The growth and development of Chinese insurance sector was steady during the past decades. China Insurance Regulator Commission (CIRC) estimates that total domestic insurance premiums would exceed RMB one trillion by 2010, which is six times higher than the total insurance premiums in 2000. Several major local insurance companies successfully launched initial public offerings at domestic or overseas markets. Over 40 foreign invested insurance ventures are now operating and competing in mainland market. Although domestic insurance industry is still small if measured by standards such as insurance density or insurance penetration rate, it also suggests that the Chinese insurance market have huge potential for growth.
Deloitte is confident on the growth of China's insurance industry. As leaders in providing professional services to the insurance industry, Deloitte works with clients to address a range of critical issues brought on by globalization, advances in technology, regulatory changes, competition and the changing demands of their customers. We combine in-depth industry knowledge with technical expertise to provide services that respond to our clients’ needs. Globally, we are the second largest actuarial firm in the world, serving 18 of the top 20 Global Insurance Firms. In China, we provide services to many of the industry's largest and best known players.
The combination of our actuarial and consulting professionals with years of practical knowledge from local, regional and international markets allows us to add depth and value when advising our clients. We are uniquely placed in the consulting market as we are able to provide the full range of services needed by any organization, be it in risk management, tax, audit, management consulting, or actuarial and insurance consulting.
In Asia, Deloitte actuarial & insurance solutions' insurance team comprises over 20 dedicated non-life and life insurance specialists making it one of the largest team of its kind in the region. We have offices throughout the region, in Hong Kong SAR, Beijing, Taipei, Seoul, and Tokyo. Our main areas of expertise include:
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