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China 's life insurance market structure , efficiency and market performance relationship

Author: WangXueMei
Tutor: GuYing
School: Northwestern University
Course: Industrial Economics
Keywords: Market Structure Market efficiency Market Performance Efficient structure hypothesis SCP hypothesis
CLC: F842.6
Type: Master's thesis
Year: 2011
Downloads: 141
Quote: 0
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Abstract


Industrial organization theory has been as a key market performance will be, but usually is to study the impact of market performance factors, such as the relationship between the structure and the efficiency of markets and market performance, leading to the development of an appropriate industrial policy to improve market performance. The relationship between the two mainstream school, efficient structure hypothesis, and the other is the SCP structure hypothesis, a lot of theoretical and empirical research and scholars for these two hypotheses, but its application in literature works in the insurance industry is not a lot, most of the empirical study of market structure and efficiency of the insurance industry as a whole as well as market performance relationship. Therefore, under the new situation in the full liberalization of the insurance industry in China, the main players in the market continue to increase, the coexistence of different forms of ownership, as well as separate production Shou industry operating, through in-depth study of the life insurance market structure, efficiency and market performance, compare the different nature of the life insurance the performance and efficiency of the company, and the analysis of different reasons, and then put forward policy recommendations to improve market performance of China's life insurance industry is very meaningful. The conclusions of this paper are as follows: China's insurance market is still oligopolistic market, policy and out of a high degree of market concentration and oligopolistic market structure of the main reasons for China's life insurance industry barriers; followed by collection of 20 life insurance on the life insurance market in 2003-2009 sample data, using the DEA analysis method to compare the different nature of the life insurance company's efficiency differences owned life insurance company of the larger, the higher the overall efficiency. Owned life insurance company in the overall efficiency is higher than the efficiency of the joint venture and foreign life insurance companies, but the overall efficiency of the Chinese life insurance market is relatively low. Analysis of the performance of the different nature of the life insurance companies from the life insurance company's profitability and solvency perspective. Profitability owned life insurance company in profitability is higher than the joint venture life insurance company, less than the foreign life insurance companies. Solvency, from the two indicators investigated. First, the loss ratio indicators, China Life Insurance Company's overall loss ratio is very low, but owned life insurance company in the overall Payout high in the joint venture and foreign life insurance company. Second is to reserve indicator, low reserve of China's life insurance industry as a whole, the reserve larger life insurance companies is higher than the smaller life insurance companies, the average reserve owned life insurance company in higher than the joint venture and foreign life insurance companies Overall overall performance is relatively low, the return on assets is negative but the upswing, the level of performance in a slow improvement. Finally, the panel data econometric software empirical research on the relationship between China's insurance industry market structure, efficiency and performance, drawn in the relationship between the three of China's insurance market is not only inconsistent with the theory of \, does not conform to the theory of the efficient structure hypothesis. Finally, two aspects of the policy proposals put forward to improve the market structure of China's insurance industry, improve market performance from the government's point of view and the insurance industry itself.

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CLC: > Economic > Fiscal, monetary > Insurance > China's insurance industry > Various types of insurance
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