In the year 1979, the Chinese government, as part of its "reform and open" policy invite a delegation of Chubb executives to converse insurance issues. In the mid of 1990s, assess the potential of the Chinese insurance market and Chubb opened delegate offices in Beijing, Shanghai, and Shenzhen to do market research.
In 2000, China authorized Chubb (one of only three foreign insurance companies) to sell insurance in the country. Throughout the subsequent five years China's non-life insurance business grew from $8.3 billion in 2001 to $15.9 billion in 2005. Yet in 2007, national insurers continued to control market share and Chubb hadn't realized the profits it'd anticipated. The case provides a summary of the Chinese insurance market, casualty and property insurance and the challenge that foreign-based insurers have in entering an promising market. Students are requested to decide what Chubb's China strategy should be moving forward.
The Chubb Corporation in China case study solution
PUBLICATION DATE: August 05, 2008 PRODUCT #: 209021-HCB-ENG
This is just an excerpt. This case is about FINANCE & ACCOUNTING
Related Case Solutions & Analyses:
PayPal Merchant Services
KingJewels: Ethical Leadership in Practice
Foreign Exchange Hedging Strategies at General Motors
W. K. Kellogg Company A
Rabobank Nederland
Taxing Situations: Two Cases on Income Taxes and Financial Reporting
Global Accounting Convergence & Potential Adoption of IFRS by the United States (Part II)
Hemo-Tech Inc.
An Introduction to Financial Accounting
National Westminster Plc
