Analysis of Shanxi Property Insurance Market

Since China's reform and opening up, especially after 1986, with the continuous increase of insurance market supply and the initial formation of an orderly competitive insurance system, insurance business has developed rapidly. 1980, the premium income of China property insurance industry was only 4.61100 million yuan and 20122.6 billion yuan, with a compound annual growth rate of 25%. The premium income of property insurance industry is obviously faster than the growth rate of macro-economy.

Motor vehicle insurance is the largest type of property insurance in China. According to the data of "Analysis Report on Market Foresight and Investment Strategy Planning of China Property Insurance Industry in 20 14-20 18" issued by Forward-looking Industry Research Institute, the motor vehicle insurance premium income exceeded the enterprise property insurance premium income for the first time in 1987, and then gradually increased, accounting for 55.33% of the property insurance premium income in 1997. In recent years, the number of cars in China is still growing rapidly, which has promoted the expansion of the motor vehicle insurance market and will further stimulate the property insurance market.

Further reading: How to buy insurance, which is good, and teach you how to avoid these "pits" of insurance.