A rising standard of living and
strong backing from the government are set to drive rapid growth in
China’s private health insurance market, predicts German health
insurer Deutsche Krankenversicherung (DKV).

The prediction comes as DKV, a unit of German reinsurer Munich
Re’s subsidiary, ERGO Insurance Group, marks its 10th year of
involvement in China’s private health insurance market.

Go deeper with GlobalData

Data Insights

The gold standard of business intelligence.

Find out more

According to DKV China’s private health insurance market has the
potential to generate total premium income of CNY60 billion ($8.6
billion) by 2010 and CNY120 billion by 2015.

If the predictions prove accurate premium income in 1015 would be
about three times the total generated in 2007.

“The prospects for the health insurance sector look excellent,”
said DKV chairman Günter Dibbern. “The industry will grow and
mature as the economy continues to expand and reforms in China’s
healthcare system take effect.”

In 1998 DKV became the first foreign health insurer to establish a
presence in China, though initially this was limited to assisting
China’s second largest life insurer, Ping An to develop appropriate
health insurance products.

How well do you really know your competitors?

Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.

Company Profile – free sample

Thank you!

Your download email will arrive shortly

Not ready to buy yet? Download a free sample

We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form

By GlobalData
Visit our Privacy Policy for more information about our services, how we may use, process and share your personal data, including information of your rights in respect of your personal data and how you can unsubscribe from future marketing communications. Our services are intended for corporate subscribers and you warrant that the email address submitted is your corporate email address.

In 2004 DKV consolidated its presence when it linked up with
China’s largest general insurer, state-owned PICC Property and
Casualty, to establish the country’s first dedicated health
insurer, PICC Health Insurance Company (PICCHI). DKV’s stake in
PICCHI is 19 percent.

In 2007 PICCHI generated total premium income of CNY2.6 billion
($372m) and ended the year with almost 8 million policyholders.
Aggressive expansion that includes increasing the number of sales
branches from 18 to 30 is aimed at achieving premium of CNY4
billion in 2008.