Property insurance is the earliest and most important type of insurance. Competition is the fundamental driving force and main performance in property insurance development and innovation. After years of development，the scale of Henan province property insurance market expanded rapidly，the opening of the market has a growing depth and breadth. Diversified competition is emerging，Henan property insurance market changes from original monopoly to monopolistic competition. At present，the competition of Henan province property insurance market still exist many problems，such as the concepts and the ways. A number of aspects broadly reflect the competitive situation of Henan province property insurance，such as changes in the number of competing companies，the competition among different regions，business structure and types of insurance. In order to promote the sound development，thus promoting the sustained and healthy development of Henan province property insurance，the insurance companies should innovate insurance products，improve service quality and pay attention to personnel training.