| In the year of2008, American subprime mortgage crisis triggered the global financial crisis, which had a significant impact on global financial markets. As an important branch of finance, insurance can certainly not avoid the impact from financial crisis. Though the internationalization degree of our insurance market is not high, we have slowly opened it since our entry into WTO. China’s insurance industry is in the phase of rapid development, and the related regulatory mechanism, law, system still need to be improved.The writer choose the data of our country’s life insurance of per quarter from2005to2013for empirical analysis, in order to find out whether the financial crisis in2008caused serious influence to our insurance industry especially life insurance, and give some advice about how to deal with the financial crisis in the future.Firstly, the article simply introduces the outbreak and spread of the financial crisis, and then talks about the direct effects and indirect effects of the financial crisis on the global insurance market from different perspective.Then, the article analyzes the influence of financial crisis on Chinese insurance market especially life insurance, and give a separate discussion about the influence between Chinese life insurance companies and foreign life insurance companies to find out reasons for different companies under the same market environment.Next, I use Chow mutation testing method to analyze quarterly life insurance premium income data from2005to2013, in order to find out whether the observations have mutation points. I want to determine whether the financial crisis has significant influence on Chinese life insurance, which reflects the influences of the crisis on China’s insurance industry. Finally, the article reflects the status quo of China’s life insurance industry based on the empirical analysis, and give some relevant suggestions for the current problems of the insurance industry to deal with the next financial crisis. |
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