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China Insurance Market Outlook to 2016 - Driven By Automobile Insurance Market
Nov 08, 2014
“Rising population with the increasing awareness, increasing personal disposable income with improving economic conditions and favorable government policies are expected to drive China insurance market positively from 2013-2016.” According to the Research Analyst, Ken Research
The report titled China Insurance Market Outlook to 2016 - Driven By Automobile Insurance Market provides a comprehensive analysis of market size of the Asia-Pacific insurance industry, market segmentation of Asia-Pacific insurance industry by geography. The report includes market size of the China insurance industry, market segmentation of non-life China insurance market and market size and segmentation of various non life segments. The report also provides value chain of China insurance market, competitive landscape and profile of major players operating in China insurance industry
For more information on the industry research report please refer to the below mentioned link:
http://www.kenresearch.com/banking-financial-services--insurance-bfsi-/insurance/368-93/China-Insurance-Market-Outlook-to-2016.html
The report titled China Insurance Market Outlook to 2016 - Driven By Automobile Insurance Market provides a comprehensive analysis of market size of the Asia-Pacific insurance industry, market segmentation of Asia-Pacific insurance industry by geography. The report includes market size of the China insurance industry, market segmentation of non-life China insurance market and market size and segmentation of various non life segments. The report also provides value chain of China insurance market, competitive landscape and profile of major players operating in China insurance industry
For more information on the industry research report please refer to the below mentioned link:
http://www.kenresearch.com/banking-financial-services--insurance-bfsi-/insurance/368-93/China-Insurance-Market-Outlook-to-2016.html
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© This is a licensed product of Ken Research and should not be copied
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© This is a licensed product of Ken Research and should not be copied
TABLE OF CONTENTS
1. Asia-Pacific Insurance Industry
1.1. Industry Introduction
1.2. Asia-Pacific Insurance Market Size by Direct Written Premium, 2005-2012P
1.3. Asia-Pacific Insurance Market Segmentation
1.3.1. By Geography, 2005-2012P
1.3.2. By Life and Non Life, 2005-2012P
1.4. Asia-Pacific Insurance Industry Future Outlook
1.4.1. By Geography, 2013-2016
3. China Insurance Industry
3.1. China Insurance Value Chain
3.2. China Insurance Market Size by Direct Written Premium, 2005-2012
4. China Insurance Government Regulations
5. China Life Insurance Market
5.1. China Life Insurance Market Size, 2005-2012
5.2. China Life insurance Claim Paid, 2005-2012
5.3. Market Share of Major Life Insurers in China, 2012
5.4. China Life Insurance Market Future Outlook and Projection, 2013-2016
6. China Non-Life Insurance Market
6.1. China Non-Life Insurance Market Size, 2005-2012
7. Non-Life Insurance Segmentation, 2005-2012
7.1. China Property and Casualty Insurance Industry
7.1.1. China Property and Casualty Insurance Market Size, 2005-2012
7.1.2. China Property and Casualty insurance Claim Paid, 2005-2012
7.1.3. Property and Casualty Insurance Segmentation, 2005-2012
7.1.4. Market Share of Major Property and Casualty Insurers in China, 2012
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7.1.5. China Property and Casualty Insurance Market Future Outlook and Projection, 2013-2016
7.2. China Motor Insurance Industry
7.2.1. China Motor Insurance Market Size, 2005-2012
7.2.2. China Motor Insurance Market Future Outlook and Projection, 2013-2016
7.3. China Commercial Property Insurance Industry
7.3.1. China Commercial Property Insurance Market Size, 2005-2012
7.3.2. China Commercial Property Insurance Market Future Outlook and Projection, 2013-2016
7.4. China Agricultural Insurance Industry
7.4.1. China Agricultural Insurance Market Size, 2005-2012
7.4.2. China Agricultural Insurance Market Future Outlook and Projection, 2013-2016
7.5. China Liability Insurance Industry
7.5.1. China Liability Insurance Market Size, 2005-2012
7.5.2. China Liability Insurance Market Future Outlook and Projection, 2013-2016
7.6. China Credit Insurance Industry
7.6.1. China Credit Insurance Market Size, 2005-2012
7.6.2. China Credit Insurance Market Future Outlook and Projection, 2013-2016
7.7. China Accident Insurance Industry
7.7.1. China Accident Insurance Market Size, 2005-2012
7.7.2. China Accident Insurance Market Future Outlook and Projection, 2013-2016
7.8. China Cargo Insurance Industry
7.8.1. China Cargo Insurance Market Size, 2005-2012
7.8.2. China Cargo Insurance Market Future Outlook and Projection, 2013-2016
7.9. China Health Insurance Industry
7.9.1. China Health Insurance Market Size, 2005-2012
7.9.2. China Health insurance Claim Paid, 2005-2012
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7.9.3. China Health Insurance Market Future Outlook and Projection, 2013-2016
7.10. Market Share of Major Non Life Insurers in China, 2011
7.11. China Non-Life Insurance Market Future Outlook and Projection, 2013-2016
8. China Insurance Industry Trends and Developments
9. China Insurance Industry Future Projections, 2013-2016
9.1. Cause and Effect Relationship Between Dependent and Independent Factors Prevailing in China Insurance Market
10. Company Profile of Major Players in China Life Insurance Industry
10.1. China Life Insurance
10.1.1. Company Profile
10.1.2. Business Strategies
10.1.3. Financial Performance
10.2. Ping An Life Insurance
10.2.1. Company Profile
10.2.2. Business Strategies
10.2.3. Financial Performance
10.3. New China Life Insurance
10.3.1. Company Profile
10.3.2. Business Strategies
10.3.3. Financial Performance
11. Company Profile of Major Players in China Non-Life Insurance Industry
11.1. Public Insurance Company of China (PICC)
11.1.1. Company Profile
11.1.2. Business Strategies
11.1.3. Financial Performance
11.2. China Pacific Insurance (CPIC)
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11.2.1. Company Profile
11.2.2. Business Strategies
11.2.3. Financial Performance
12. China Insurance Industry Macro-Economic Indicators: Historical and Projections
12.1. China Population, 2005-2016
12.2. GDP of China, 2005-2016
12.3. Healthcare Expenditure of China, 2005-2016
12.4. Total Vehicle in Use in China, 2007-2016
13. Appendix
13.1. Market Definitions
13.2. Abbreviations
13.3. Research Methodology
Data Collection Methods
Approach
Variables (Dependent and Independent)
Multi Factor Based Sensitivity Model
Final Conclusion
13.4. Disclaimer
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LIST OF FIGURES
Figure 1: Asia-Pacific Insurance Market Size on the Basis of Direct Written Premium in USD Million, 2005-2012P
Figure 2: Asia-Pacific Insurance Market Segmentation by Life and non Life on the Basis of Direct Written Premium in Percentage, 2005-2012P
Figure 3: Insurance Value Chain
Figure 4: China Insurance Market Size on the Basis of Direct Written Premium in USD Million, 2005-2012
Figure 5: China Life Insurance Market Size on the Basis of Direct Written Premium in USD Million, 2005-2012
Figure 6: China Life Insurance Market Claim Paid on the Basis of Direct Written Premium in USD Million, 2005-2012
Figure 7: Market Share of Major Life Insurers on the Basis of Direct Written Premium in Percentage, 2012
Figure 8: China Life Insurance Market Projections on the Basis of Direct Written Premium in USD Million, 2013-2016
Figure 9: China Non Life Insurance Market Size on the Basis of Direct Written Premium in USD Million, 2005-2012
Figure 10: China Non life Insurance Market Segmentation by Property and Casualty and Health Insurance on the Basis of Direct Written Premium in Percentage, 2005-2012
Figure 11: China Property and Casualty Insurance Market Size on the Basis of Direct Written Premium in USD Million, 2005-2012
Figure 12: China Property and Casualty Insurance Market Claim Paid on the Basis of Direct Written Premium in USD Million, 2005-2012
Figure 13: China Property and Casualty Insurance Market Segmentation by Motor, Commercial Property, Agricultural, Liability, Credit, Accident, Cargo and Others Insurance on the Basis of Direct Written Premium in Percentage, 2005-2012
Figure 14: Market Share of Major Property and Casualty Insurers on the Basis of Direct Written Premium in Percentage, 2012
Figure 15: China Property and Casualty Insurance Market Projections on the Basis of Direct Written Premium in USD Million, 2013-2016
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Figure 16: China Motor Insurance Market Size on the Basis of Direct Written Premium in USD Million, 2005-2012
Figure 17: China Motor Insurance Market Projections on the Basis of Direct Written Premium in USD Million, 2013-2016
Figure 18: China Commercial Property Insurance Market Size on the Basis of Direct Written Premium in USD Million, 2005-2012
Figure 19: China Commercial Property Insurance Market Projections on the Basis of Direct Written Premium in USD Million, 2013-2016
Figure 20: China Agricultural Insurance Market Size on the Basis of Direct Written Premium in USD Million, 2005-2012
Figure 21: China Agricultural Insurance Market Projections on the Basis of Direct Written Premium in USD Million, 2013-2016
Figure 22: China Liability Insurance Market Size on the Basis of Direct Written Premium in USD Million, 2005-2012
Figure 23: China Liability Insurance Market Projections on the Basis of Direct Written Premium in USD Million, 2013-2016
Figure 24: China Credit Insurance Market Size on the Basis of Direct Written Premium in USD Million, 2005-2012
Figure 25: China Credit Insurance Market Projections on the Basis of Direct Written Premium in USD Million, 2013-2016
Figure 26: China Accident Insurance Market Size on the Basis of Direct Written Premium in USD Million, 2005-2012
Figure 27: China Accident Insurance Market Projections on the Basis of Direct Written Premium in USD Million, 2013-2016
Figure 28: China Cargo Insurance Market Size on the Basis of Direct Written Premium in USD Million, 2005-2012
Figure 29: China Cargo Insurance Market Projections on the Basis of Direct Written Premium in USD Million, 2013-2016
Figure 30: China Health Insurance Market Size on the Basis of Direct Written Premium in USD Million, 2005-2012
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Figure 31: China Health Insurance Market Claim Paid on the Basis of Direct Written Premium in USD Million, 2005-2012
Figure 32: China Health Insurance Market Projections on the Basis of Direct Written Premium in USD Million, 2013-2016
Figure 33: Market Share of Major Non Life Insurers on the Basis of Direct Written Premium in Percentage, 2011
Figure 34: China Non life Insurance Market Projections on the Basis of Direct Written Premium in USD Million, 2013-2016
Figure 35: China Insurance Market Projections on the Basis of Direct Written Premium in USD Million, 2013-2016
Figure 36: China Life Insurance Net Written Premium of China Life Insurance Company in USD Million, 2006-2012
Figure 37: China Life Insurance Premium Income of Ping An Life Insurance in USD Million, 2008-2012
Figure 38: China Life Insurance Premium Income of New China Life Insurance in USD Million, 2006-2012
Figure 39: China Life Insurance Premium Income of Public Insurance Company of China in USD Million, 2005-2011
Figure 40: China Life Insurance Gross Written Premium of China Pacific Insurance in USD Million, 2008-2011
Figure 41: China Population in Million, 2005-2016
Figure 42: GDP of China in USD Million, 2005-2016
Figure 43: Healthcare Expenditure of China in USD Million, 2005-2016
Figure 44: Total Vehicle in Use in China in Million, 2007-2016
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LIST OF TABLES
Table 1: Asia-Pacific Insurance Market Segmentation by Countries on the Basis of Direct Written Premium in USD Billion, 2005-2012P
Table 2: Asia-Pacific Insurance Market Segmentation by Life and Non Life on the Basis of Direct Written Premium in USD Billion, 2005-2012P
Table 3: Asia-Pacific Insurance Market Projections by Countries on the Basis of Direct Written Premium in USD Million, 2013-2016
Table 4: Market Share of Major Life Insurers on the Basis of Direct Written Premium in USD Million, 2012
Table 5: Market Share of Major Property and Casualty Insurers on the Basis of Direct Written Premium in USD Million, 2012
Table 6: Market Share of Major Non Life Insurers on the Basis of Direct Written Premium in USD Million, 2011
Table 7: Cause and Effect Relationship Analysis between Industry Factors and Expected Industry Prospects of China Insurance Market
Table 8: Correlation Matrix of China Insurance Industry
Table 9: Regression Coefficients Output of China Insurance Industry
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ASIA-PACIFIC INSURANCE MARKET SIZE BY DIRECT WRITTEN PREMIUM, 2005-2012P
The insurance market in Asia-Pacific region has grown remarkably over the past few years due to the growth in the emerging markets such as China, Japan, India, Australia, Taiwan and South Korea. The countries in the Asia-Pacific region are at different stages of economic development unlike the European countries and the US which has created significant opportunities for the insurers in the region in order to serve the financial needs of the customers. The market in the region has grown at a CAGR of 11.9% from USD ~ million in 2005 to USD ~million in 2012…
Figure: Asia-Pacific Insurance Market Size on the Basis of Direct Written Premium in USD Million, 2005-2012P
0.0
2,00,000.0
4,00,000.0
6,00,000.0
8,00,000.0
10,00,000.0
12,00,000.0
14,00,000.0
16,00,000.0
2005 2006 2007 2008 2009 2010 2011 2012P
USD
Mill
ion
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China insurance industry is one of the predominant markets in the insurance industry in the Asia-Pacific region with a contribution of ~% of the direct written premium in the region in 2012.
ASIA-PACIFIC INSURANCE MARKET SEGMENTATION
BY GEOGRAPHY, 2005-2012P
Asia-Pacific insurance industry is majorly contributed by 6 major countries such as Japan, China, South Korea, Taiwan, India and Australia with the share of ~% in 2012. Japan insurance market
is the second largest in the world with the contribution of more than ~% in 2012…. The China insurance industry is one of the predominant markets in the insurance industry in the Asia-Pacific region with a contribution of ~% of the direct written premium in the region in 2012…
South Korea is the third largest market with a contribution of ~% in 2012. The country insurance sector is more
complicated with limited growth opportunities in comparison with the growing market in the region such as China and India…
Table: Asia-Pacific Insurance Market Segmentation by Countries on the Basis of Direct Written Premium in USD Billion, 2005-2012P
Countries 2005 2006 2007 2008 2009 2010 2011 2012P
Japan
China
South Korea
Taiwan
India
Australia
Hong Kong
Singapore
Thailand
Malaysia
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Indonesia
New Zealand
Philippines
Vietnam
Pakistan
Kazakhstan
Bangladesh
Sri Lanka
Total
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CHINA INSURANCE INDUSTRY
CHINA INSURANCE MARKET SIZE BY DIRECT WRITTEN PREMIUM, 2005-2012
The Chinese insurance industry has seen rapid expansion during 2005-2012 and will continue to see high growth rates in the next few years. The insurance market in the country has witnessed a compound annual growth rate of ~% in the last seven years and has recorded direct written premium of USD ~ million in 2012…
Figure: China Insurance Market Size on the Basis of Direct Written Premium in USD Million, 2005-2012
Note:Life Insurance is in Premium Income
Non-Life Insurance is in Premium Income
0.0
50,000.0
1,00,000.0
1,50,000.0
2,00,000.0
2,50,000.0
3,00,000.0
2005 2006 2007 2008 2009 2010 2011 2012
USD
Mill
ion
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China life insurance industry has paid a claim of USD 20,128.2 million in 2011 due to an occurrence of natural disaster in mainland China in the first half of 2011.
CHINA LIFE INSURANCE MARKET
CHINA LIFE INSURANCE CLAIM PAID, 2005-2012
China has been the world’s most existing marketplace for global insurers for a decade and it looks set to retain its status in the near future. The country life insurance industry has experienced an incline in claim paid from USD ~ million in 2010 to USD ~ million in 2011….
.
Figure: China Life Insurance Market Claim Paid on the Basis of Direct Written Premium in USD Million, 2005-2012
Note:Life Insurance is in Premium Income
0.0
5,000.0
10,000.0
15,000.0
20,000.0
25,000.0
2005 2006 2007 2008 2009 2010 2011 2012
USD
Mill
ion
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MARKET SHARE OF MAJOR LIFE INSURERS IN CHINA, 2012
China life insurance industry is a concentrated market with top five players contributing around ~% of the total life insurance direct written premium in 2012.
China life is the leading player in China life insurance industry with the contribution of approximately ~% of the total direct written premium of the life insurance industry in China in 2012….
Figure 1: Market Share of Major Life Insurers on the Basis of Direct Written Premium in Percentage, 2012
Note: Life Insurance is in Premium Income
Table: Market Share of Major Life Insurers on the Basis of Direct Written Premium in USD Million, 2012
Players 2012
China Life shares
Ping An Life
New China Life
China Life shares
Ping An Life
New China Life
CPIC Life
PICC Life
Taikang
TPL (Taiping Life)
Sino Life
Others
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China non life insurance market is dominated by property and casualty segment with the contribution of ~% in 2012.
CPIC Life
PICC Life
Taikang
TPL
Sino Life
Others
Total
Source: Insurance Association of China and Ken Research
Note:Life Insurance is in Premium Income
CHINA NON-LIFE INSURANCE MARKET
NON-LIFE INSURANCE SEGMENTATION, 2005-2012
The country non life insurance market is dominated by property and casualty segment with the contribution of ~% in 2012… The motor vehicle is the leading contributor in property and casualty segment with the share of around ~% in 2012. The motor vehicle insurance is divided into two types such as compulsory liability and voluntary insurance. The second largest
contributor in property and casualty segment is property with the share of approximately ~% in 2012 followed by agricultural insurance with the share of ~% in 2012.
The health insurance market contributes ~% of the non life insurance industry in China in 2012. The private health insurance coverage in the country has expanded and now it covers approximately ~% of China’s population. The health insurance coverage in the country has grown at an impressive rate of ~% annually over the past 10 years. The number of health insurance plan in the country has also increased from around ~ in 2008 to over ~ in 2011.
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Figure 2: China Non life Insurance Market Segmentation by Property and Casualty and Health Insurance on the Basis of Direct Written Premium in Percentage, 2005-2012
Note:Non-Life Insurance is in Premium Income
CHINA PROPERTY AND CASUALTY INSURANCE INDUSTRY
CHINA PROPERTY AND CASUALTY INSURANCE CLAIM PAID, 2005-2012
The Chinese property and casualty insurance industry has paid USD ~ million claims in 2011 in which approximately USD ~ was paid in August 2011 which was recorded as the highest claim paid in the year…
In 2009, the combined ratio of property and casualty insurance industry has improved to ~% and this positive trend in the market is accelerated in 2010 and in the first half of 2011 in which the industry has recorded the combined ratio of ~% and ~% respectively for the top three insurers in the country which include PICC, Ping An Property and Casualty and CPIC Fiscal.
0.0%10.0%20.0%30.0%40.0%50.0%60.0%70.0%80.0%90.0%
100.0%
2005 2006 2007 2008 2009 2010 2011 2012
In P
erce
ntag
e %
Health Property and Casualty
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Figure: China Property and Casualty Insurance Market Claim Paid on the Basis of Direct Written Premium in USD Million, 2005-2012
Note:Property and Casualty Insurance is in Premium Income
CHINA MOTOR INSURANCE INDUSTRY
CHINA MOTOR INSURANCE MARKET FUTURE OUTLOOK AND PROJECTION, 2013-2016
…The country automobile insurance market is expected to earn direct written premium of USD ~ million in 2016 which is up from USD ~ million in 2011. This is due to an expected increase in the car ownership in the country as there are only 35 million cars for the population of ~ billion in 2011.
0.05,000.0
10,000.015,000.020,000.025,000.030,000.035,000.040,000.045,000.050,000.0
2005 2006 2007 2008 2009 2010 2011 2012
USD
Mill
ion
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Figure: China Motor Insurance Market Projections on the Basis of Direct Written Premium in USD Million, 2013-2016
Note:Motor Insurance is in Premium Income
0.0
20,000.0
40,000.0
60,000.0
80,000.0
1,00,000.0
1,20,000.0
1,40,000.0
1,60,000.0
1,80,000.0
2013 2014 2015 2016
USD
Mill
ion
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ASIA-PACIFIC INSURANCE INDUSTRY FUTURE OUTLOOK
…Overall, the market of the Asia-Pacific insurance is expected to grow at a CAGR of 11.2% from 2013-2016. The market in the near future is expected to witness consolidation and higher competition level with the entrance of more global players in the market…
ASIA-PACIFIC INSURANCE INDUSTRY FUTURE PROJECTIONS
BY GEOGRAPHY, 2013-2016
The Asia-Pacific Insurance industry is expected to grow at a CAGR of 11.2% from 2013-2016 on account of rising population in the emerging market of Asia such as India and China. It is anticipated that the total direct written premium of the insurance products will increase to USD ~ million in 2016 from USD ~ million in 2012.
Table: Asia-Pacific Insurance Market Projections by Countries on the Basis of Direct Written Premium in USD Million, 2013-2016
Countries 2013 2014 2015 2016
Japan
China
South Korea
Taiwan
India
Australia
Hong Kong
Singapore
Thailand
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Malaysia
Indonesia
New Zealand
Philippines
Vietnam
Pakistan
Kazakhstan
Bangladesh
Sri Lanka
Total
CHINA INSURANCE INDUSTRY FUTURE PROJECTIONS, 2013-2016
In the base case scenario analysis the insurance industry in the country is expected to grow at a phenomenal rate of 17.7% in the next four years and is predicted to record the direct written premium of USD ~ million in 2016…
The worst case scenario analysis assumes that the country insurance market is anticipated to grow at a marginal rate of 6.9% from 2013-2016 in comparison to the historical years…
The best case scenario analysis predicts the remarkable growth of 28.5% in the next five years. The country’s insurance market is expected to record direct written premium of USD ~ million by 2016.
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Figure: China Insurance Market Projections on the Basis of Direct Written Premium in USD Million, 2013-2016
Note:Life Insurance is in Premium Income
Non-Life Insurance is in Premium Income
0.0
1,00,000.0
2,00,000.0
3,00,000.0
4,00,000.0
5,00,000.0
6,00,000.0
7,00,000.0
8,00,000.0
2013 2014 2015 2016
USD
Mill
ion
Worst Case Base Case Best Case
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CAUSE AND EFFECT RELATIONSHIP BETWEEN DEPENDENT AND INDEPENDENT FACTORS PREVAILING IN CHINA INSURANCE MARKET
Table: Cause and Effect Relationship Analysis between Industry Factors and Expected Industry Prospects of China Insurance Market
Industry Factors Market Impact Comments
Strict Government Regulations and Support
Cause: Positive Effect:
Increasing Population
Cause: Effect:
Increasing Consumer Spending
Cause: Effect:
Intensifying Competition
Cause: Positive Effect: Negative Effect:
DISCLAIMER
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