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Summit Highlights
  1. Identifying Upgrading Industry Criteria with the Effect of New Chinese Insurance Law
  2. Interpretation of Chinese Medical Reform and New Opportunities for Commercial Insurance Products
  3. Understanding the Current Situation and Future Trend of International and Chinese Insurance Industry
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Summit Background

Although global insurance industry is suffering from the financial crisis, it is beginning to recover with AIG, the world biggest insurance company, turning loss into profit. Chinese insurance market keeps growing. According to the statistics by CIRC, the first half year's premium income of Chinese insurance industry was RMB 678.638 billion and achieved 6.63% growth compared with the income of the same period in 2009.

Regarding policies and regulations, new "Chinese insurance law" will be in effect on October 1st, and "the Code of Insurance Practitioner's Conduct" has been released to better standardize the competition and operation of insurance industry. The ongoing Chinese healthcare reform also brings new opportunities to commercial insurance products especially health insurance products.

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2009 Event Review

On April 1st and 2nd, China International Insurance Congress was successfully held by Duxes Business Consulting at Kuntai Royal Hotel in Beijing, China. With strong support from officials of Chinese government, international associations and MNCs worldwide, the event attracted 78 delegates from 56 businesses.

Distinguished guest speakers from Chinese government like National People's Congress (NPC), China Insurance RegulatoryCommission (CIRC), and State Administration of Taxation and explained the latest policies and regulations in China's insurance industry. Top executives from leading companies of the insurance industry, including New York Life International, Allianz China, Generali Life, Munich Reinsurance, and Crawford, presented on topics pertinent to product customization in China insurance market, insurance appraisal, and reinsurance. Professionals from Deloitte, Watson Wyatt, Marsh, Celent shared their valuable opinions and experiences in risk management of insurance business.

As the first of its kind in China, the event provided a powerful forum for the sharing of information with numerous networking opportunities. Most of the attendees have thought this event a valuable one and have expressed their interest in attending the 2nd China International Insurace Congress in the future.

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