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중국보험산업의경쟁력과한국기업의진출전략

..,..,.,..,,, 90%. 1990,. WTO 2~3..

.... WTO,,...,.,.,... 2000..,,.,.

차 례 1 9 13 1. 13 2. 20 3. 30 4. 36 46 1. 46 2. 52 3. 56 4. 61 66 1. WTO 66 2. WTO 69 3. 73

76 1. 76 2. 82 3. 89 4. 93 94 1. 94 2. 99 3. 102 4. 105 106 107

표차례 <II-1> 17 <II-2> 21 <II-3> 23 <II-4> (2000 ) 25 <II-5> (2000 ) 25 <II-6> 26 <II-7> (2001 ) 27 <II-8> (2000 ) 36 <II-9> (2000 ) 38 <II-10> (2000 ) 39 <II-11> GDP 41 <III-1> (1998 ) 48 <III-2> (1998 ) 48 <III-3> (2000 ) 49 <III-4> (2000 ) 50 <III-5> 51 <III-6> (2000 ) 55 <III-7> 10 (1998 ) 56 <III-8> 59 <III-9> 62 <V-1> 2000 79 <V-2> 2000 81 <VI-1> (2001 ) 103

그림차례 <II-1> : 1989~2000 15 <II-2> 1989~2000 16 <II-3> 2000 21 <III-1> (2000 ) 47 <III-3> 60 <III-4> 60 <III-5> 64 <V-1> 80 <V-2> OECD 87 <V-3> OECD 88 <V-4> OECD 88 <VI-1> OECD 96

200112 WTO. WTO 1978 12. 1970, WTO. 20.,,.,, ( )....,. 20,.

10 WTO. 4 520..,..,.,..,,, 90%. 1990,. WTO 2~3...,.,

. 11...... WTO,,...,.,.,.... II.,,,.,. III.

12,.,. IV WTO,. V.,. VI.,.

. 13.,.,. 20,. (positioning),.,.. ( ),. 1979. 1979 11 3

14,.. 20.. 1980 ~ 86.. 1986. 1988 1991.. 1) 1992 AIG.. 1980 6.4 1) 1958,,,,.

. 15, 2001 2,109 32%. GDP. 1980 GDP ( ) 1%, 2001 2.2%. 1 ( ) 19800.472001 16921360. < 2-1> < 2-2> 1990. 500 15, 1,000 3. 2001 52 ( 32 ), 2 8 4,700. 2000 43, 9, 5, 6.

16 40% 80%. : (1994),;(1996~2001). 1995. 1998 200.,,.,. < II-1> 1998.

. 17 1), : ( ),.,..,,.,,,. 2000,,,,, 6 50%..,

18.. ().,..,,,.,.,. 33% 55%, 2001 5%..,.. 1997,. 2),. 2) 5%.

. 19,.,.,...,.,...,.,,. 1980.,. 1999 30, 20%. 50%.

20 2000 18, 4, 5, 9. 1980. 80%. 1997 50%, 1998 37.4%, 2001 32.5% ( II-2 ). 1990,.,..,,,,,,,,,,,.,,.,,. 3) 3)..

. 21 < II-3>. (376 :61%), (120 : 20%). (: ) (%) (+) (%) 1989 78.05-97.63 79.94 1990 106.76 36.78 135.17 78.98 1991 136.83 28.17 178.24 76.77 1992 47.40 7.72 211.69 69.63 1993 251.40 70.56 395.47 63.57 1994 336.90 34.01 500.35 67.33 1995 390.70 15.97 594.90 65.67 1996 452.49 15.82 776.60 58.27 1997 485.99 7.40 1,087.95 44.67 1998 499.60 2.80 1,247.30 40.05 1999 521.12 2.93 1,393.22 37.40 2000 598.40 14.80 1,595.90 37.50 2001 685.39 14.57 2,109.36 32.49 : 1989~92: (1994) 1993~2000:; 1996~2001:(2001, 1, p. 3) :(2001)

22 1980. 1989 20%,. 1990. < II-3> 1989 2001, 1997.,. AIA 1992,. 1996 40, 1998 80%540. 20019 4,630, 6, 28, 50. 4) 4) (2001)

. 23 (: ) (%) (+) (%) 1989 19.58-97.63 20.06 1990 28.41 45.10 135.17 21.02 1991 41.41 45.76 178.24 23.23 1992 64.29 55.25 211.69 30.37 1993 144.07 124.09 395.47 36.43 1994 163.45 13.45 500.35 32.67 1995 204.20 24.93 594.90 34.33 1996 324.62 58.97 776.60 41.80 1997 601.96 85.44 1,087.95 55.33 1998 747.70 24.21 1,247.30 59.95 1999 872.10 15.00 1,393.22 62.60 2000 997.50 14.40 1,595.90 62.50 2001 1,423.97 42.76 2,109.36 67.51 : 1989~92: (1994) 1993~2000:; 1996~2001:, (2001, 1, p. 3) 1990., ( : )., 1990 1990..,,.,

24. 1998 1.88%., WTO. 2000, 26 ( ),, 3 95.8%. 3 65%.,.,,, 4 50%, 20%., ( II-4 )., AIA 3 ( II-5 ).

. 25 (:, %) ( ) 13 20.2 () 8 12.4 () 24.6 38.1 () 5.7 8.8 () 13.2 20.5 64.5 100% :(2001) (:, %) ( ) 27.1 29.4 () 9.4 10.2 () 40 43.4 AIA 12.2 13.3 3.4 3.7 92.1 100 :(2001). 1980 1990,,

26. 1990,,,. < II-6> 2001 1/4 2001 4/4,,. 20011/4 (85.9%), 1 2002 1/4 68.2%, 31.8%. (:, %) 20011/4 20012/4 20013/4 20014/4 20021/4 38.6 14.1 96.8 26.1 99.8 31.5 184.4 39.8 456.7 68.2 234.1 85.9 273.9 73.9 216.9 68.5 278.8 60.2 213.1 31.8 : (2002),. < II-7>. 2001 1/4,, 54.2%, 26.7%, 19.2%. 2001 2/4, 1 2002 1/4.

. 27 (:, %) 20011/4 20012/4 20013/4 20014/4 20.9 54.2 32.9 34.0 58.8 59.0 158.9 86.7 10.3 26.7 53.9 55.7 26.4 26.5 16.0 8.7 7.4 19.2 9.9 10.3 14.5 14.6 8.5 4.6 38.6 100.0 96.8 100.0 99.7 100.0 183.4 100.0 : (2002),...,,.,,.,,.,.. 1996

28. 1996, 19993.,. 3,. 2001 18 10, 8.,,,,,,, 100.,,,. 2002 1~9 143 7 134 6, 9 1. 73 2. 98, 99, 101.,.

. 29,.,..,., 20%. 5),. () ().,,.,. 6:94 (2001 ).,.. WTO 2005. 5), 20%.

30... 6) 1979 4 1988 3.. 1985 4,. 1988 4 1995 9.. 1992 11,.,,,. 7). 6) (2000),:,, p. 138. 7),.

. 31 AIA 1992,.. 1995 10.,, (). (Independent Insurance Agency)43. (Insurance broker). 8) 1993 6 16,. 1993,, 1994. 8, 5 (, ) 23, 100. 1998 2 2000 1 (),(). 8).

32 1983 1985. 1995 1996. 1992 1996. 19971998 () ().,. 1998 11.. 1995, 1996. 19991. 1996 9 6. 4 12 (,,,,,,,,,, ). 1997,,,, 13

. 33...,...,.,..,.,..,,.

34,., 50 60%..,.,.,.,.... 9),.. 10) 9). 10) 51

. 35..,...,.,.,. 11).,,.,.,. 11),,.

36,. 2000 16, 15 18. 0.79%, 0.78%, 0.79%(II-8 ). () % () %) () % 865,327 35.41 1 422,954 48.85 1 442,373 29.08 1 504,005 20.62 2 102,521 11.11 2 401,484 26.39 2 236,960 9.7 3 57,218 6.2 4 179,742 11.82 3 123,722 5.06 4 67,465 7.31 3 56,257 3.7 5 121,910 4.99 5 37,148 4.03 5 84,761 5.57 4 63,062 2.58 6 26,383 2.86 6 36,679 2.41 7 58,348 2.39 7 14,112 1.53 10 44,236 2.91 6 46,587 1.91 8 23,330 2.23 7 23,257 1.53 8 37,617 1.54 9 15,712 1.7 8 21,905 1.44 10 36,450 1.49 10 14,854 1.61 9 21,596 1.42 11 22,790 0.93 13 7,075 0.77 16 15,715 1.03 14 19,278 0.79 16 7,228 0.78 15 12,049 0.79 18 9,933 0.41 23 2,338 0.25 29 7,595 0.5 20 :, 20021.

. 37 1. 1. 2000115.2 73, 5.7, 9.5. 385,,, 2,000. <II-9>.,, ( ).,,...,,,.,,,.,.

38.,. 1 4,642.7 1,728.7 2,9140.0 2 3,908.9 805.5 3,103.4 3 3,244.3 741.5 2,502.8 4 2,921.1 1,474.4 1,446.8 5 2,454.7 642.7 18,120.0 6 2,405.7 1,009.2 1,396.5 7 2,212.6 464.4 1,784.1 8 2,080.9 688.6 1,392.3 9 2,071.3 789.1 1,282.2 10 2,037.4 703.8 1,333.6 22 1,022.8 262.3 760.5 24 909.8 273.7 636.1 73 13.3 5.0 8.3 79 8.5 2.4 6.2 :, 20021. GDP,.

. 39 < II-10>., 13.053.,. 1.79%( 0.67%, 1.12%) 61.,. 1 16.86 2.83 14.04 2 15.78 3.07 12.71 3 13.05 3.16 9.89 4 12.42 4.70 7.72 5 10.92 2.22 8.70 7 10.14 2.64 7.50 8 9.87 4.02 5.85 9 9.41 3.37 6.04 10 9.40 2.81 6.59 12 8.76 4.28 4.48 15 7.39 2.29 5.10 61 1.79 0.67 1.12 52 2.32 0.55 1.77 :, 20021.,,. 12) 12),,.

40 GDP4%,. 2001 GDP 9 6,000 4% 3,840, 2,100 1,740. 8 4% 3,200, 2001 1,200.,. ( ),,.,. 1980~2001 9.3%., 1 5~6%...

. 41,. < II-11> GDP., 1980 2000 0.1 2.2 0.5168.8. GDP ( ) % ( % 1980 4,517.8-4.6-0.1 0.5 1981 4,862.4 7.6 7.8 69.6 0.2 0.8 1982 5,294.7 8.9 10.3 32.1 0.2 1.0 1983 5,934.5 12.1 13.2 28.2 0.2 1.3 1984 7,171.0 20.8 20.0 51.5 0.3 2.0 1985 8,964.4 25.0 33.1 65.5 0.4 3.2 1986 10,202.2 13.8 45.8 38.4 0.5 4.3 1987 11,962.5 17.3 71.0 55.1 0.6 6.6 1988 14,928.3 25.2 109.5 54.1 0.7 10.1 1989 16,909.2 13.3 142.6 29.7 0.8 12.9 1990 18,547.9 9.7 178.5 34.4 1.0 15.8 1991 21,617.8 16.6 239.7 35.9 1.1 21.0 1992 26,638.1 23.2 378.0 18.8 1.4 32.7 1993 34,634.4 30.0 525.0 86.8 1.5 45.0 1994 46,759.4 35.0 630.0 26.5 1.4 52.6

42 <II-11> GDP ( ) % ( % 1995 58,478.1 25.1 683.0 18.9 1.2 56.4 1996 67,884.6 16.1 776.0 30.6 1.1 63.4 1997 74,462.6 9.7 1,080.0 40.0 1.4 87.4 1998 78,345.2 5.2 1,247.3 14.7 1.6 100.9 1999 81,910.9 4.6 1,393.2 10.2 1.7 110.6 2000 89,404.0 8.0 1,595.9 14.8 1.8 127.7 2001 95,933.0 7.3 2,109.4 32.2 2.2 168.8 : (1999),, p. 12.;, ;(2002, 1 : p. 2)..,..,.,..,

. 43,.,,..,..,, 8%,. 1980. 1985 1.70 1996 0.71.. 1970,.. 13) 30~40,... 13) 3%. 2015 60 2 14%, 6520108.1%, 202011.5%, 205022.6% ( 2002 ).

44.,.,,.,,. 2, 3, 1. 2, 3.,,. (),,,.,,.

. 45,.,., 30 ()..,.... 2001 8, 2,100.. 14) 14) (2000),:,, p. 29.

46,,,,,.... 1998 5 49%., 5 80%..,..,

. 47. < III-1> 2000. (29%), (41%), (17%) 3 87%. AIG1%. :(2001) < III-1>, < III-2>., 5. 350%, 80%..,.

48 5 (%) 5 (%) 12 99.80 8 99.20-53.60-60.40 103 42.00 61 71.90 53 27.90 18 70.70 106 33.50 38 77.30 16 71.50 29 78.70 28 50.20 32 80.50 : Sigma No. 4, 2000. ( ) 5 (%) ( ) 5 (%) 12 99.8 8 99.2 20 86 17 89 31 80 24 98 1,393 24-52 10 97 11 93 20 88 17 88 29 86 19 91 17 87 17 87 : Sigma No. 4, 2000. < III-3>.,,. ( 99.8%, 99.2%)

. 49 ( 78.8%, 71.9%),. 15), 2000 ( ) 65% (), () 3 95.8%.. % (% 66.2 21.1(40.0) 51.8 29.3(43.4) 74.3 43.5 78.7 70.3 54.0-57.0-77.3-65.0 77.6 86.9 75.8 86.3 77.6 :(2001) < III-4>. 2000 651 7 81.1%. 67.2 10.3%. 15),.

50 (:, %) 47.6 67.2 8.7 528.2 651.7 7.3 10.3 1.3 81.1 100 :(2001).,.,,.,.,.,. 1988 4.

. 51 1991, 1994. 1995,,,,. 1980 2000 19 112, 1118. 16) < III-5>. 1994 4, 1995 1996 1998 7, 12. 19975. 1993 4 99 2,648 2,393 1994 4 126 2,652 2,620 1995 6 131 2,813 2,897 1996 13 200 5,171 3,382 1997 13 1,095 4,078 2,031 1998 25 1,100 - - 1999 27 1,100 - - 2000 27 1,120 - - :(1997);(1998, 2001). 16) 1820.

52...,,, 4.. 2~50.,,.,,,,. 3~9. 1 3.,,,,,,

. 53.,,..,,,..,. 3 1949. 17),. 2000 70%.,...,.,,,.,..,. 17),, 3.

54..., 4 9.,. CEO.,.,,.,.. 30%,. < III-6>,..,, 2.

. 55 1%.. (:, %) 489.54 468.24 29.08 468.24 77.13 1597.69 651.65 40.47 651.65 64.97 351.07 152.46 9.47 68.42 11.27 84.04 8.47 652.25 273.22 16.97 48.32 7.96 224.9 22.423 49.09 4.74 0.29 4.74 0.78 45.88 7.19 0.45 7.19 0.72 52.98 15.06 0.94 15.06 1.5 9.45 3.83 0.24 3.12 0.51 0.71 0.07 7.71 2.7 0.17 2.63 0.43 0.07 0.007 8.18 3.41 0.21 3.41 0.56 4.83 0.84 0.05 0.84 0.14 5 2.94 0.18 2.7 0.44 54.66 23.8 1.48 4.67 0.78 19.13 1.84 : (2002),, p. 75.

56,...,,. (: 100, %) () 1 AXA() 449,556 (5) 16,634 52,683 11.72 2 Allianz Group() 401,406 (45) 26,041 46,805 11.66 3 Nippon Life() 374,801 (1) 8,501 51,128 13.64 4 Zenkyoren&Prefectural Ins.Federation() 297,477 (3) 3,990 46,154 15.52 5 Dai-ichi Mutual Life () 261,164 (4) 5,198 35,030 13.41 6 AIG() 233,676 (17) 30,123 24,879 10.65 7 Metropolitan Life Insurance() 215,346 (6) 14,367 11,503 5.34 8 SumitomoLife() 212,200 (2) 4,411 29,320 13.82

. 57 <III-7> () 9 Zurich Financial Service Group() 205,963 (11) 22,994 25,221 12.24 10 PrudentialGroup() 196,536 (10) 5,443 18,782 9.56 5,806 334.90 103.3 1.78 11,675 622.70 54.7 0.47 + 17,481 957.60 158 0.90 : :, 173, 20001. 193 2 (2000 ), 59 2. 25 16% ( III-7 ). 94.7%, 94.2%, 0.47%, 1.78%. 20 4%.,...

58,.,,.,,,. 18) 15%. 2000.. 1996, 2001 1 2.25%.,.,,.,.,. 18), 200013.

. 59 (: %) 51.0 66.1 43.7 44.0 10.5 3.5 19.6 4.7 15.0 1.8 27.4 8.1 27.3 2.0 8.3 9.4 0.1 10.6 1.0 72.9 8.7 6.1 13.7 38.0 6.5 : (2001),WTO.. ( ), ( ),,,,. AIG, Allianz, AXA-UAP, Royal & Sun. 19). 19) (1999),-.

60 그룹 지주회사 손해보험사 생명보험사 투 자사 생명보험 ( 손해보험 ) 사 손해보험 ( 생명보험 ) 자회사 투 자자회사,..,... 3,,, < III-6>.

. 61,,,,,., (retention). 20) 2000 <III-9>. 21) 1,.. 116.8% 100%, 72.2%, 38.7%. 69%.,,,,.. 20),. 21) (2002),, p. 51.

62..,. 1 (: ) % 77.0 1.76 7.9 315.0 368.0 116.8 10.0 8.95 1.9 75.8 54.7 72.2 22.2 18.52 4.1 162.9 63.0 38.7 13.3 0.82 1.4 56.6 4.9 8.6 5.0 0.48 0.6 22.0 2.5 11.3 4.2 0.83 0.5 20.1 2.6 12.8 3.0 0.05 0.3 12.4 2.5 20.3 3.1 0.03 0.3 12.5 0.8 6.2 1.5 2.56 0.4 16.4 3.7 22.6 139.4 34.43 17.4 693.8 478.3 69.0 : 1. =+- 2. = / 3. (capital surplus),,,. : (2002),, p. 5.

. 63 1990. 1999. 50%. 15%,. < III-10>. 5%,. 15%.,...,...

64 :, 2002114.,..,. 1996 10%20013%.,., 3(, ),,,,,,

. 65.,. 300 23%. 16%. 22). 1990. 22) 198030, 2001 600.

66 GATT (cross-border supply), (consumption abroad), (commercial presence), (presence of natural persons).,,.. WTO, 51%. WTO 2. WTO 50%, WTO. 50%, 3 51%, 5 100%.

. WTO 67,,,, (), 2,,, (), (), (),,,, 3. (master policy) 23),. 2. (), 3,. ( ),.., WTO 23).

68 30,, 2,, 50. 20% WTO 1 15%, 2 3 10%, 5%, 4. 3,..,,,, (), 2 10 3. 30 2 5, 1, 2, 44, 3, 2. WTO. 30 50. 2 (2,400 ), 5 (6,000 ).

. WTO 69 20,. (DRC) 6%, 36%. 24) 9%.,..,.. 11 22. 1992 AIA, 1 1., AIA 34. AIA 24) DRC 2001 10 2002 8 50.

70. 1992 18 2000 92, 1 969 7.. 25),,,., 20 200... 102, 20% (retention) 30% 50%.. 25)?,, 20011123.

. WTO 71. 26).. (),.. 30, 120 (1999 ) 14,., 95%..,.,. 26).

72 (). 27)..,,,. 28)... 27). 28).

. WTO 73,,..,,.,..,.,.,....,., 6.,. 29) 29) (2002),WTO.

74., WTO,,. WTO,.,.. WTO,..,,,.

. WTO 75.,,,. (),,.,.,. WTO.,,,.,.,,.

76. 3. 1980. 1980 AIG,,. 1992 22 28,.. 900 Aetna, 8,500.

. WTO 77 1992~98 ' ',. 1992,. 1992 9, AIA. 30) 1993 5 SEDWICK, 1994 7. 1995, AIA AIU. 31) 1996 ( Manulife ). 1996 11 Winterhur. 1997 AXA, Allianz Aetna 3. 1998 Royal & Sun Alliance Colonial. Manulife,. 30) AIA(American Insurance Association: ) AIG(American International Group). 31) AIU(American International Underwriters) AIA AIG ( ).

78 1999 4. 1999 4 200, 57 15 Chubb. Prudential (, 2,400, 50% ), John Hancock (1997 1,267, ), Sunlife ( 50, 571 ) 3. 1999 10 6 10.,,,,,,, WTO. 1992 AIA 2001,,,,, 10 27, 16 100,, 200.,,,.,

. WTO 79, 10. 2%(2000 ) 1.6%,. (: ) 1,994.61 516.86 2,511.47 100,301.50 60,774.78 161,076.27 1.99% 0.85% 1.56% :(2001), ( AXA), -Aetna, Allianz-, ( Manulife), -Colonial, John Hancock-, ( Prudential ), ( Generali ), -Sunlife(). CNP, CGU, ING, AEGON, Metropolitan, New York Life. 500.,,.,,,

80,,.,. < V-1> 2000 20 1,423. 1,000. 1. (: ) 1996 1997 1998 1999 2000 :(1997~2001),., 10% (2000 ).

. WTO 81 ' ' 15%.,. (: ) /(%) /(%) AIU() 130.9 216.7 19.0 0.14 0.09 AIU() 33.8 113.7 0.5 0.02 0.005 AIU() 7.1 10,747.0-93.0-13.0-0.01 76.0 217.0 14.0 0.18 0.06 () 5.1 19.9-2.1-0.42-0.11 () 146.2 212.3 25.6 0.18 0.12 Winterthur 91.1 191.1 0.8 0.01 0.004 Royal & Sun 26.8 111.9-5.4-0.20-0.048 :(2001). 1995AIA 77 70, 1996 13%. 1999.

82 1992 9 11 30 50, 2,000.,,,,,,. 30%. 32),,., 33). ().,. 32) 20%. 33)64

. WTO 83. 1999. 10%, 25%, 25%. 2001 11, WTO 2002 2 1,,,. 2 (). 2(). 30,

84 2, 50,,,,,.,,,,,,,... 15 () ().,., 6 ().

. WTO 85 1, 3..,,,,,,, 3,,,,,,,. 60,. WTO,,., 34),,..

86..,, M&A,,., 15~18%. 35).,. 1805~1945., 100%.., ( ). 35) (1998),, p. 23.

. WTO 87. OECD(2000) 31,, 8, 60% 5%.,,,, 5 30%, 30% 10 (V-2 ). : OECD(2001), Insurance Statistics Yearbook.,. OECD 0 84.7%. 30% 5%.., (V-3, V-4 ).

88 : OECD(2001), Insurance Statistics Yearbook. : OECD(2001), Insurance Statistics Yearbook. WTO.,.. 2002 6. 36)

. WTO 89. 3 2 15% 2, 3 50%. 3 10%, 5, 5 50%. 30%,.,, AA+,.,,,. 50 1 1,000. 3,374 36) KIEP (2002),,, (02-52).

90..,.. 2000AIA 515, -Aetna '(, )' AIA 15 ' '..,.. 37), GM. 37) Lemon( ) Plum( ).

. WTO 91. 2000,,. 48% 18%.,.. WTO 3~5,.,. 38).. 38),.

92. AIA 1995, 1996.. AIA AIA. 1996 AIA, AIG AIA AIA. AIA.. 1980,,,,.,.....

. WTO 93 WTO.,..., 50%..,. 2~8, 3~5.

94. 2001..,. AIG, Winterthur(),. 2000., -Aetna, Allianz-, 4. 2001.,,. 39)..

. 95..,.. WTO..,....,.

96. ( VI-1 ). OECD 31 66%,. : OECD(2001), Insurance Statistics Yearbook...,..

. 97.,,.,.,,.,.......,. 2001

98 3 CEO...,. WTO,.,. 1,000.,.., DKV. M&A.

. 99 M&A. 1990....,...,..

100,,.....,,..,..,.. CEO.

. 101..,,,,.,.... A/S.. A/S,,,.,, A/S.

102. Allianz-, AIA,.,,. Lincoln,,. CGU 1994 (2001)..,.. 3~5,

. 103. AIG 2000 12, AIG,,,.., ( ).. 60% 39% 74% 40% 13% 54% 19% 3.3% : 21, 20021111..,. AIA,,, 16,.

104 2002 220% 17. 20%. (3.3%, VI-1 ),.. ( ),,,..... AIA, Lincoln,...,.

. 105. 1992,, 1994 1995., 2000..,,.,.

106. 2002.. KIEP (2002-10).. 1999.-... 1998.... 2001.,.. 1994...,. 2002.... 2002, 2003.... 2002.WTO., 2.. 2001.., 4.. 2002.... 1999.... 1999.., 9.. 2000.:,... 1998.... 2001.WTO..?., 20011123.. 2002....,..,.. 2002... OECD. 2001. Insurance Statistics Yearbook. Sigma-Aldrich Corp. 2000. Sigma, No. 4.

Euihyun Choi, Zhao XiJun, and Jinhoon Woo In this research paper, we explain the background and recent history of the Chinese insurance industry, the competitiveness of the insurance industry and the implications for Korean companies interested in this sector. The insurance market in China has grown rapidly over the past 20 years. There are now four state-owned insurance and reinsurance companies in China. The four companies, owned by the State council, are Peoples Insurance Co, China Life, China Insurance and China Reinsurance. This some state-owned companies heavily controlled insurance market. In life and property insurance market, top four companies account for 90 percent of market share. Despite of the rapid growth during reform period, the insurance industry remains in its infancy stages. In 2000, the insurance density was US$13.3 per capita compared to $4,643 in Switzerland and $3,909 in Japan. Insurance penetration is only 1.79 percent, well below most developed nations, which, for the most densely populated country in the world, suggest strong growth potential. As the most populous nation in the world, the insurance industry in China

has substantial room to expand. First, the industry ranked 16th globally in 2000 in terms of gross insurance premiums, with a global market share of about 0.79 percent (as compared with 35.4 for the United States, 20.6 for Japan and 9.7 for the UK). Second, it ranked 73rd in terms of insurance density, with $13.3 per capita in 2000. Third, it ranked 61st in terms of insurance penetration with 1.79 percent. Foreign participation in the mainland market was first permitted in 1992 in Shanghai, and now there are 27 foreign insurance branches in China. These companies have not seen reveal substantial management outcomes until now. However, its entry into the WTO will lead to the removal of many entry barriers within two or three years, helping foreign companies enjoy an improved investment environment. In addition,wto membership is set to help China improve its regulatory framework. China will tend to incorporate international best practice, including more developed prudential regulations and improved disclosure. However, developing the insurance market will not lead directly to increased insurance premiums on the part of foreign companies. Foreign companies, including those from Korea, need to gain credibility for Chinese customers. Only localized companies will be able to gain competitiveness in the Chinese insurance market.

지역리포트 00-01 01-01 : 01-02 01-03 (EMU) 01-04 01-05 (EEC)CIS 02-01 02-02 02-03 EMU 02-04 02-05 02-06 UAE 02-07 02-08 ASEAN 03-01 : 03-02 지역연구회시리즈 00-01 : 2000 00-02 00-03 AFTA-CER 00-04 IT 00-05 00-06 00-07 EU 00-08 00-09 1990KIEP Homepage (http://www.kiep.go.kr)

00-10 : 00-11 WTO 00-12 10 00-13 00-14 WTO 00-15 00-16 (MERCOSUR) 00-17 01-01 01-02 01-03 1990 01-04 10 01-05. 01-06 10 01-07 1980 90 02-01 02-02 1990 02-03 02-04 Municipal Finance in Selected European Transition Economies: Institutional Framework and Regional Development Chang Woon Nam 03-01 정책연구 97-01 2 97-02 97-03 97-04 97-05 OECD 97-06 97-07 97-08 97-09 97-10 97-11 97-12 97-13 WTO 97-14

98-01 IMF(1997.12 1998.6) 98-02 98-03 M&A 98-04 EU APEC 98-05 1997APEC (IAPs) 98-06 1999 98-07 98-08 98-09 : : 98-10 : : 98-11 : 98-12 98-13, 98-14 Technology Cooperation in the APEC: Case of the AP Byung-il Choi Eun Mee Kim 98-15 IMF 98-16 FTA 98-17 98-18 98-19 CIS 98-20 98-21 99-01 1999 2000: 99-02 21 99-03 IMD 99-04 99-05 2000 99-06 APEC 1998(IAPs) 99-07 : 99-08 :, 99-09 WTO 99-10 99-11 IMF (1998.7 1999.12):

99-12 : 99-13 : 00-01 WTO 00-02 : 00-03 00-04 WTO 00-05 WTO 00-06 WTO 00-07, 00-08 WTO 00-09 00-10 00-11 WTO 00-12 00-13 WTO 00-14 00-15 3ASEM 00-16 01-01 01-02 WTO 01-03 01-04 FTA 01-05 APEC 01-06 : 01-07 : WTO 01-08 01-09 EU : CGE 01-10 WTO 01-11 WTO :

01-12 : WTO 01-13 WTO 01-14 WTO 02-01 DDA -2002 02-02 : DDA 02-03 DDA : 02-04 DDA 02-05 DDA 02-06 DDA TRIPS 02-07 DDA 02-08 DDA 02-09 02-10 02-11 EMS 02-12 FDI 02-13 FTA 02-14 02-15 ASEAN 02-16 02-17 1990 02-18 02-19 02-20 02-21 IT : 02-22 02-23 02-24 02-25 3 02-26

조사분석 97-01 97-02 97-03 ODA 97-04 97-05 97-06 97-07 CIS 97-08 : 97-09 97-10 WTO : 97-11 WTO : 97-12 97-13 97-14 97-15 97-16 98-01 80 98-02 98-03 98-04 98-05 APEC 98-06 APECWTO 98-07 APEC APEC 98-08 APEC 98-09 APEC 98-10 APEC 98-11 EU 98-12 98-13 WTO : 98-14 WTO : 98-15 OECD 99-01 OECD OECD

99-02 M&A 00-01 00-02 00-03 NAFTA 00-05 01-01 01-02 01-03 WTO 01-04 WTO : 01-05 01-06 - 3 01-07 01-08 01-09 01-10 01-11 WTO TRIPS : 01-12 01-13 02-01 02-02 02-03 WTO 2 02-04 :

KIEP (1995. 5 2003. 2) (, E-mail:yxcui@chungwoon.ac.kr) Reform of the Financial Institutions in China: Issues and Polices (2002) (2002) : (2001) (, E-mail:xijun@public.beta.net.cn) (2003) WTO(2002) (2002) (, woojinhoon@hanmail.net) (, 2002) (1999)

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