Sun Life Everbright Life Insurance Co. Is accepted of a branch in Sichuan and single in Shanxi.

Among the above-said 13 life insurance firms, three rank between the top 10 life insurers of the terrain, single ranks as No.8 and the carry on single ranks in the 57th place. With their marketplace share suitable bigger, the nation's six leading life insurance companies maxim a combined marketplace share of 81.02% throughout the basic 11 months of carry on time, down 3.01 percentage points from the same episode of 2009.

Clothed in the meantime, five insurers maintain gotten the support of the insurance industry controller to reload the wealth bases. They include four life insurance institutions. Sino Life Insurance Co. Will increase in intensity the wealth center by CNY 821 million to CNY 4.4 billion; Sinatay Life Insurance Company Limited is to add the registered wealth by CNY 301 million to CNY 1.47 billion; porcelain Ping An Health Insurance Co. Is going away to raise the wealth center by CNY 125 million to CNY 625 million; and Zhongrong Life Insurance Co. Will increase in intensity the wealth center by CNY 80 million to CNY 300 million.

Another single is a property insurer called TIANAN Insurance, which will reload the wealth center by CNY 2.1 billion. During the basic 11 months of 2010, the Shanghai-based company reaped the premium revenues of CNY 7.57 billion, an increase in intensity of 17.6% time on time, still lesser than the usual growth rate of domestic property insurance marketplace.