China will become the largest insurance market in the world

Time:2019-03-26 11:34:38 Popular: Comment:0


China will become the largest insurance market in the world


According to the latest sigma report of Swiss Reinsurance, emerging markets will continue to be an important engine driving the global economy and the development of the insurance industry in the next 10 years. The report explores how the seven major emerging markets will contribute more than 40% of global economic growth over the next 10 years, examines the factors driving premium growth in emerging markets over the next 10 years, and predicts that China may become the world's largest insurance market by the mid-2030s.


Dr. Anrenli, chief economist of Swiss reinsurance, said that in the next 10 years, emerging market economies will continue to grow faster than developed markets, and the trend of economic power shifting from west to East will continue. With this trend, the quality of economic growth will become a differentiating factor in emerging markets. At the same time, the insurance market will continue to maintain strong growth momentum.


The report indicates that there is a close positive correlation between insurance demand and economic growth. However, in recent years, the slowdown in economic growth in emerging markets has not led to a reduction in premium growth, and the potential momentum of insurance consumption has not been fundamentally affected.


The report predicts that emerging market premiums will increase by about 50% in global premiums over the next 10 years, and the long-term premium growth rate in emerging markets will be 5 percentage points higher than that in developed markets. The growth rate of emerging markets in Asia is expected to triple the global average in the next two years.


Peng Kaitong, president of Swiss Reinsurance Asia, said that insurance has always been a key factor in promoting economic growth. It is urgent for Switzerland to continue to provide support to the government, enterprises and the public in order to fully release the growth potential of emerging markets, create technology-driven sustainable solutions, and provide consumers with an increasingly urbanized and more open-minded emerging market. Assistance.

China will become the largest insurance market in the world


Original link:
Label:China,the largest insurance market in the world