Reinsurance - M97（Dip级30学分，选修）-《再保险》
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（前述章节【Dip系列课程】M97-第九章-再保险市场B5-B6A）
B6B China（中国）
China is the world’s second largest economy and, according to Swiss Re’s Sigma, its insurance market ranks as the third largest in the world. In 2021, total insurance premium reached RMB4.5tn.
中国是世界第二大经济体，根据瑞士再保险的 Sigma，其保险市场位居世界第三。2021 年，总保费达到 4.5 万亿元人民币。
本sir注：这里数据有误，中国2017年就超越了日本成为世界第二大保险市场。
For many years, the People’s Insurance Company of China (PICC) enjoyed a monopoly in the insurance market. Today, the non-life insurance market is dominated by three insurers: PICC P&C, China Pacific Property Insurance Company (CPIC) and Ping An P&C.
多年来，中国人民保险公司 (PICC) 垄断了保险市场。如今，非寿险市场由三家保险公司主导：中国人保财险、中国太平洋财产保险公司 (CPIC) 和平安财险。
Many foreign insurers now operate in China, but their market share remains low for various reasons. This is, however, expected to continue to grow sharply as more and more carriers are permitted by the China Insurance Regulatory Commission (CIRC) to write compulsory motor third-party liability insurance. Motor insurance comprises the largest share of China’s non-life business and the next largest sectors are commercial property then agriculture and liability.
目前，许多外国保险公司在中国开展业务，但由于各种原因，它们的市场份额仍然很低。然而，随着越来越多的保险公司获得中国保险监督管理委员会 (CIRC) 的许可，预计这一比例将继续大幅增长。汽车保险占中国非寿险业务的最大份额，其次是商业财产险、农业险和责任险。
本sir注：目前保监会已被金融监管局取代。
As regards reinsurance, China Reinsurance is the nation’s largest reinsurer. Foreign reinsurers with branch operations include the major European carriers and Lloyd’s, but there is increasing interest from global reinsurers in Bermuda and London in view of the country’s potential for growth. In the meantime, it remains a fiercely competitive and highly regulated market.
在再保险方面，中国再保险是中国最大的再保险公司。拥有分支机构的外国再保险公司包括欧洲主要保险公司和劳合社，但鉴于中国的增长潜力，百慕大和伦敦的全球再保险公司对中国的兴趣日益浓厚。与此同时，中国仍然是一个竞争激烈、监管严格的市场。
The CIRC is committed to regulatory reform. For example, enhancements are planned to the supervision of reinsurance business, which reaffirms its position that underwriting profits should not be transferred abroad by way of affiliated reinsurance transactions. Interestingly, it also recently approved China National Petroleum Company (CNPC) to establish the first onshore captive insurer in China. As China seeks to internationalise the RMB, China Re has expanded internationally and has overseas subsidiaries and representative offices in London, New York, Singapore and Hong Kong.
中国保监会致力于监管改革。例如，计划加强对再保险业务的监管，这重申了其立场，即承保利润不应通过关联再保险交易转移到国外。有趣的是，中国保监会最近还批准中国石油天然气集团公司（CNPC）在中国成立第一家境内自保保险公司。随着中国寻求人民币国际化，中国再保险已在国际上扩张，并在伦敦、纽约、新加坡和香港设有海外子公司和代表处。
B6C India（印度）
As the second most populous nation and one with comparatively good economic prospects and low insurance penetration, India also presents huge potential opportunities to global reinsurers. Since liberalisation under the Insurance Regulatory and Development Authority Act 1999, public sector exclusivity has been abandoned in favour of marketdriven competition and yet the market is dominated by the public sector undertakings: New India, Oriental, National and United India. Strong distribution networks and large historic reserves have ensured that these companies underwrite the majority of the non-life business. At present, the vast majority of all non-life premiums are still distributed through legions of on-the-ground direct sales agents who are largely employed by those companies.
作为第二大人口大国，印度经济前景良好，保险渗透率较低，因此也为全球再保险公司提供了巨大的潜在机会。自 1999 年《保险监管与发展局法》实施自由化以来，公共部门的专营权已被放弃，取而代之的是市场驱动的竞争，但市场仍由公共部门企业主导：新印度、东方、国家和联合印度。强大的分销网络和大量的历史储备确保了这些公司承保了大部分非寿险业务。目前，绝大多数非寿险保费仍通过大量实地直销代理进行分销，这些代理大多受雇于这些公司。
As the sole domestic reinsurer, government-owned General Insurance Corporation (GIC), provides reinsurance to the general insurance companies in the Indian market. It receives an obligatory statutory cession of 5% on each and every policy subject to certain limits.
作为唯一的国内再保险公司，国有普通保险公司 (GIC) 为印度市场的普通保险公司提供再保险。它在每份保单上获得 5% 的强制性法定分保费，但有一定限制。
In 2016, the insurance market was opened to foreign reinsurance companies and currently there are ten oversees reinsurers operating in the territory, However, the market remains dominated by the GIC Re who enjoy the right of first refusal on all reinsurance treaties. In 2019, offshore reinsurers had a 19% market share.
2016 年，保险市场向外国再保险公司开放，目前有十家海外再保险公司在该地区运营，但市场仍然由 GIC Re 主导，该公司享有所有再保险条约的优先购买权。2019 年，离岸再保险公司的市场份额为 19%。
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