| Today, the life insurance industry of China has become an important actor of the economy development. This industry provides lots of fund in the process of modernization of China. In the near future, the life insurance industry will be a major character in China society. It will help to raise fund for building infrastructure and it will help to solve some social problem such as providing retirement pension.The development of economy in China will give the life insurance a good opportunity to mount up. But there are still some uncertainties and challenges existing for this industry. First of all, the industry has opened its door to foreign capitals after 11 December of 2004 according to the WTO negotiation agreement. Local life insurers will involve in vehement competitions with foreign capital that enter this market as foreign companies or joint ventures. Second, the relevant financial environment is changing these years and will affect the operation of the life insurance greatly. The reform in the exchange rate and interest rate system will make difficulties for the local insurers who lack of relevant experience and techniques to adapt the new situations. Finally, the industry de-regularization will also challenge the local insurers'manage techniques and innovative capability.The changing competition environment urges native life insurers and academia to pay more attention to life insurance industry's efficiency problems. In fact, perhaps because of different development degree of money market, Researches on commercial banks'efficiency problems have been valued since many years ago but discussions related life industry's efficiency didn't become outstanding in our country. So this paper is trying to seize the information of the native life insurers'efficiency and the information may give the insurers some help... |
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