China to become world’s second largest life insurance market by 2020: report

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China to become world’s second largest life insurance market by 2020: report
News from Insurance Business Review:

IBR Staff Writer Published 13 December 2011

The life insurance market in China is expected to become the second largest market in the world after the US, by 2020, according to a report from UK based research firm BRICdata.

The report lists the ageing population; robust economic growth; the rising disposable incomes of China’s middle class; and the increasing awareness of the need for insurance, especially among the young people, as the contributors to the significant growth of China’s life insurance market during 2006-2010 period.

However, China remains an untapped market with only 50% of the population having some form of life insurance in 2010, despite the country’s insurance industry growth.

The report suggests that life insurance market in China will provide major opportunities during the 2011-2015 period, a…………… continues on Insurance Business Review

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ING Life retirement planning – A flawed response to Moneylife article on a …
News from Moneylife Personal Finance site and magazine:

ING Life retirement planning advertisement in ET Wealth made misleading assumptions. ING responded to our article. Here are ING’s faulty responses defending the flawed retirement path it advertised. Is IRDA listening?

Upton Sinclair has written: “It is difficult to get a man to understand something when his salary depends on his not understanding it.” This applies wonderfully to all financial services companies and their intermediaries.

The latest example is the response of ING Life to our article on Monday based on a full-page advertisement in ET Wealth offering “advice” on retirement planning, their traditional product—New Best Years—and throwing at you some numbers to help you retire “on your terms”. Our article pointed out the unrealistic assumptions made by ING, leading to questionable solutions. Please read http://w…………… continues on Moneylife Personal Finance site and magazine

… Read the full article

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Related posts:

  1. Guo Says China Life Insurance Market Has Room to Grow – Washington Post
  2. China Life Falls as NY Index Extends Decline: China Overnight
  3. Nippon Life Insurance: Asked Olympus For Explanation To Ease Market Concerns
  4. Report: Life Insurance Policy Taken Out On Gardner
  5. Cornerstones pledge $780 mln for New China Life IPO -IFR
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