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China Briefings

Reports on China issued by Samsung Economic Research Institute

China’s Auto Insurance Industry: Mounting Deficits and Countermeasures

China’s Auto Insurance Industry: Mounting Deficits and Countermeasures

Samsung Economic Research Institute Beijing Office

Apr. 27, 2010

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1. Introduction

□ The auto insurance market1 has grown rapidly along with China's emergence as a major market for global automakers.

• Car insurance, which started in Europe in late 1800s, began in China with modest growth.

- China' s auto insurance market was weak in its early stage due to for eign insurers' dominance and a lack of management skills.

Note

1. Auto insurance covers automobiles, streetcars, electric cars, motorcycles, tractors and various special vehicles.
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