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The China Insurance Regulatory Commission (CIRC), was established on November 18, 1998.
It is authorized by the State Council to conduct administration, supervision and regulation of the Chinese insurance market.
The website is also in English language. After China’s accession to WTO, foreign insurance companies flooded into China’s insurance market. 54 business operation establishments by 34 foreign insurance companies, and more than 200 representatives’ offices were set up. As at 30 April 2006, in Hong Kong (China) there were 479 authorized insurance brokers and 4,947 registered chief executives/technical representatives. For insurance agents, there were 28,650 appointed insurance agents (i.e. 1,690 insurance agencies and 26,915 individual agents. Three major insurers take 78.7 percent of China's life insurance premiums:
- China Life Insurance Co., Ltd
- Ping An Life Insurance Co., Ltd
- China Pacific Life Insurance Co., Ltd
Forty foreign-funded insurance companies had set up 99 branches in China by the end of 2005.
Chinese insurance companies
China Life is the leading life insurance company in China with a market share of more than 50%.
Other large insurance companies: China Safety Insurance, China Pacific Insurance, Xinhua Insurance and Huatai Insurance
Chinalife Building
23 Floor
16,Chaowai street Chaoyang District
China
Tel: 85659999
Fax: 85252232
URL: http://www.chinalife.com.cn
No.826, Sungang Warehouse, Meiyuan R
China
Tel: 75582408889
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