A Summary Of Insurance Industry Development In Shanghai From 1927-1937

The development of insurance industry in modern times is very rough, and challenged by foreign monopoly, Chinese insurance industry starts from scraps and grows from weak to strong.The first developmental peak of Chinese insurance industry comes in the period between the year 1927 and 1937, with typical growth in Shanghai, a modern Chinese economic center, and there are particular historical reasons for the achievements made by Chinese insurance businessmen in Shanghai.In this thesis, with an overall review of the industrial development of Chinese insurance business, and in reference to the social and economic situations of that period, both the subjective and objective reasons contributing this rapid development have been tentatively located, so that some lessons as well as experience should be drawn for future reference for contemporary Chinese insurance industry.Besides introduction and conclusion, this thesis is divided into four parts:Introduction discusses the significance and the status quo of current researches, and provides with the particular perspective of the present study.The first part, Birth and Slow Growth of Modern Insurance, introduces insurance concept and its transmission in modern China and how modern insurance industry comes into being as well as Chinese insurance industry development in early twentieth century.The second part is Rapid Growth of Chinese Insurance Industry from 1927 to 1937. This section first goes over the general situation of Chinese insurance industry in Shanghai, and then introduces other aspects from which the rapid development is shown, such as the combination of Chinese insurance industry, academic breakthroughs in insurance, as well as the enforcement of public insurance awareness.The next part specifies Underlying Reasons for Rapid Growth of Chinese insurance industry in Shanghai, which are investment by shared bureaucrat capital or bank capital, promotion from economic growth, maturity of relevant laws and support from the public.The final part deals with the significance of rapid growth of Chinese insurance industry in Shanghai between 1927 and 1937, and in this section, under the premise of rapid growth of Chinese insurance industry, the complementary relationship between economic development and insurance industry is elaborated in detail.Conclusion brings the discussions above to an end, and the overall situation of Chinese insurance industry in Shanghai during the period of Minguo period is depicted in this section.In addition, underlying subjective and objective reasons for the rapid growth of Chinese insurance industry in this period are finally summarized as well, out of which lessons to be learned as well as insights into the further development are derived for future reference in the end of this thesis.