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orporate bonds of RMB 10.76 billion. There are 1.815 million staffs engaged in insurance, accounting for over 40% of the total number of staffs in financial enterprises in China. At present, only 4% of the 1.3 billion people have personal insurance. As more and more people will own their private cars and house property, the premium is destined to rise, so it will become more attractive.

Along with the rapid growth of economy, the insurance policies change fast, especially the market access which has improved greatly. In 1992 China began to allow limited access to foreign American International Group (AIG) is the first foreign insurer to conduct insurance business in China. Following it Tokyo Marine and Fire Insurance and Winterthur Swiss Insurance entered in 1994 and 1996, respectively. In 2004, a number of insurance companies got the authorization for establishment, including the first agricultural insurance company, the first construction insurance company and the first pension insurance company. By the end of 2005, there are 93 insurance corporations altogether in China, among which six were insurance groups and 82 were insurance companies (including 40 foreign insurance companies and 5 insurance asset management companies).

Nevertheless, Chinese insurance industry is still at the initial stage. The unbalanced development of economy caused the difference in the development of insurance industry in different areas. For instance, in Guangdong and Shanghai, the insurance market is abundant in both demand and supply, which is far more prosperous than that of Central and Western China. There is limited opening of the insurance market to selected foreign insurance companies. Besides, to protect domestic insurers, geographic limitations were placed on foreign insurers as well as restrictions on their scope of business. Management license is needed, whereas, the speed to release the license is very slow. The leading insurance companies are still the Chinese domestic insurance organization. The People's Insurance Company of China controls 68% non-life insurance, and for the life insurance market three Chinese insurance occupy 87% of the market shares (Ding, 2006).

4.2 Analysis of Indian insurance market

a. The culture of India
India has the second largest population of 1billion people, among which 0.82 billion are Hindu, 0.11billion are Muslim, 2.7 million Nazarene, and also some Buddhist. Different religious has different habit. For example, Hindu worship cattle and protest against butchering cattle. In recent years, there are conflicts between Indian culture and western culture, seriously. On February 14th, 2001, Indian religious group organized a pageant to oppose the Saint Valentine's Day.  

In India, there's no 'Indian' language. Eighteen languages are officially recognized by the constitution, but over 1600 minor languages and dialects were listed in the 1991 census. Hindi is the predominant language in the north, while in the south, very few people speak Hindi. The Indian upper class clings to English. Only about 3% of Indians have a firm grasp of the language (Alan, 2006).

b. The economic and legal conditions of India and its economic policies
India's population continues to grow at about 1.8% per year and is estimated at one billion. While its GDP is low in dollar terms, India has the world's 13th-largest GNP. About 62% of本论文由英语论文网提供整理，提供论文代写，英语论文代写，代写论文，代写英语论文，代写留学生论文，代写英文论文，留学生论文代写相关核心关键词搜索。