Why China's insurance industry is suffering
Fierce competition, poor sales tactics and low returns are keeping profits in the industry back.
WhatÆs happening to the China insurance market Compared to the frenzy surrounding the restructuring and listing of ChinaÆs state banks, the lack of enthusiasm in the insurance sector is striking.
ôForeign companies came to China hoping for an explosion in insurance, since insurance is often linked with GDP growth. But they were often unprepared for the practical challenge,ö says one local manager at a joint venture.
The initial rush was not surprising given the hype surrounding the sector. In 2002,...
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