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Creditor Insurance in China

  • March 2015
  • -
  • Finaccord
  • -
  • 24 pages

Finaccord’s report titled Creditor Insurance in China offers uniquely detailed insights into the market for creditor insurance, sometimes also referred to as payment protection insurance or loan-related insurance, as acquired by individual borrowers in China. Drawing on the results of a survey of 108 lending institutions, the study analyses the distribution of creditor insurance by banks and other lending institutions, how provision rates vary for different lending products, operating models used for arranging creditor insurance, and distribution partnerships weighted by the size of distributors. The PartnerBASE™ dataset that accompanies the report details all creditor insurance distribution deals traced by Finaccord. In short, this study will provide you with the definitive guide to current and future opportunities in creditor insurance in China.

Table Of Contents

Creditor Insurance in China
0.0 EXECUTIVE SUMMARY 1
1.0 INTRODUCTION 3
What is this report about? 3
This report provides a comprehensive analysis of loan-related insurance policies in China 3
Rationale 3
The report tracks the provision of creditor insurance across 108 lending institutions 3
Methodology 3
Survey of banks and other lending institutions 3
Market data 4
Definitions 5
Creditor insurance 5
Mortgages, consumer finance and credit cards 5
Weighted provider share of partnerships 5
Operating models 6
Abbreviations and exchange rates 7
PartnerBASE and market data annexe 7
Finaccord 7
2.0 MARKET ANALYSIS 7
Banks and other lending institutions covered 9
Introduction to the banking sector 9
By total number of retail customers, Postal Savings Bank of China is a market leader… 9
… followed by the big four state-owned commercial banks 10
In terms of its total assets, ICBC was likely to be the largest bank in the world at the end of 2014 10
Various other types of institution also compete in China's banking market… 10
… including banks that are owned in part by private investors… 10
… and more than 140 city commercial banks, some of which have already carried out IPOs 11
The number of rural commercial banks has expanded rapidly in recent years… 11
… and they are particularly adept at reaching customers who have not previously banked 12
In the context of the market as a whole, foreign banks in China occupy a rather marginal position 12
Consumer lending market size and growth 13
Mortgage lending 13
Mortgage balances outstanding are on track to exceed USD 2 billion in 2015 13
Non-mortgage lending 14
Total non-mortgage consumer lending balances more than tripled in value between 2010 and 2014… 14
Credit and other pay later cards 15
… and credit cards in circulation grew strongly in each year over the same period of time 15
Creditor insurance provision rates, operating models and partnerships 16
Creditor insurance linked to mortgages 16
Bona fide creditor insurance is on offer from relatively few mortgage lenders in China 16
By weighted share of partnerships, BOC Insurance and CCB Life are tied in second position 16
Creditor insurance linked to consumer finance 18
Policies linked to consumer finance have been introduced by several banks in recent years… 18
… with Ping An visible as the most prominent provider in this sphere 18
Creditor insurance linked to credit cards 18
Schemes for credit card payment protection insurance have yet to be developed 18
Creditor insurance risk coverage 20
Creditor insurance products in China are limited to cover for death and permanent disability 20
Alternative distribution channels 21
Creditor insurance market size, growth and forecast 21
The creditor insurance market is likely to have expanded quite rapidly in recent years… 21
. and the outlook to 2017 is also positive 22
. 24

LIST OF GRAPHICS / TABLES

0.0 EXECUTIVE SUMMARY 1
1.0 INTRODUCTION 3
Banks and other lending institutions in China contacted by Finaccord, segmented by type 4
2.0 MARKET ANALYSIS 9
Residential mortgage lending balances outstanding in China (absolute and per capita), 2010 to 2014 13
Consumer non-mortgage lending balances outstanding in China (absolute and per capita), 2010 to 2014 14
Credit and other pay later cards issued and per capita in China, 2010 to 2014 15
Key data points for the consumer lending market in China, 2010 to 2014 16
Provision of creditor insurance linked to mortgages in China, 2015: provision rate, operating models and weighted provider share of partnerships 17
Provision of creditor insurance linked to consumer finance in China, 2015: provision rate, operating models and weighted provider share of partnerships 19
Risk coverage of creditor insurance policies in China, segmented by type of underlying product, 2015 20
Creditor insurance gross written premiums in China, segmented by policy type, 2010, 2014 and 2018 22
Creditor insurance gross written premiums in China, segmented by cover type, 2010, 2014 and 2018 23
Creditor insurance gross written premiums in China, segmented by policy and cover type, 2010, 2014 and 2018 24

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