Study Of The Law Supervising The Foreign Insurance Under The Frame Of WTO

The insurance in our country has developed very quickly since the reform and opening policy was implemented. The insurance premium has increased 34% annually, and the total compensation of the insurance company has reached 7020.400 million yuan since the renewal of the service of insurance in our country. In 2004, the earning of insurance was 4318.100 million yuan, rising 11.3% comparing to corresponding figure. The insurance depth came to 3.4%, and the insurance density was 332 yuan . Since the end of 2003, three China's insurance tycoon, the Chinese people Insurance Company, China Life Insurance Company Limited and China Ping An Insurance (Group) Co., Ltd whose shares came into the overseas market, are praised by overseas investors. Among them, China Life Insurance Company Limited also set up the global IPO record in 2003. By the end of 2004, total assets of the insurance companies reached 11853.600 million yuan, increasing 2730.700 milliion yuan. The total assets of the insurance broke through 1,000,000 million yuan, which marked the new stage of insurance in our country.With the role of the insurance becoming more and more important in the development of national economy and society. at present, China's insurance industry is in the rising phase of development which is facing an extremely rare development opportunities, but also new challenges. Especially China's government has expanded the scope of the insurance market in order to fulfill the commitments of entering WTO. The expansion of the scope of operation and operating region of foreign insurance companies has led to the formation of a new insurance market competition. This will increase pressure on the survival of the domestic insurance industry, and will also influence the entire financial market order and financial security greatly with the diversification of the insurance...