Joint ventures grow market share, assets, but face problems

Insurance joint ventures in China are gathering steam, morphing into important industry players as their market shares and total assets increase, experts said.

As at July-end, total assets of insurance joint ventures reached a little over 1 trillion yuan ($153 billion), with a collective market share of 5.53 percent.

This contrasts with 3 billion yuan and only 1 percent share when they entered China a few years back, according to data from the China Insurance Regulatory Commission.